Business and Economy

The Nigerian stock market suffers a loss of 1.50% (N856.17 billion) on Tuesday

The winning streak of the Nigerian stock market came to an end today, as the NGX All-Share Index experienced a decline of 1.50% and settled at 103,106.85 points. This drop was primarily due to losses in Tier-1 banks such as ZENITHBANK (-7.14%), GTCO (-6.29%), and UBA (-9.67%), which offset the gains made by GEREGU (+4.61%), ETI (+0.38%), and WEMABANK (+1.21%), ultimately dragging down the overall market. As a result, the year-to-date (YTD) return decreased to +37.89%, and the market capitalization slipped by ₦856.17bn to close at ₦56.43trn.

Upon analyzing today’s market activities, it was observed that trade turnover settled at a lower level compared to the previous session, with the value of transactions decreasing by 57.26%. A total of 648.95m shares, valued at ₦11.09bn, were exchanged in 14,579 deals. JAPAULGOLD (-9.06%) led the volume chart with 59.80m units traded, while UBA (-9.67%) topped the value chart with deals worth ₦1.23bn. Among the laggards, ACCESSCORP (-10.00%) stood out, surpassing forty-nine (49) others. On the other hand, UPDC (+8.11%) led six (6) others on the leader’s log.

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