Business and Economy

The Nigerian stock market suffers downtrend by 0.07% on Tuesday

The Nigerian stock market suffered further losses today resulting in the All-Share Index closing 0.07% lower at 99,051.02 points. The decline was driven by selloffs in blue-chip ZENITHBANK (-3.03%), FBNH (-1.57%), and UBA (-4.11%), which outweighed the gains in PRESCO (+9.99%) and NB (+10.00%). As a result, the ASI year-to-date (YTD) return dropped to 32.47%, while market capitalization decreased by ₦38.24bn to settle at ₦56.03trn.

Trade turnover increased compared to the previous session, with the value of transactions rising by 46.19%. A total of 347.39m shares valued at ₦7.66bn were traded in 8,122 deals. VERITASKAP (+7.81%) topped the volume chart with 59.17m units traded, while AIRTELAFRI (+0.00%) led the value chart with deals worth ₦2.43bn. TANTALIZER (-10.00%) was at the top of the laggard’s table among twenty-one (21) others, while NB (+10.00%) led fifteen (15) others on the leader’s log.

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