UACN, FCMB, others cause market to see first dip this week

The stock market of Africa’s largest economy on Tuesday saw its first decline this week, shedding 0.13 percent of its preceding day’s value.

UACN led the decliners after its share price decreased from N9.80 to N9.20, shedding 60kobo or 6.12percent, followed by FCMB Group which decreased from N4.99 to N4.60, down by 39kobo or 7.82percent. The stock market’s year-to-date (YtD) return decreased to 5.95percent.

In 4,380 deals, investors exchanged 200,035,312 shares valued at N7.622billion. FCMB, Geregu, Sterling Bank, Transcorp and Zenith Bank were top-5 traded equities on the Nigerian Bourse.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding day’s 54,367.74 points and N29.609trillion respectively to 54,299.76 points and N29.575trillion at the close of trading on Tuesday.

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