Capital Market Declines by 1.36%

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The Nigerian capital market experienced a 1.36% decline last week, attributed to losses by key equities including PZ Cussons, McNichols, and Secure Electronic Technology, among others.

The All-Share Index dropped to 98,233.76 points, while market capitalization closed at N55.56 trillion, reflecting a 1.35% decrease. PZ Cussons, McNichols, and Secure Electronic Technology led the list of decliners, with losses of 26.97%, 20.18%, and 16.95%, respectively. Conversely, Tantalizers, FTN Cocoa Processors, and Presco emerged as top gainers, recording increases of 27.78%, 20%, and 15.31%, respectively.

Investors traded 2.187 billion shares valued at N50.667 billion in 45,277 deals, marking an increase from the previous week. The financial services industry dominated trading activity, accounting for 65.29% of the total equity turnover volume and 56.94% of the value. The consumer goods and conglomerates industries also witnessed notable trading activity.

United Bank for Africa Plc, Nigerian Breweries Plc, and Access Holdings Plc were the top three traded stocks, collectively contributing significantly to the total equity turnover volume and value.

Source: PUNCH

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