Ikeja Hotel topped the losers, shedding 10 per cent, dropping N1.40 to close at N12.60. Learn Africa also fell by 10 per cent, losing 43k to settle at N3.87.
Market capitalisation closed May 2024 at N56.172 trillion, gaining N15.25 trillion or 37.28 per cent from N40.917 trillion, the stock market opened for trading this year.
The market capitalisation dropped by N162 billion or 0.53 per cent to close at N30.238 trillion as against the N30.4 trillion recorded on Tuesday.
The market’s weak performance was primarily driven by selloffs in stocks of Zenith Bank, Geregu, Nigerian Breweries and Guaranty Trust Holding Company (GTCo).
The exchange traded funds market capitalisation increased from N7.35 billion in 2021 to N8.42 billion in 2022.
Market capitalisation lost N7 billion or 0.02 per cent to close at N28.649 trillion as against N28.656 trillion posted at the previous trading.
Trading activities on the floor of the Nigerian Exchange Ltd. (NGX) closed on a negative note as market capitalisation was down by N90 billion.
The downturn in the performance of the market was due to profit-taking in Airtel Africa Plc and 15 others.
The Year-to-Date gain increased to 16.34 per cent, but the market breadth was negative as 10 stocks advanced and 16 declined.
The negative performance was majorly driven by selloffs in banking stocks.
