Equity market begins week with N404bn loss
The Nigerian equity market closed the first trading day of the week on a negative note, with the All Share Index declining by 0.72 per cent to settle at 97,881.75 points.
The decline moderated the market’s year-to-date return to 31.87 per cent, the month-to-date to 0.16 per cent, and the week-to-date to -0.72 per cent.
Market capitalisation ended at N55.58tn, as investors traded 498,271,393 shares in 10,645 deals, valued at N11.77bn.
Despite the overall downturn, market breadth closed positive with 29 gainers and 23 losers.
Julius Berger Nigeria led the gainers with a 10 per cent increase in share price, closing at N121.00 per share.
It was followed by National Salt Company (10 per cent), Total Nigeria (9.98 per cent), and Oando (9.98 per cent).
On the losing side, BUA Cement recorded the highest depreciation of 11.3 per cent to close at N114.30, while Skyway Aviation Handling Co. shed 5.43 per cent, Sunu Assurances Nigeria 4.76 per cent, and Flour Mills Nigeria 2.61 per cent.
Guaranty Trust Holding led in trading volume with 124 million shares, followed by Veritas Kapital Assurance with 39.3 million shares, Access Holdings with 38.3 million shares, and Japaul Gold and Ventures with 33.4 million shares.
In terms of trading activity, there was a four per cent increase in volume, a 44 per cent rise in turnover, and a 12 per cent improvement in the number of deals.
Last week, the Nigerian equity market showed signs of recovery, and recorded N945bn gain.
