The Nigerian equity market started the week with a significant loss, as the All Share Index dropped by 0.72%, bringing it down to 97,881.75 points. This decline reduced the market’s year-to-date return to 31.87% and the month-to-date return to 0.16%, while the week-to-date return also slipped to -0.72%.
Market capitalisation closed at ₦55.58 trillion, with investors trading nearly 498.3 million shares in over 10,600 deals, valued at ₦11.77 billion.
Despite the overall market downturn, market breadth remained positive, with 29 stocks gaining and 23 declining.
Notably, Julius Berger Nigeria led the gainers with a 10% increase, closing at ₦121.00 per share. Other top gainers included National Salt Company, Total Nigeria, and Oando, each with close to 10% gains.
On the losing side, BUA Cement saw the most significant drop, falling by 11.3% to close at ₦114.30. Other losers included Skyway Aviation Handling, Sunu Assurances Nigeria, and Flour Mills Nigeria.
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In terms of trading volume, Guaranty Trust Holding led with 124 million shares, followed by Veritas Kapital Assurance, Access Holdings, and Japaul Gold and Ventures. Trading activity saw an uptick with a 4% increase in volume, a 44% rise in turnover, and a 12% improvement in the number of deals.
This follows a recovery trend from the previous week, where the market gained ₦945 billion.
