The Nigerian equity market ended the first trading day of the week on a downward note, reversing recent gains with an N63bn loss.
At the close of trading on Monday, the Nigerian Stock Exchange recorded a decline in its market capitalisation, dropping from N59.53tn to N59.47tn.
Also, the benchmark All-Share Index shed 103.23 points, closing at 98,107.52, marking a 0.11 per cent loss. Despite the decline on the day, the ASI has gained 0.38 per cent in the past week, 0.75 per cent in the last four weeks, and 31.21 per cent year-to-date.
A total of 436,039,692 shares were traded in 9,489 deals, representing a market value of N12.86bn. This marks a decline compared to the previous trading day, Friday, with a 58 per cent drop in trading volume, a 26 per cent decline in turnover, but a 31 per cent improvement in the number of deals.
The market saw 126 listed equities participating in trading, with 19 gainers and 36 losers. Leading the gainers was the Nigerian Exchange Group, which saw a 10 per cent rise in its share price, closing at N27.50 per share. Other notable gainers included Golden Guinea Breweries, which appreciated by 10 per cent to close at N5.94; Tantaliser, which rose by 9.92 per cent to N1.33; and Africa Prudential, which increased by 9.72 per cent to N11.85.
On the losing side, Secure Electronic Technology recorded the highest decline, with a 10 per cent fall, closing at N0.63 per share. Guinea Insurance followed with an 8.93 per cent loss, closing at N0.51, while Deap Capital Management & Trust dropped by 8.4 per cent to N1.09. Daar Communications also saw a significant decline of 7.02 per cent to end at N0.53.
FCMB Group traded the highest volume, with 61.7 million shares, followed by Access Holdings with 51.1 million, United Bank for Africa with 27.2 million, and Guarantee Trust Holding with 24.5 million.
Other indices also experienced mixed performances, with the Top 30 Index down by 0.05 per cent but up by 0.94 per cent over the past week, and a YTD gain of 32.9 per cent.
The Oil & Gas Index recorded a slight increase of 0.44 per cent, with a YTD gain of 140.41 per cent. Other indices like the Main Board Index and Consumer Goods Index showed modest declines, while the Banking Index and Pension Index saw YTD gains of 15.4 per cent and 33.53 per cent, respectively.
The PUNCH reported that the Nigerian equity market gained N319 billion last week, as 51 stocks appreciated. The All-Share Index rose by 0.72 per cent to close at 98,210.75, while market capitalisation reached N59.534tn.
