NGX begins the week with N404bn loss in 24 hours

The Nigerian Exchange Limited, NGX, commenced the week on a bearish note, with the All Share Index declining by 0.72 percent to settle at 97,881.75 points.

Data after the end of trading on Monday showed that the decline moderated the market’s year-to-date return to 31.87 percent, the month-to-date to 0.16 percent, and the week-to-date to -0.72 percent.

Market capitalization ended at N55.58 trillion as investors traded 498,271,393 shares in 10,645 deals, valued at N11.77 billion.

However, despite the decline in ASI, the market breadth closed positive with 29 gainers and 23 losers.

Julius Berger Nigeria led the gainers with a 10 percent increase in share price, closing at N121.00 per share.

It was followed by National Salt Company (10 percent), Total Nigeria (9.98 percent), and Oando (9.98 percent).

Conversely, BUA Cement led the loser’s table with the highest depreciation of 11.3 percent to close at N114.30, while Skyway Aviation Handling Co. shed 5.43 percent, Sunu Assurances Nigeria 4.76 percent, and Flour Mills Nigeria 2.61 percent.

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 percent increase in volume, a 44 percent rise in turnover, and a 12 percent improvement in the number of deals.

Recall that last week, the Nigerian equity market showed signs of recovery, and recorded an N945 billion gain.