The Nigerian equity market began the week on a negative note, with the All Share Index declining by 0.72% to 97,881.75 points. This moderated the market’s year-to-date return to 31.87%, month-to-date to 0.16%, and week-to-date to -0.72%. Market capitalization ended at N55.58 trillion, with investors trading 498.27 million shares in 10,645 deals, valued at N11.77 billion.
Despite the overall downturn, market breadth closed positive, with 29 gainers outpacing 23 losers. Julius Berger Nigeria led the gainers, surging 10% to N121.00 per share, followed by National Salt Company (10%), Total Nigeria (9.98%), and Oando (9.98%). On the losing side, BUA Cement recorded the highest depreciation of 11.3% to N114.30, trailed by Skyway Aviation Handling Co. (-5.43%), Sunu Assurances Nigeria (-4.76%), and Flour Mills Nigeria (-2.61%).
Guaranty Trust Holding dominated trading volume with 124 million shares, followed by Veritas Kapital Assurance (39.3 million), Access Holdings (38.3 million), and Japaul Gold and Ventures (33.4 million). Trading activity saw a 4% increase in volume, 44% rise in turnover, and 12% improvement in the number of deals.
Notably, the Nigerian equity market showed signs of recovery last week, recording a N945 billion gain.
