The Nigerian Exchange Limited (NGX) experienced a bearish start to the week, with the All Share Index declining by 0.72 percent to settle at 97,881.75 points.
This resulted in a market capitalization of N55.58 trillion at the end of trading on Monday. Despite this decline, the market’s year-to-date return stood at 31.87 percent.
Investors traded 498,271,393 shares in 10,645 deals, valued at N11.77 billion. Market breadth closed positive with 29 gainers and 23 losers. Julius Berger Nigeria led the gainers with a 10 percent increase in share price, followed by National Salt Company, Total Nigeria, and Oando.
On the flip side, BUA Cement recorded the highest depreciation of 11.3 percent, followed by Skyway Aviation Handling Co., Sunu Assurances Nigeria, and Flour Mills Nigeria. Guaranty Trust Holding led in trading volume, followed by Veritas Kapital Assurance, Access Holdings, and Japaul Gold and Ventures.
There was a four percent increase in trading volume, a 44 percent rise in turnover, and a 12 percent improvement in the number of deals.
It is worth noting that the Nigerian equity market had shown signs of recovery the previous week, recording an N945 billion gain.
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