The Nigerian Exchange (NGX) began the week on a bearish note, recording a loss of N8.62 billion due to declines in several key stocks including Caverton Offshore, Associated Bus Company, and Nigerian Breweries.
The All-Share Index (ASI) and market capitalization both decreased by 0.02%, closing at 100,022.03 basis points and N56.57 trillion, respectively. This brought the year-to-date performance down to 33.7%.
Despite the overall market dip, there was significant bullish activity, with more gainers (41) than losers (15) in the day’s trading.
Top Losers
- Caverton Offshore: Fell by 9.62% to close at N1.41.
- Associated Bus Company: Dropped 9.52% to close at N0.57.
- Nigerian Breweries: Decreased by 8.37% to close at N29.
Top Gainers
- University Press: Rose by 10% to N2.75.
- Guinness Nigeria Plc: Increased by 9.96% to close at N66.25.
Trading Volume and Value
- Ellah Lakes Plc: Led the volume chart with 271,486,716 units traded in 34 deals.
- Guaranty Trust Bank (GTCO): Was the most traded security by value, amounting to N1.94 billion in 636 deals. GTCO also announced plans to raise N400 billion through a public offer as part of its recapitalization efforts.
Previous Week Performance
Last week, the Nigerian equity market saw a loss of N178 billion. The All-Share Index and market capitalization both declined by 0.04%, closing the week at 100,022.03 and N56.581 trillion, respectively.
