The Nigerian Exchange Limited (NGX) began the week on a downturn, with investors facing a loss of ₦111 billion on Monday.
The NGX market capitalisation, which opened at ₦55.394 trillion, fell by ₦111 billion to close at ₦55.283 trillion.
The All-Share Index (ASI) also dipped by 0.24%, or 228 points, ending the day at 96,205.84 points, down from 96,433.54 points on Friday. Additionally, the Year-To-Date (YTD) return dropped by 28.66%.
Despite this, the market breadth remained positive with 34 gainers and 20 losers. Transnational Power and major Tier-one banks, such as Zenith Bank and Access Corporation, largely drove the decline.
Among the gainers, Eterna and Tantalizers led with a 10% increase each, closing at ₦33 and ₦0.77 per share respectively. Oando followed with a 9.95% rise, ending at ₦89.50, while FTN Cocoa gained 9.93% to close at ₦1.66. UACN also saw a 9.81% increase, closing at ₦22.95 per share.
On the other hand, Julius Berger topped the losers’ list with a 10% drop, closing at ₦153.45. Transnational Power followed with a 9.99% decrease, closing at ₦310.70 per share. McNichols fell by 9.40% to ₦1.35, UPL declined by 8.99% to ₦2.43, and Cutix dropped by 6% to ₦2.82 per share.
Trade turnover was higher compared to the previous session, with transaction values up by 21.82%. Investors traded 774.38 million shares valued at ₦14.65 billion across 10,412 deals, compared to 392.51 million shares valued at ₦12.02 billion in 7,981 deals in the previous session.
Jaiz Bank was the most traded stock by volume, with 247.04 million shares, while Zenith Bank led in value with ₦6.42 billion. It’s worth noting that NGX ended the previous week on a bearish note.