The Nigerian Exchange Limited (NGX) started the week with a decline as the All Share Index (ASI) fell by 0.72% to close at 97,881.75 points.
Data revealed that the market’s year-to-date return moderated to 31.87%, the month-to-date to 0.16%, and the week-to-date to -0.72% after Monday’s trading session.
The market capitalisation settled at N55.58 trillion following the trading of 498,271,393 shares in 10,645 deals, valued at N11.77 billion.
Despite the decrease in ASI, the market breadth ended positively with 29 gainers and 23 losers.
Julius Berger Nigeria led the gainers with a 10% rise in share price, closing at N121.00 per share.
National Salt Company (10%), Total Nigeria (9.98%), and Oando (9.98%) followed closely.
On the flip side, BUA Cement recorded the highest depreciation of 11.3%, closing at N114.30, while Skyway Aviation Handling Co. declined by 5.43%, Sunu Assurances Nigeria by 4.76%, and Flour Mills Nigeria by 2.61%.
Guaranty Trust Holding topped the trading volume with 124 million shares, trailed 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.
The trading activity saw a 4% increase in volume, a 44% rise in turnover, and a 12% improvement in the number of deals.
Last week, the Nigerian equity market displayed signs of recovery and recorded a gain of N945 billion.