Investors on the Nigerian Exchange faced losses totaling approximately N47 billion as trading resumed after the two-day Eid al-Fitr holiday. The All-Share Index and market capitalization both experienced a decline of 0.08%, settling at 99,840.95 points and N56.48 trillion, respectively. Bearish activity dominated the day, with decliners (41) outnumbering gainers (15).
University Press, Guinness Nigeria, and Champion Breweries were among the advancing stocks, with appreciations of 10%, 9.96%, and 9.83%, respectively. Conversely, Caverton Offshore Support Group, Associated Bus Company, and Prestige Assurance Company led the decliner chart, with losses ranging from 8.37% to 9.62%.
Trading activity saw a notable increase, with the number of deals rising by 35.57% to 9,899, and the trading volume surging by 334.91% to 138.35 million shares. The trading value also saw a significant surge, rising by 223.02% to close at N16.48 billion.
Fidelity Bank and Nigerian Breweries were the top performers in terms of volume, trading 1.05 million shares and 60.67 million shares, respectively. Last week, the market capitalization and All-Share Index experienced a modest appreciation of 0.09%, closing at N56.53 trillion and 99,925.29 points, respectively.
Source: PUNCH