The Nigerian equity market started the week on a downturn, losing N63bn in market capitalization as the total value dropped from N59.53tn to N59.47tn. The All-Share Index (ASI) decreased by 103.23 points to close at 98,107.52, marking a 0.11 percent decline for the day. Despite this setback, the ASI has recorded gains of 0.38 percent in the past week, 0.75 percent in the last four weeks, and a significant 31.21 percent year-to-date. Trading activity saw 436 million shares change hands in 9,489 deals, valued at N12.86bn, though the session recorded notable drops in trading volume and turnover compared to the previous session.
Market participation included 126 equities, with 19 stocks gaining and 36 declining. Leading gainers were Nigerian Exchange Group and Golden Guinea Breweries, each achieving a 10 per cent price increase. On the other hand, Secure Electronic Technology and Guinea Insurance led the losers, falling 10 per cent and 8.93 per cent, respectively. High trading volumes were observed in FCMB Group, Access Holdings, and United Bank for Africa, though overall trading sentiment leaned bearish.
Sectoral indices displayed mixed performances, with the Oil & Gas Index rising by 0.44 per cent and achieving a year-to-date (YTD) gain of 140.41 per cent. Other indices, such as the Banking and Pension indices, recorded YTD gains of 15.4 per cent and 33.53 per cent, respectively. However, indices like the Consumer Goods Index saw modest declines. Last week, the equity market had gained N319bn, highlighting the ongoing volatility amid fluctuations in investor sentiment.