Equity Market begins week with N8bn loss

The Nigerian Exchange resumed the week on Monday with a loss of N8.62 billion due to a dip in Caverton Offshore, Associated Bus Company, Nigeria Breweries, and 38 other stocks.

The All-Share Index declined and market capitalisation by 0.02 per cent to settle at 100,022.03 basis points and N56.57tn, respectively.

The year-to-date performance dipped to 33.7 per cent.

The day’s trading saw a prevalence of bullish activity with the exchange witnessing more gainers (41) than the losers (15).

Among the top losers in the equity market were Caverton Offshore, which lost 9.62 per cent to close at N1.41, Associated Bus Company shed 9.52 per cent to close trading at N0.57 and Nigeria Breweries lost 8.37 per cent to close at N29.

Leading the gainers’ chart was University Press with a 10 per cent appreciation to N2.75 and Guinness Nigeria Plc with 9.96 per cent to close at N66.25

Ellah Lakes Plc led the volume chart with 271,486,716 units traded in 34 deals while Guaranty Trust Bank was the most traded security by value, amounting to N1.94bn in 636 deals.

GTCO disclosed plans to raise N400bn through a public offer in its recapitalisation bid.

Last week, The Nigerian equity market lost N178bn, and the all-share index and market capitalisation declined by 0.04 per cent to close the week at 100,022.03 and N56.581tn, respectivel

-By Temitope Aina



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