Equities Investors Lose N448bn as ASI Declines 0.74%

Samuel Mobolaji

The Nigerian stock market began the week on a bearish note, as the All-Share Index (ASI) fell by 0.74 per cent to close at 98,708.90 points, erasing gains from the previous five sessions. This decline led to N448.41 billion drop in market capitalisation, closing at N59.81 trillion.

The day’s downturn was driven by major losses in BUACEMENT, which plummeted by 10.00 per cent, alongside GTCO and FBNH, which declined by 2.12 per cent and 6.09 per cent respectively.

While ACCESSCORP (+2.49 per cent), TRANSCORP (+9.95 per cent), and FIDELITYBK (+0.70 per cent) saw gains, they were insufficient to offset the overall losses.

Trade turnover was significantly lower, with transaction values down by 52.22 per cent compared to the previous session.

A total of 353.18 million shares worth N4.55 billion were exchanged across 9,417 deals. CHAMS led in trade volume with 84.62 million shares, while UBA topped the value chart at N790.18 million.

Market breadth closed negative, with a ratio of 0.63-to-1 as 26 stocks declined against 16 gainers. BUACEMENT led the laggards, while EUNISELL (+10.00 per cent) headed the gainers.