The Nigerian Exchange began the week with an N8.62 billion loss attributed to declines in Caverton Offshore, Associated Bus Company, Nigeria Breweries, and 38 other stocks. This led to a slight 0.02% decrease in the All-Share Index, settling at 100,022.03 basis points and a market capitalization of N56.57 trillion. The year-to-date performance also decreased to 33.7%. During the day’s trading, there was a predominance of bullish activity, with 41 gainers outnumbering 15 losers.
Among the leading decliners in the stock market were Caverton Offshore, which fell by 9.62% to close at N1.41, Associated Bus Company down 9.52% to N0.57, and Nigeria Breweries declining by 8.37% to N29. Conversely, University Press topped the list of gainers with a 10% rise to N2.75, followed by Guinness Nigeria Plc, which increased by 9.96% to close at N66.25.
Ellah Lakes Plc led the trading volume with 271,486,716 units traded in 34 deals, while Guaranty Trust Bank emerged as the most traded security by value, amounting to N1.94 billion across 636 deals.
GTCO announced plans to raise N400 billion through a public offer as part of its recapitalization strategy. Last week, the Nigerian equity market experienced a loss of N178 billion, resulting in a marginal 0.04% decline in the all-share index and market capitalization, closing the week at 100,022.03 and N56.581 trillion, respectively.
