Stock Market Starts Week In Red As Investors Lose ₦77bn | Daily Report Nigeria
BySodiq OlaitanJuly 28, 20262 min readNigerian equities market opened the week lower, wiping ₦77 billion off investors’ wealth. Selling pressure in Transcorp Power, BUA Cement, Fidson Healthcare and other. . .
BySodiq OlaitanJuly 28, 20262 min readNigerian equities market opened the week lower, wiping ₦77 billion off investors’ wealth. Selling pressure in Transcorp Power, BUA Cement, Fidson Healthcare and other heavyweight stocks dragged the market down. Despite the decline, trading activity strengthened as transaction volume and value recorded significant gains. The Nigerian stock market opened the new trading week on a bearish note on Monday, with investors losing ₦77 billion as sell-offs in major stocks pushed key market indicators into negative territory. At the close of trading, the Nigerian Exchange All-Share Index (ASI) fell by 118. 66 points, or 0. 05 per cent, to settle at 247,238. 74 points. Market capitalisation also declined by ₦77 billion to close at ₦159. 511 trillion. ATTENTION:Click“HERE”to join our WhatsApp group and receive News updates directly onyour WhatsApp!The downturn was largely driven by price losses in several large- and medium-capitalised stocks, including Transcorp Power, Fidson Healthcare, BUA Cement, Nigerian Aviation Handling Company (NAHCO) and NEM Insurance. Market sentiment remained weak as 32 stocks recorded losses, outnumbering the 27 gainers during the trading session. Thomas Wyatt Nigeria emerged as the day’s best-performing stock after gaining 9. 92 per cent to close at ₦3. 99 per share. READ ALSO:Tinubu Set to Approve Fresh Pay Raise for Soldier – Defence MinisterLasaco Assurance followed with a 9. 89 per cent appreciation to ₦2. 00, while Critical Minerals Financing Corporation advanced by 9. 18 per cent to ₦3. 45 per share. Chams Holding Company rose by 7. 78 per cent to close at ₦4. 85, while Nigerian Exchange Group appreciated by 6. 96 per cent to end trading at ₦158. 30 per share. On the losers’ chart, Sunu Assurance and Transcorp Power posted the steepest declines, each shedding 10 per cent to close at ₦3. 24 and ₦219. 60 respectively. International Breweries fell by 9. 85 per cent to ₦12. 35 per share, while Neimeth International Pharmaceuticals declined by 9. 78 per cent to ₦8. 30. Austin Laz & Company also lost 9. 64 per cent to close at ₦3. 28 per share. Despite the market’s negative performance, trading activity improved considerably. A total of 637. 96 million shares valued at ₦57. 20 billion were exchanged in 71,240 deals, representing a 3. 81 per cent increase in trading volume compared to the previous session. Access Holdings recorded the highest trading volume with 47. 58 million shares worth ₦1. 37 billion. FCMB Group followed with 40. 33 million shares valued at ₦478. 25 million, while First Holdco traded 34. 20 million shares worth ₦4. 25 billion. Champion Breweries recorded transactions of 33. 15 million shares valued at ₦372. 21 million, while Zenith Bank exchanged 25. 44 million shares worth ₦3. 23 billion. For publication of Press Releases, Statements, and Advert Inquiries, send an email to[email protected]