Equity market begins week with N404bn loss

Report states that the Nigerian equity market closed the first trading day of the week on a negative note, with the All Share Index declining by 0.72 percent to settle at 97,881.75 points.
The decline moderated the market’s year-to-date return to 31.87 per cent, the month-to-date to 0.16 per cent, and the week-to-date to -0.72 per cent.
Market capitalisation ended at N55.58tn, as investors traded 498,271,393 shares in 10,645 deals, valued at N11.77bn.
Despite the overall downturn, market breadth closed positive with 29 gainers and 23 losers.
In terms of trading activity, there was a four percent increase in volume, a 44 per cent rise in turnover, and a 12 per cent improvement in the number of deals.
Last week, the Nigerian equity market showed signs of recovery, and recorded N945bn gain.