The Nigerian Exchange suffered a N421bn loss last week as sustained bearish sentiment pushed the All-Share Index down by 0.62 per cent to close at 107,821.39 points.
Investor activity slowed, with a total of 1.85bn shares worth N51.39bn traded in 63,090 deals, compared to 2bn shares valued at N49.49bn exchanged in 70,853 deals the previous week.
The Financial Services Industry led trading with 1.3 billion shares valued at N26.91bn in 29,140 deals, accounting for 70.13 per cent of total equity turnover volume and 52.38 per cent of the value.
The services industry followed with 129.44 million shares worth N719.22m in 3,657 deals, while the consumer goods industry recorded 116.70 million shares valued at N4.19bn in 7,452 deals.
Zenith Bank Plc, FCMB Group Plc, and Access Holdings Plc were the most traded stocks, contributing 539.77m shares worth N16.53bn in 7,392 deals, representing 29.21 per cent and 32.16 percent of total equity turnover volume and value, respectively.
Market capitalisation declined to N67.19tn, with most indices finishing lower except for AseM, Oil & Gas, Lotus II, Sovereign Bond, and Commodity, which recorded marginal gains of 0.04 per cent, 0.60 per cent, 0.33 per cent, 0.81 per cent, and 0.53 per cent, respectively.
The number of gainers reduced to 27 stocks, compared to 28 in the previous week, while 60 stocks declined, up from 58 recorded earlier, and 63 equities remained unchanged.
Among the top gainers, PZ Cussons Nigeria Plc surged by 31.11 per cent to close at N35.40, followed by Caverton Offshore Support Group Plc, which gained 22.92 per cent to N2.95, and Livestock Feeds Plc, up 22.81 per cent to N7.43.
The number of gainers reduced to 27 stocks, compared to 28 in the previous week, while 60 stocks declined, up from 58 recorded earlier, and 63 equities remained unchanged.
Among the top gainers, PZ Cussons Nigeria Plc surged by 31.11 per cent to close at N35.40, followed by Caverton Offshore Support Group Plc, which gained 22.92 per cent to N2.95, and Livestock Feeds Plc, up 22.81 per cent to N7.43.
On the losing side, Sunu Assurances Nigeria Plc led with a 19.55 per cent decline to N5.31, followed by Eunisell Interlinked Plc, which fell 18.67 per cent to N9.80, and Learn Africa Plc, shedding 16.46 per cent to N3.30.
The downturn follows a positive performance in the previous week when the market gained N1.83tn, with the ASI and market capitalisation appreciating by two per cent and 2.78 per cent, respectively, to close at 108,053.95 points and N67.418tn.
GIK/APA