The Nigerian All-Share Index closed the trading session on 28th August in negative territory, shedding 691.52 points to finish at 140,557.24.
This marked a 0.49% decline from the previous day’s level of 141,248.80, despite stronger activity in the market.
Trading volume climbed sharply to 885 million shares, up from 682.8 million shares exchanged a day earlier.
Meanwhile, market capitalization slipped back below the N89 trillion mark, settling at N88.9 trillion across 26,163 deals, reflecting the day’s bearish mood.
On the gainers’ chart, SCOA and RTBRISCOE led with impressive advances of 10% and 9.80% respectively. The flip side saw INTENEGINS and OMATEK topping the losers’ list, dipping 9.62% and 8.97%.
In terms of activity, CHAMPION and ACCESSCORP dominated the volume chart, trading the highest number of shares.
Top 5 losers
Daily trading volume rose to 885 million shares, up from 682 million shares exchanged the previous day.
SWOOTs (Stocks Worth Over One Trillion Naira) had a mixed performance:
Among the FUGAZ stocks, the trend was largely bearish:
The All-Share Index appears to remain in a retracement phase, with the current momentum suggesting the possibility of a further slide below the 140,000-mark if selling pressure continues.
Sustained bearish activity, particularly in large-cap stocks, could deepen the decline and weigh further on overall market sentiment.