Stock market sheds N262 billion
The Nigerian equities market closed Friday’s trading session on a bearish note, as investors lost N262 billion amid profit-taking in 26 stocks.
Market capitalisation declined from N163.104 trillion to N162.842 trillion, representing a 0.16 per cent decrease.
Similarly, the All-Share Index (ASI) fell by 403.40 points, from 251,211.67 to 250,808.27, representing a 0.16 per cent decline.
The downturn was driven by sell-offs in AIICO Insurance, Trans-Nationwide Express, Livestock Feeds, Livingtrust Mortgage Bank and ABC Transport among others.
Consequently, the market’s Year-To-Date (YTD) return weakened to 61.17 per cent.
Market breadth closed flat, with 26 stocks recording price gains while 26 others recorded losses.
PZ led the losers’ table, declining by 9.91 per cent to close at N66.40 per share. Etranzact followed with a 9.84 per cent decline, closing at N11, while Zichis Agro Allied Industries shed 8.29 per cent to N18.25.
FTN Cocoa Processors declined by 8.19 per cent to N7.62, while Royal Exchange lost 7.83 per cent to settle at N1.06 per share.
Conversely, AIICO Insurance and Trans-Nationwide Express led the gainers’ table, appreciating by 10 per cent each.
AIICO Insurance closed at N4.18 per share, while Trans-Nationwide Express finished at N2.97.
Livestock Feeds appreciated by 9.88 per cent to N8.90, while Livingtrust Mortgage Bank gained 9.87 per cent to close at N3.45.
ABC Transport also rose by 9.63 per cent, finishing at N7.40 per share.
Trading activity weakened during the session, with 557.15 million shares worth N27.57 billion exchanged in 53,450 deals.
The volume represented a 0.16 per cent decline from the previous session.
Access Holdings Plc dominated trading, accounting for the highest volume and value, with 183.56 million shares valued at N5.52 billion.
The stock accounted for 32.95 per cent of the total volume and 20.01 per cent of the total value traded during the session.
(NAN)
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