Nigerian stocks headed back to the negative territory on Friday as the benchmark index contracted by 0.74 per cent, easily wiping out the modest gain recorded the day before in a session that saw Dangote Cement and MTNN – Nigeria’s two most capitalised companies – set in motion a loss in the sum of N154 billion.
The industrial index took the rear in terms of performance of the five sector indexes tracked by the bourse, dropping by 1.96 per cent to 1,886.35 basis points.
Stocks have been under increasing pressure this week, with four sessions of loss in contrast to just one session of gain amid a worsening investor sentiment.
The market posted a positive breadth as there were 25 gainers against 10 laggards. The all-share index eased by 296.09 basis points to 37,658.26, while market capitalisation closed lower at N19.627 trillion.
The index has been down by 6.49 per cent since the start of the year.
TOP FIVE GAINERS
Honeywell Flour appreciated 9.93 per cent to close at N1.55. Fidson went up by 9.88 per cent to N5.56. UPL rose to N1.67, notching up 9.87 per cent. Linkage Assurance added 8.33 per cent to end trade at N0.65. Sovereign Insurance climbed by 8 per cent to N0.27.
TOP FIVE LOSERS
NPF Microfinance Bank declined by 8.47 per cent to close at N1.73. Union Bank shed 7.76 per cent to close at N5.35. Mutual Benefits fell to N0.42, losing 4.55 per cent. Eterna slumped to N7.60, recording 4.40 per cent depreciation. ETI closed at N221, going down by 3.91 per cent.
In all, 202.718 million shares estimated at N2.408 billion were traded in 3,630 deals.
GT Holding Company was the most active stock with 21.179 million units of its shares worth N629.856 million traded in 587 transactions. FBN Holdings transacted 15.660 million shares priced at N112.955 million exchanged hands in 102 deals. UCAP had 13.718 million shares valued at N83.184 million traded in 158 deals. Chams traded 13.184 million shares estimated at N2.637 million in 30 transactions. Mutual Benefits traded 11.974 million shares valued at N4.941 million in 38 deals.