Nigerian stocks dipped 0.08 per cent on Thursday, its first time in eight days, as the benchmark index came under pressure from enormous sell-offs of large-cap bank equities.
Access, UBA, Guaranty Trust Holding Company and Stanbic IBTC Holdings, four of Nigeria’s biggest bank by market value led the slide in a retreat that also saw liquidity drop by a fifth.
Market breadth, the barometer for determining the faith of investors in the market, closed negative, with 16 losers reported, relative to 12 advancers. It is probable, however, that that will swing back to positive on Friday if profit-taking efforts in bank stocks cease and the level of interest in other stocks is sustained.
The all-share index shed 31.44 basis points to close at 38,469.87, while market capitalisation edged down to N20.043 trillion.
The index has been down by 4.47 per cent since the start of the year.
TOP FIVE GAINERS
NEM led gainers, appreciating by 10 per cent to close at N2.20. Courteville added up 9.52 per cent to end trade at N0.23. NAHCO advanced by 5.71 per cent to N2.59. Caverton rose to N1.89, notching up 4.42 per cent. Transcorp completed the top 5, climbing up by 4.40 per cent to N0.95.
TOP FIVE LOSERS
Prestige topped the losers’ chart today, declining by 10 per cent to close at N0.45. Pharma Deko shed 9.70 per cent to end trade at N1.21. UPL fell to N1.52, losing 7.88 per cent. Universal Insurance slumped to N0.56, recording 5.08 per cent depreciation. Mutual Benefits closed at N0.41, going down by 4.65 per cent.
TOP FIVE TRADES
In total, 238.244 million shares valued at N2.582 billion were traded today in 3,927 deals.
Transcorp was the most active stock with 34.438 million of its stocks worth N32.136 million traded in 149 deals. Courteville had 26.368 million shares, priced at N5.892 million, exchange hands in 48 transactions. Zenith traded 23.658 million shares valued at N590.347 million in 353 deals. Fidelity traded 20.448 million shares estimated at N47.420 million in 142 transactions. Chams traded 15.115 million shares valued at N3.023 million in 28 deals.