Nigerian stocks slightly declined on Thursday as the benchmark index fell 0.08 per cent but the loss was powerful enough to cancel the gains recorded at the session before.
The pullback means all the five sector indexes tracked by the bourse with exception of the insurance index shed value, with the oil and gas index more pressured than the rest.
MTN Nigeria said early in the day through a regulatory filing it would open a public share offer for retail investors and a bid for institutional investors this month as its Johannesburg-based parent company MTN Group looks to sell 575 million units of its stake in the entity.
Market breadth was negative as 25 losers were reported compared to 13 gainers.
The all-share index dropped 31.62 basis points to 41,943.83, while market capitalisation eased to N20.9 trillion.
Year to date, the index is up 4.15 per cent.
TOP FIVE GAINERS
SCOA led gainers, appreciating by 9.47 per cent to close at N1.04. Linkage Assurance grew 7.55 per cent to end trade at N0.57. Okomu Oil went up by 5.19 per cent to N142. AIICO rose to N1.28, notching up 4.92 per cent in the process. Honeywell completed the top 5, climbing up 4.60 per cent to N3.64
TOP FIVE LOSERS
Pharma Deko topped the losers’ chart, declining by 10 per cent to close at N2.34. Unilever shed 8.65 per cent to end today’s trade at N14.25. Red Star Express fell to N3.12, losing 8.24 per cent in the process. Royal Exchange slumped to N0.48, recording 7.69 per cent depreciation. Cutix closed at N5.55, going down by 7.50 per cent.
TOP FIVE TRADES
A total of 160.9 million shares estimated at N1.4 billion were traded in 3,688 deals.
FBN Holdings was the most active stock with 19.5 million of its shares worth N208.3 million traded in 244 deals. Lasaco traded 10.6 million shares, priced at N10.6 million exchanged hands in 64 transactions. Transcorp had 10.6 million shares valued at N10.7 million traded in 70 deals. Japaul traded 8.7 million shares estimated at N3.4 million in 38 transactions. NGX Group traded 8.1 million shares valued at N154.1 million in 143 deals.
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