Nigerian stocks’ bearish run continued on Friday as the benchmark index dipped 0.19 per cent, which means equities have now fallen by 2.6 per cent week-on-week.
Big bank stocks including GTCO, FBN Holdings, Access and Zenith as well as MTNN set the decline in motion.
MTNN, which launched its public shares sales this week, crumbled to N167 per unit, putting its market price now below its public offer price, which stands at N169.
Market breadth, which weighs the level of investors sentiment towards trade, was negative as 18 laggards emerged against 13 risers.
The all-share index eased by 80.07 basis points to 42,167.91, while market capitalisation dropped to N22 trillion. The index has gained 4.71 per cent so far this year.
TOP FIVE GAINERS
UPDC led advancers, appreciating by 10 per cent to N0.99. Linkage Assurance climbed up by 9.80 per cent to N0.56. NEM added up 9.76 per cent to end trade at N2.25. Prestige advanced by 8.51 per cent to N0.51. Academy Press rose to N0.39, notching up 8.33 per cent.
TOP FIVE LOSERS
FTN Cocoa topped the losers’ chart, declining by 7.89 per cent to close at N0.35. Consolidated Hallmark went down by 6.38 per cent to end today’s trade at N0.44.
Champion fell to N2.40, losing 5.88 per cent. Courtville slumped to N0.37, recording 5.13 per cent slip. Chams closed at N0.21, going down by 4.55 per cent.
TOP FIVE TRADES
In all, 181 million shares valued at N2.4 billion were traded in 4,019 transactions.
GTCO was the most active stock, with 24 million of its shares worth N581.6 million traded in 357 deals. Mutual Benefits saw 20.2 million units of its shares priced at N5 million exchanged hands in 43 transactions.
Access traded 18.7 million shares valued at N168.3 million in 120 deals. ETI traded 9.4 million shares estimated at N76 million in 48 transactions. UCAP transacted 9.4 million shares valued at N91.8 million in 99 deals.
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