Nigerian stocks see slight pullback as investors take profit

Nigerian stocks dipped by 0.11 per cent or N26.9 billion on Friday as the impact of investors hunting recently accrued yield on some stocks notably oil palm processor Presco and Seplat weighed on the broad index. Even so, that was not sufficient to hamper the index from seeing another week of positive returns.

Airtel Africa issued its nine-month-to-December financials where profit spiked by almost two fold to $515 million, assisted by reasonable growth in data and mobile money incomes.

Market breadth, used by investors and market watchers, to determine investors’ sentiment towards trade, was negative given that 24 advancers were reported compared to 18 decliners.

The all-share index tapered by 49.88 basis points to 47,279.92, and market capitalisation to N25.5 trillion.

Year to date, the index is up by 10.68 per cent.

TOP FIVE GAINERS

SCOA led the gainers, appreciating by 9.65 per cent to close at N1.25. Living Trust went up by 8.77 per cent to N1.24. Jaiz Bank rose to N0.71, notching up 5.97 per cent in the process. Guinea Insurance added 4.76 per cent to end trade at N0.22. Champion Breweries completed the top 5, climbing by 4.76 per cent to N2.20.

TOP FIVE LOSERS

Presco was the worst performing stock, declining by 94.50 per cent to close at N10. NEM Insurance shed 9.76 per cent to close at N3.33. International Breweres fell to N5.30, losing 9.40 per cent. UPL slumped to N2.50, recording 5.66 per cent decline. Chams closed at N0.20, going down by 4.76 per cent.

TOP FIVE TRADES

Fidelity Bank was the most active stock with 24.9 million shares worth N71.2 million traded in 138 deals. RT Briscoe traded 23.6 million shares priced at N6.9 million in 111 transactions. Transcorp had 18.5 million shares valued at N16.4 million traded in 117 deals. Chams traded 15.2 million shares estimated at N3 million in 18 transactions. Courteville traded 12.9 million shares valued at N6.8 million in 28 deals.