Nigerian stocks declined further on Friday as the benchmark index contracted 0.7 per cent and profit-taking efforts were recorded even in the shares of some of the firms that posted strong half-year earnings.
Sell-off in the shares of cement makers BUA Cement and Dangote Cement triggered the drop in a session where transaction volume improved by as much as 104 per cent compared to a day ago.
Market breadth, which measures investors’ sentiment to trade, closed in the negative as 24 laggards emerged compared to 19 gainers. The rest 63 participating stocks did not record any movement.
The all-share index dropped 350.5 points to at 49,664.1, while market capitalisation decreased to N26.8 trillion.
The index has added 16.3 per cent since the year started.
TOP FIVE GAINERS
BUA Foods led gainers, appreciating by 10 per cent to close at N59.95. NEM grew by 9.98 per cent to end trade at N4.41.
Courtville went up by 9.80 per cent to N0.56. Ikeja Hotel rose to N1.27, notching up 9.48 per cent in the process. Multiverse traded up 8.44 per cent to N2.44.
TOP FIVE LOSERS
BUA Cement topped the losers’ chart, declining by 9.95 per cent to close at N52.95. Chams shed 9.68 per cent to end trade at N0.28. Cutix closed at N2.05, going down by 8.89 per cent.
Ellah Lakes fell to N4, losing 6.98 per cent in the process. Unity Bank slumped to N0.43, recording a 6.52 per cent depreciation.
TOP FIVE TRADES
Altogether, 750.3 million shares estimated at N5.3 billion were traded in 4,076 deals.
ETranzact was the most active stock with 77.6 million of its shares worth N176.9 million traded in 6 deals. Wapic traded 37.1 million shares priced at N6.4 million in 20 transactions.
FBN Holdings had 30.5 million shares valued at N333.2 million exchange hands in 158 deals. UBA traded 13.2 million shares estimated at N92.7 million in 205 transactions. Zenith traded 9.7 million shares valued at N207.4 million in 312 deals.