The Nigerian equities market slid back to bearish territory on Friday as investors lost ₦154 billion at the close of the day’s trading.
This followed a dip in the share prices of stocks like IKEJA HOTEL, TRANSCORP, and FCMB, amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to ₦66.7 trillion from ₦66.8 trillion posted by the bourse on Thursday.
The benchmark All-Share Index (ASI) dropped to 106,533.26 from 106,780.72 points recorded the previous day.
The market breadth was positive as 32 stocks advanced and 18 stocks declined, while 72 stocks remained unchanged in 11,729 deals.
LIVESTOCK, HONEY FLOUR, and EUNISELL led other gainers with 9.87%, 9.80%, and 9.69% growth each in prices to close at N8.35, N13.45, and N10.75 from the previous N7.60, N12.2,5 and N9.80 per share.
IKEJA HOTEL, TRANSCORP, and FCMB led other price decliners with 9.70%, 9.46%, and 7.61% dip in share prices to close at N10.70, N46.90 and N9.10 from the previous N11.85, N51.80 and N9.85 per share.
On the volume index, ZENITH BANK led trading with 42 million shares in 912 deals, followed by FIDELITY BANK, which traded 35 million shares in 419 deals.
ACCESS CORP traded 31 million shares in 686 deals.
On the value index, ZENITH BANK topped as the security traded stock worth N2 billion in 912 deals, followed by OKOMU OIL, which traded equities worth N1.3 billion in 86 deals.
GTCO traded shares valued at N941 million in 856 deals.
By: Babajide Okeowo
Source: Ripples
