Stock market records N81 billion loss
The equities market reversed its bullish run on Friday, recording a loss of N81 billion after five consecutive sessions of gains.
Selloffs in major stocks, including Mutual Benefits Assurance, Lasaco Assurance, Daar Communications, PZ Cussons Nigeria, NGX Group and 16 others, pushed the market into negative territory.
The market capitalisation of listed equities declined by N81 billion, or 0.09 per cent, from N89.003 trillion to N88.922 trillion.
Similarly, the All-Share Index (ASI) shed 120.16 points, representing a 0.09 per cent drop, to close at 140,545.69 against 140,665.85 posted on Thursday.
In spite of the decline, market breadth closed positive with 32 gainers compared to 21 losers.
FG162029S1 topped the gainers’ table, appreciating by 100 per cent to settle at N100 per share.
Etranzact and Regency Alliance Insurance followed, rising by 9.93 per cent each to close at N14.95 and N1.66 per share respectively.
Chellaram advanced by 9.92 per cent to end at N13.30, while Industrial and Medical Gases gained 9.91 per cent to close at N36.60 per share.
Conversely, Mutual Benefits Assurance led the losers’ chart, dropping 7.80 per cent to N3.90 per share.
Lasaco Assurance dipped 5.97 per cent to N2.99, while Daar Communications shed 4.50 per cent to close at N1.06 per share.
PZ Cussons Nigeria fell 3.33 per cent to N34.85, and NGX Group declined 3.30 per cent to N60.15 per share.
Market activity showed a 15 per cent increase in volume, a 30 per cent rise in turnover, and a 3 per cent improvement in deals.
Overall, 434.7 million shares valued at N16.17 billion were exchanged in 23,729 transactions, compared to 378.2 million shares worth N12.4 billion in 22,935 deals previously.
Secure Electronic Technology led the activity chart with 71.4 million shares valued at N58.7 million.
Access Corporation followed with 40.9 million shares worth N1.1 billion, while Sterling Nigeria traded 37.1 million shares valued at N279 million.
Regency Alliance Insurance recorded 20.1 million shares worth N33.4 million, while CHAMS sold 19.4 million shares valued at N62.8 million.
(NAN)
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