The Nigerian Exchange (NGX) Limited closed lower by 0.29 per cent on Friday, reversing the gains it posted a day earlier due to profit-taking.
Data showed that only 11 equities ended on the gainers’ chart yesterday, with the number of price losers at 43, indicating a weak investor sentiment and negative market breadth index.
LivingTrust Mortgage Bank lost 10.00 per cent to sell for N4.77, Veritas Kapital depreciated by 9.91 per cent to N2.00, Secure Electronic Technology weakened by 8.54 per cent to 75 Kobo, NGX Group slumped by 8.32 per cent to N55.10, and United Capital slipped by 7.56 per cent to N18.95.
On the flip side, Deap Capital appreciated by 9.94 per cent to N1.88, Sovereign Trust Insurance expanded by 7.67 per cent to N3.09, Nigerian Breweries closed higher by 6.37 per cent to N75.95, Guinness Nigeria gained 4.49 per cent to end at N183.90, and Legend Internet grew by 3.89 per cent to N5.61.
Yesterday, a total of 435.2 million shares valued at N15.1 billion exchanged hands in 24,309 deals versus the 325.1 million shares worth N8.4 billion traded in 22,779 deals, indicating an improvement in the trading volume, value, and number of deals by 33.87 deals, 79.76 per cent, and 6.72 per cent apiece.
UBA topped the activity chart with 82.1 million equities sold for N3.6 billion, Access Holdings transacted 29.4 million shares valued at N765.2 million, Zenith Bank exchanged 27.9 million stocks worth N1.8 billion, Chams traded 19.5 million equities valued at N63.7 million, and First Holdco sold 18.0 million stocks worth N575.6 million.
Business Post reports that apart from the consumer goods space, which gained 0.61 per cent, and the commodity landscape, which closed flat, every other sector lost weight.
The banking index was down by 1.93 per cent, the insurance counter depreciated by 1.27 per cent, the energy sector shrank by 0.13 per cent, and the industrial goods space depleted by 0.01 per cent.
Consequently, the All-Share Index (ASI) declined by 417.73 points to 141,845.34 points from 142,263.07 points and the market capitalisation went down by N265 billion to N89.744 trillion from N90.009 trillion.