The major performance indicator of the domestic stock market weakened by 0.65 per cent on Friday on the back of a sustained profit-taking by investors.
According to data obtained by Business Post from the Nigerian Exchange (NGX) Limited, only the consumer goods index closed bullish, by 0.17 per cent, and it could not sway the pointer to the green territory.
The industrial goods sector depleted by 3.64 per cent, the energy industry slipped by 1.00 per cent, the banking counter depreciated by 0.77 per cent, and the insurance space crumbled by 0.60 per cent, while the commodity sector closed flat.
At the close of business, the All-Share Index (ASI) was trimmed by 783.29 points to 119,995.76 points from 120,779.05 points and the market capitalisation shrank by N496 billion to N75.962 trillion from N76.458 trillion.
It was observed that the level of activity was lower yesterday, with the trading volume, value, and number of deals declining by 29.92 per cent, 29.67 per cent, and 14.09 per cent, respectively.
A total of 625.8 million units of shares valued at N12.8 billion exchanged hands in 21,800 deals on Friday compared with the 893.0 million units of shares worth N18.2 billion traded in 25,375 deals on Thursday.
Japaul topped the activity chart after the sale of 88.3 million units worth N192.0 million, Ellah Lakes transacted 80.0 million units valued at N555.8 million, Access Holdings exchanged 56.0 million units for N1.3 billion, Caverton traded 54.0 million units valued at N271.2 million, and Zenith Bank sold 30.6 million units worth N1.8 billion,
The for second straigth trading session, investor sentiment was weak yesterday, with 27 price gainers and 32 price losers, representing a negative market breadth index.
Legend Internet lost 9.98 per cent to finish at N8.03, BUA Cement depreciated by 9.92 per cent to N95.40, FTN Cocoa closed lower by 9.76 per cent to N3.33, Oando shed 8.72 per cent to N56.50, and McNichols declined by 8.44 per cent to N2.17.
On the flip side, Neimeth gained 10.00 per cent to close at N5.94, Learn Africa appreciated by 9.91 per cent to N5.10, MeCure increased by 9.91 per cent to N12.20, Academy Press leapt by 9.44 per cent to N5.10, and Smart Products Nigeria expanded by 0.90 per cent to 60 Kobo.