NSE: Market extends loss by N20bn amid profit-taking in mid-cap stocks | Ripples Nigeria
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NSE: Market extends loss by N20bn amid profit-taking in mid-cap stocks



For the second straight day running, the Nigerian stock market recorded loss on Friday as the volume of equities put up for sale, particularly mid-cap stocks, outweighed investors’ demand.

Nigerian Breweries, Julius Berger and UACN contributed in no small measure to the bearish trend.

Apart from emerging the top performer of the 5 sectors appraised, the Banking Index was the only advancer also, climbing by 0.32% to 267.55 basis points.

Trade ended with a negative breadth with 27 gainers recorded against 9 losers.

The All Share Index (ASI) dipped by 0.48% to close at 21,861.78 basis points. The market capitalisation climbed up by N54.365 billion to N13.765 trillion at the end of today’s trade. Year to date, the index is down by 18.55%.


Ikeja Hotel led the flock of gainers today, appreciating by 9.68% to close at N1.02. Royal Exchange added up 8.33% to end today’s trade at N0.26. Wema Bank went up by 5.77% to N0.55. Wema Bank rose to N0.67, notching up 4.69% in the process. Unity Bank completed the top 5, climbing by 4% to N0.52.

READ ALSO: NSE: Banking Index worst hit as market closes in negative territory


UACN led losers at Friday’s trade, declining by 10% to close at N7.20. Red Star Express shed 10% to end today’s trade at N2.97. Jaiz Bank fell to N0.54, losing 8.47%. Neimeth slumped to N1.50, recording 7.98% depreciation. Caverton closed at N1.83, going down by 7.58%.


144.312 million shares estimated at N1.523 billion were traded today in 3,993 deals.

GTB was the most active stock with 29.147 million of its stocks worth N606.959 million traded in 138 deals. 27.230 million units of Zenith Bank shares priced at N416.765 million exchanged hands in 742 transactions. Transcorp had 8.881 million shares valued at N5.504 million traded in 76 deals. FBN Holdings traded 8.285 million shares estimated at N41.963 million in 204 transactions. Fidelity Bank traded 7.248 million shares valued at N12.274 million in 88 deals.

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