Investors lose N279 billion after selling pressure on big-cap stocks

Investors lose N279 billion after selling pressure on big-cap stocks

Nigerian stocks retreated by 1.37 per cent on Friday, obliterating the feeble gain recorded at the session before as a number of big-cap stocks like MTN, Dangote Cement and BUA Cement took a hit from profit-taking efforts.

The industrial goods index was the worst hit of the five sectorial indices, dipping by 4.40 per cent to 1,873.17 points.

Market breadth was positive, with 26 gainers emerging against 11 losers.

The all-share index closed lower by 532.45 points at 38,382.39 points while market capitalisation fell by N278.579 billion to N20.082 trillion.

Year to date, the index is down by 4.69 per cent. TOP FIVE GAINERS

Ikeja Hotel led gainers, appreciating by 10 per cent to close at N1.10. Eterna added 9.84 per cent to end trade at N5.58. UCAP advanced by 7.37 per cent to N5.10. Union Bank rose to N5.30, notching up 4.95 per cent in the process. Africa Prudential completed the top 5, climbing up by 5.35 per cent to N4.90. TOP FIVE LOSERS

Lasaco topped the losers’ chart, declining by 6.92 per cent to close at N1.21. BUA Cement shed 6.42 per cent to end trade at N69.95. Neimeth fell to N1.78, losing 6.32 per cent. Courteville slumped to N0.20, recording 4.76 per cent depreciation. Oando closed at N3.05, going down by 4.39 per cent. TOP FIVE TRADES

In all, 290.616 million shares valued at N4.018 billion were traded in 4,311 deals, with liquidity dropping by 80 per cent.

Zenith was the most active stock with 66.100 million of its shares worth N1.481 billion traded in 683 deals. 51.814 million units of Unity Bank shares priced at N37.310 million exchanged hands in 13 transactions. GTB had 39.386 million shares valued at N1.228 billion million traded in 668 deals. Aiico traded 26.843 million shares estimated at N33.223 million in 89 transactions. Access traded 12.700 million shares valued at N101.076 million in 182 deals.

Stay in the Know!

Sign up for the latest news and information on African Companies and Economy.

By signing up, you agree to receive MoneyInAfrica offers, promotions and other commercial messages. You may unsubscribe at any time.

Leave a Reply