Nigerian stock market down by 37 basis points on Friday
The Nigerian stock market ended the trading session today with a 37bps decline, closing at 97,612.51 points. The market saw continued selloffs in ZENITHBANK (-2.76%), FBNH (+9.31%), and UBA (-4.00%), leading to a weak performance. Consequently, the market capitalization dropped by ₦206.63tn to close at ₦55.22tn.
Today’s market activities analysis revealed a higher trade turnover compared to the previous session, with the value of transactions increasing by 104.45%. A total of 769.10m shares valued at ₦15.74bn were traded in 7,585 deals. ETI (-9.98%) led both the volume and value tables with 554.97m units traded in deals worth ₦12.02bn.
Market breadth ended negative with declining issues surpassing advancing ones at a ratio of 0.89-to-1. PZ (-10.00%) led seventeen others on the laggard’s log, while INTENEGINS (+9.93%) topped fifteen others on the leader’s table.
In the sectoral breakdown, the NGX Oil and Gas Index (+0.72%w/w), the NGX Consumer Goods Index (+0.31%w/w), and the NGX Industrial Goods Index (+0.19%w/w) closed positively. On the other hand, the NGX Banking Index (-7.35%w/w), the NGX Insurance Index (-3.50%w/w), the NGX Pension Index (-2.79%w/w), and the NGX 30 Index (-0.63% w/w) ended in the negative territory.
