Nigerian Stock market drops 0.06% and market capitalization declining by N18 billion on Friday

The Nigerian Exchanges Limited All-Share Index dropped by 0.06% to close at 52,594.68 points on Friday. The ASI closed 0.16% higher week-over-week, having gained in two (2) of the five (5) trading sessions this week. As a result, the year-to-date (YTD) return increased to 2.62%, and the market capitalization increased by N44.77 billion weekly to close at N28.65 trillion.

Trade turnover was lower than it had been during the previous session, with a 7.42% decrease in transaction value. In a total of 3,100 transactions, 443.75 million shares worth N1.68 billion were swapped.

While NESTLE (-1.81%) topped the value chart with transactions of $487.65 million, ACCESSCORP (+0.00%) lead the volume chart with 11.35 million shares exchanged. On the gainer’s table, CORNERST (+7.14%) took the top spot, followed by eleven (11) other companies, while LINKASSURE (-9.62%) headed the losers’ list with eleven (11).

Gains for the week were countered by losses for DANGCEM (-1.85% w/w), ZENITHBANK (-4.31% w/w), and GTCO (-1.63% w/w) in AIRTELAFRI (+3.87% w/w), FBNH (+0.42% w/w), and ETI (+3.87% w/w). In terms of market movers, declines in NESTLE (-1.81%), ZENITHBANK (-0.20%), and GTCO (-1.03%) more than offset increases in FBNH (+0.86%) and UBA (+0.62%), putting the market’s performance in the negative territory.

Market breadth ended unchanged.