The Nigerian stock market down by 21bps on Friday

The Nigerian stock market saw a decline for the third consecutive session, dropping by 21 basis points to close at 100,156.96 points. The market was driven lower by further sell-offs in GTCO (-0.56%), FBNH (-2.79%), and UBA (-2.78%), putting the index on course for a weekly loss. As a result, the year-to-date return fell to 33.95%, and the market capitalization decreased by ₦117.90bn to end at ₦56.71trn.

Trading activity increased compared to the previous session, with transaction value rising by 12.43%. A total of 1.34 billion units valued at ₦9.67bn were traded in 8,198 deals. FIDELITYBK (-0.93%) led in volume with 53.42 million units traded, while ZENITHBANK (-2.57%) dominated in value with transactions worth ₦40.59m. OMATEK (-10.00%) led twenty-three others on the losers’ list, while CUSTODIAN (+8.51%) topped eleven others on the gainers’ list.