The Nigerian stock market reversed to a bearish trend on Friday, as investors lost N306 billion, bringing the week’s trading to a negative close.
The decline was driven by profit-taking in large and mid-cap stocks, including Presco, Thomas Wyatt Nigeria, Trans-Nationwide Express, Royal Exchange and LivingTrust Mortgage Bank, alongside losses in 20 other equities.
Market capitalisation declined by N306 billion, or 0.19 per cent, to close at N159.587 trillion from N159.893 trillion.
Similarly, the All-Share Index fell by 474 points, or 0.19 per cent, to 247,357.40 from 247,831.40 recorded on Thursday.
However, the market breadth closed positively, with 33 gainers against 25 losers, while the Year-to-Date return moderated to 58.96 per cent.
On the gainers’ chart, Coronation Infrastructure Fund led by 10 per cent, finishing at N127.60, Cileasing trailed by 9.48 per cent, settling at N6.35 while Cornerstone Insurance increased by 9.09 per cent, ending the session at N6 per share.
Similarly, RT Briscoe advanced by 8.61 per cent, settling at N13.25 and Honeywell Flour climbed by 7.38 per cent, closing at N17.45 per share.
Conversely, Presco led the losers’ chart by 10 per cent, ending the session at N2,070, Thomas Wyatt Nigeria followed by 9.93 per cent, settling at N3.63 and Trans-Nationwide Express shed by 8.44 per cent, finishing at N2.82 per share.
Also, Royal Exchange shed by 7.86 per cent, closing at N1.29 while Livingtrust Mortgage Bank dipped by 7.32 per cent, settling at N3.80 per share.
Market activity weakened during the session as total trading volume declined by 21.45 per cent to 614.55 million shares valued at N32.95 billion in 55,282 transactions.
Access Corporation emerged as the most traded stock by volume with 128.01 million shares, representing 20.83 per cent of the day’s total volume.
Aradel led by value with transactions worth N6.62 billion, accounting for 20.10 per cent of the total value traded.
