Investors on the Nigerian Exchange Ltd. (NGX) lost N103 billion on Friday as profit-taking in major stocks ended the market’s five-session positive trend.
The bearish sentiment was driven by sell-offs in large and mid-cap stocks, including Thomas Wyatt, Ikeja Hotel, Guinness Nigeria, Zichis Agro Allied Industries and McNichols, alongside declines in 23 other equities.
Consequently, the market capitalisation dropped by 0.07 per cent to N156.444 trillion from N156.547 trillion recorded on Thursday.
The All-Share Index (ASI) also fell by 159.97 points, or 0.07 per cent, to close at 243,798.76, compared with 243,958.73 in the previous session.
As a result, the market’s Year-to-Date (YTD) return moderated to 56.67 per cent.
Despite the decline, market breadth remained positive, with 31 gainers against 28 losers.
Thomas Wyatt topped the losers’ chart with a 10 per cent decline to close at N2.43 per share.
Guinness Nigeria followed, shedding 9.99 per cent to N329, while Ikeja Hotel lost 9.96 per cent to close at N42.50.
Zichis Agro Allied Industries fell by 9.94 per cent to N26.37, while McNichols dropped 9.91 per cent to close at N5 per share.
On the gainers’ chart, Nigeria Infrastructure Debt Fund appreciated by 10 per cent to close at N148.50.
International Breweries gained 9.92 per cent to N13.30, while NEM Insurance rose by 9.61 per cent to N27.95 per share.
Jaiz Bank advanced by 6.36 per cent to N9.20, while UPDC appreciated by 6.33 per cent to close at N4.20 per share.
Trading activity closed weaker, with total volume traded declining by 73.36 per cent to 441.27 million shares worth N19.40 billion in 44,938 deals.
ACCESSCORP emerged as the most traded stock by volume, accounting for 40.17 million shares, representing 9.11 per cent of the total volume traded.
Zenith Bank led the value chart with transactions worth N2.47 billion, representing 12.77 per cent of the total value traded.
