Investors lost N56 billion on Friday as losses in Tier-1 banking equities sent the market indices into negative territory.
The market performance was negatively impacted, namely, by sell-offs in the stocks of African Prudential, Zenith Bank, FBN Holdings, Guaranty Trust Holding Company (GTCO), Wema Bank, Fidelity Bank, Nestle, and other declining equities.
The market capitalization so dropped to N56.423 trillion at the closing after opening at N56.479 trillion, or 0.10 percent.
As a result, the All-Share Index finished at 99,743.05, down 100 points or 0.10 percent from the previous session’s high of 99,842.94.
Along with 26 laggards and 23 leaders on the exchange floor, market breadth also closed negatively.
As indicated by the gainers’ log, International Breweries closed at N4.40, ahead of Thomas Wyatt, which closed at N2.10. Chams closed at N2.34 a share, ahead of 9.86 percent.
John Holt gained 9.66% to close at N2.61 per share, while Champion increased by 9.83% to settle at N3.91.
On the other hand, RT Briscoe trailed by 7.36% to conclude at 62k per share, while Multiverse led the losers’ ledger by 9.68% to close at N11.20.
Closed at N1.20, Sunu Assurances saw a 6.25 percent decline, NEM Insurance saw a 5.95 percent decline to N7.90, and Fidelity Bank saw a 4.81 percent decline to N9.90 per share.
Analyzing the market activity in the interim revealed that trade turnover had decreased from the previous session, with a 55.20 percent decrease in transaction value.
In 9,273 transactions, investors swapped 617.22 million shares valued at N11.35 billion, while on Thursday, 8,364 deals saw the exchange of 1.3 million shares valued at N25.33 billion.
With 207.91 million shares valued at N4.57 billion, FBN Holdings led the activity log in terms of both volume and value. GTCO came in second with 58.55 million shares valued at N2.6 billion.
Veritas Kapital sold N55.20 million worth of shares, AIICO Insurance traded 46.83 million worth of shares, Fidelity Bank transacted 38.44 million worth of shares, and Veritas Kapital traded 46.83 million worth of shares.
