The Nigerian stock market ended Friday’s trading session on a negative note, extending its Thursday loss. Sell-offs in DANGCEM, OKOMUOIL, and GUINNESS dragged the ASI down by -0.43% to 24,826.75 index points.
The value of listed stocks on the local bourse decreased from N13.006 trillion to N12.951 trillion as investors lost N55.64 billion. Accordingly, the Month-to-Date and Year-to-Date losses print at -1.79% and -7.59%, respectively.
Although the volume of shares traded rose slightly by 2.03% to 174.67 million units, value traded fell by -9.06% to N2.01billion as 3,695 deals exchanged hands.
MBENEFIT was the most traded stock by volume at 26.5million units, followed by ZENITH BANK, with 12.6 million units of trades.
Market sentiment, as measured by market breadth, was negative as 21 tickers declined, relative to 13 gainers. UPL and NEIMETH were the top losers of the day with 10.00% and 9.94 declines, while BUACEMENT and FBNH recorded the largest gains with 6.28% and 3.92% appreciation in share value.
Performance across sectors was unimpressive as only the Industrial Goods index (+2.67%) appreciated as a result of gains in BUACEMENT (+6.28%) and WAPCO (+1.82%t). The Banking (-0.22%t) and Consumer Goods (-0.21%) indices fell slightly due to losses in STERLNBNK (-7.69%) and GUINNESS (-2.86percent).
The Insurance (-0.14%) and Energy index (-0.05%) also lost, following price declines in CUSTODIAN (-3.33%), WAPIC (-2.94%) and OANDO (-1.96%).
DANGCEM down 6.47% to close at N130, OKOMUOIL down 4.48% to close at N64, CUSTODIAN down 3.33% to close at N5.8, GUINNESS down 2.86% to close at N17, UACN down 2.78% to close at N7
BUACEMENT up 6.28% to close at N44, FBNH up 3.92% to close at N5.3, WAPCO up 1.82% to close at N11.2, TOTAL up 1.46% to close at N97.5, MTNN up 0.52% to close at N116.1
The market continued its bearish trend as major blue-chip stocks like DANGCEM witnessed sell-offs, amid low market liquidity. Nairametrics envisages you seek the recommendation of stocks from a certified financial advisor, as market fundamentals show high unpredictability.