Nigerian equity market closes flat at N163.66 trillion as Zichis Agro, R.T. Briscoe rally

The Nigerian Exchange Limited (NGX) closed Friday’s trading session marginally lower, with market capitalisation easing by N20 billion to N163.66 trillion as investors traded 708.81 million shares across 42,434 deals.

The equity market capitalisation slipped from N163.68 trillion recorded on Thursday, while the NGX All-Share Index (ASI) declined 0.015% to 252,113.41 points from 252,150.01 points.

Despite the marginal decline, market breadth remained positive, with 39 stocks gaining against 27 decliners.

Market summary

• All-Share Index (ASI): 252,113.41 points, down 0.015% from 252,150.01 points
• Market Cap: Closed at N163.66 trillion, down 0.015% from N163.68 trillion
• Market value lost: N20 billion
• Total volume: 708.81 million shares, down 27.54% from 978.21 million shares
• Total deals: 42,434 deals, down 12.43% from 48,459 deals

Top 5 gainers

Zichis Agro Allied Industries Plc emerged as the session’s top gainer, rising 10% to N17.60 from N16.00.

Critical Minerals Financing Corp Plc followed with a 9.76% gain to N3.26, while R.T. Briscoe (Nigeria) Plc advanced 9.74% to N10.70.

• ABC Transport Plc gained 9.68% to close at N5.10, while Royal Exchange Plc rose 9.09% to N1.08.
• Zichis Agro Allied Ind. Plc: Up 10.00% to N17.60 from N16
• Critical Minerals Fin. Corp: Up 9.76% to N3.26 from N2.97
• R.T. Briscoe (Nigeria) Plc: Up 9.74% to N10.70 from N9.75
• ABC Transport Plc: Up 9.68% to N5.10 from N4.65
• Royal Exchange Plc: Up 9.09% to N1.08 from N0.99

Top 5 losers

• TotalEnergies Mktg Nig. Plc: Down 10.00% to N518.40 from N576
• Legend Internet Plc: Down 9.09% to N3.50 from N3.85
• Haldane McCall Plc: Down 8.54% to N3 from N3.28
• Caverton Offshore Support: Down 8.05% to N4 from N4.35
• First Holdco Plc: Down 5.09% to N156.60 from N165

Financial stocks dominate trading

The financial services sector remained the biggest driver of market activity, accounting for more than 486 million shares traded across the Main and Premium Boards.

• On the Main Board, financial stocks recorded 356.40 million shares in 10,276 deals, while the Premium Board contributed 115.91 million shares across 7,151 deals.
• Fidelity Bank Plc led individual volume activity with 212.77 million shares, followed by Access Holdings Plc with 72.60 million shares.
• United Bank for Africa (UBA) recorded 23.14 million shares, while Jaiz Bank Plc, Zenith Bank Plc and Guaranty Trust Holding Company (GTCO) recorded 14.20 million, 14.07 million and 12.22 million shares respectively.

The NGX Banking Index, however, declined 0.69% to 2,721.83 points.

Other sector highlights

The conglomerates sector recorded 69.29 million shares in 674 deals, with Transnational Corporation Plc (Transcorp) accounting for 65.74 million shares.

• The Information and Communications Technology (ICT) sector recorded 45.46 million shares, driven by Chams Holding Company Plc with 33.27 million shares, Legend Internet Plc with 4.95 million and MTN Nigeria Communications Plc with 4.36 million shares.
• MTN Nigeria gained 0.94% to close at N863.00.
• Oil and gas stocks recorded 24.39 million shares across the Main and Premium Boards. Japaul Gold & Ventures Plc led activity with 16.13 million shares and gained 2.32% to N2.65.
• Aradel Holdings Plc traded 3.45 million shares at N1,530, while Seplat Energy Plc recorded 1.57 million shares at N16,000.10.
• The NGX Oil/Gas Index slipped 0.13% to 6,243.84 points.
• Consumer goods stocks recorded 10.95 million shares across 3,711 deals, led by International Breweries Plc with 4.92 million shares. The stock gained 2.02% to N10.10.
• Dangote Sugar Refinery Plc recorded 1.52 million shares, while the NGX Consumer Goods Index edged higher to 4,094.36 points.
• The industrial goods sector recorded 14.68 million shares. HBM Nigeria Plc led activity with 7.24 million shares, followed by Cutix Plc with 3.76 million shares. Cutix gained 3.36% to N2.46, while the NGX Industrial Index rose 0.04% to 10,467.63 points.
• The services sector recorded 24.01 million shares across the Main and Growth Boards, supported by gains in R.T. Briscoe and ABC Transport.

Agriculture stocks accounted for 13.67 million shares, with Zichis Agro Allied Industries emerging as the market’s top gainer.

What you should know

Friday’s marginal decline came after Nigerian equities extended their recent rally on Thursday, when market capitalisation gained N622 billion.

Thursday’s advance followed Wednesday’s milestone, when the market capitalisation crossed the N163 trillion mark for the first time.

Despite Friday’s slight pullback, trading remained broad-based, with 39 gainers outnumbering 27 decliners as investors continued to participate actively across several sectors.