By Dipo Olowookere
Nigeria’s stock market fell 0.06 percent on Friday amid profit-taking in Dangote Sugar, Nestle Nigeria, PZ Cussons and 10 other stocks.
According to data obtained from the Nigerian Exchange (NGX) Limited, the consumer goods, insurance and industrial goods sectors fell 0.62%, 0.25% and 0.03%, respectively. They exceeded the growth of 0.37% registered by the banking space, partly due to the stability maintained by the energy meter.
As a result, the All-Share Index (ASI) decreased 31.74 points to 52,594.68 points from 52,626.42 points, as the market capitalization decreased by N17 billion to N28.647 trillion from N28.664 trillion.
Linkage Assurance topped the loser chart yesterday after it lost 9.62 percent to 47 Kobo, Consolidated Hallmark Insurance fell 7.35 percent to 63 Kobo, Mutual Benefits fell 3.23 percent to 30 Kobo, Dangote Sugar lost 2.58 percent to trade at N17.00, and Jaiz Bank declined 2.22 percent to 88 Kobo.
On the other hand, Abbey Mortgage Bank was at the top of the winners table after it rose 9.80 per cent to N1.68, Prestige Assurance grew 9.52 per cent to 46 Kobo, International Energy Insurance improved 8 .89 percent at 49 Kobo, Cornerstone Insurance gained 7.14 percent to trade at 60 Kobo, and FTN Cocoa increased in value 3.57 percent at 29 Kobo.
trade publication He noted that despite yesterday’s stock market loss, investor sentiment remained strong, with 16 winners and 13 losers indicating positive market breadth.
As for the level of activity, it was mixed during the session as trading volume improved while the value of trades and the number of trades slowed.
A total of 443.8 million shares valued at 1.7 billion naira traded in 3,100 trades on Friday compared to 129.0 million shares valued at 1.8 billion naira traded in 3,183 on Thursday, marking an increase in the volume of transactions of 244.03%. a decrease in the value of transactions by 5.56 percent, and a drop in the number of transactions by 2.61 percent.
Veritas Kapital was the most traded stock yesterday with 347.1 million units, followed by Access Holdings with 11.4 million units. Zenith Bank traded 7.0 million shares, Fidelity Bank traded 6.6 million shares and Chams sold 6.0 million shares.
