Trading on Nigeria’s stock market ended in the red on Friday, as key performance indices dipped by 0.25 per cent.
The Nigerian Exchange Ltd. (NGX) saw its market capitalisation shrink by N167 billion to N66.351 trillion, down from N66.518 trillion on Thursday. Similarly, the All-Share Index fell by 265.81 points to settle at 105,955.13, compared to the previous close of 106,220.94.
Market sentiment remained bearish, with 24 stocks recording losses against 22 gainers.
Leading the losers’ chart, Tantalizer shed 9.85 per cent to close at N2.93, while Jaiz Bank dropped 9.72 per cent to end at N3.25 per share. Neimeth International Pharmaceutical declined by 9.45 per cent to N2.49, while Dangote Sugar fell 7.76 per cent to close at N35.05 per share. Additionally, Lasaco Assurance dipped 5.96 per cent to N2.68 per share.
On the positive side, Royal Exchange surged by 10 per cent to close at 88k, while Linkage Assurance climbed 9.57 per cent to N1.26 per share. Guinea Insurance advanced 9.52 per cent to 69k, and Nigerian Enamelware rose 9.05 per cent to N25.30 per share. Red Star Express also gained 8.41 per cent to close at N5.80 per share.
Trading volume was robust, with 750.56 million shares valued at N11.056 billion exchanged in 10,584 deals, compared to 341.70 million shares worth N16.655 billion in 11,233 transactions recorded previously.
Champion Breweries dominated trading activity, with 350.37 million shares valued at N1.401 billion changing hands. Tantalizer followed closely with 53.070 million shares worth N157.14 million, while Custodian Investment saw 51.11 million shares traded for N1 billion. Other actively traded stocks included Lasaco Assurance, with 36.501 million shares worth N97.714 million, and Access Corporation, which recorded 30.703 million shares valued at N722.99 million.
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