15 Equities Further Weaken NGX Index by 0.35%
By Dipo Olowookere
The key performance indicators of the Nigerian Exchange (NGX) Limited further depreciated by 0.35 per cent on Friday as investors intensified their profit-taking sentiment.
A total of 15 equities depreciated in price during the session as 14 stocks gained points, indicating a weak investor sentiment and a negative market breadth.
The loss was mainly driven by industrial goods and energy sectors, which fell by 0.32 per cent and 0.15 per cent respectively, while the banking, insurance and consumer goods counters appreciated by 0.23 per cent, 0.13 per cent and 0.06 per cent apiece.
When the market closed for the session, the All-Share Index (ASI) decreased by 175.76 points to 49,370.62 points from 49,546.38 points, while the market capitalisation went down by N95 billion to settle at N26.629 trillion compared with the previous day’s N26.724 trillion.
During the session, investors bought and sold 132.2 million shares worth N1.6 billion in 3,045 deals compared with the 147.0 million shares worth N2.7 billion transacted in 3,180 deals, indicating a decline in the trading volume, value and number of deals by 10.04 per cent, 38.64 per cent and 4.25 per cent respectively.
FBN Holdings emerged as the busiest stock on the last trading day of the week with the sale of 37.8 million units valued at N418.7 million, followed by Access Holdings, which sold 15.4 million units worth N127.5 million. UBA transacted 9.3 million shares for N65.5 million, GTCO exchanged 8.9 million equities valued at N181.2 million, while Zenith Bank traded 7.1 million shares for N155.1 million.
On the price movement chart, University Press recorded the biggest fall yesterday after its value went down by 9.95 per cent to N1.72. IMG Nigeria depreciated by 9.70 per cent to N7.45, Japaul crashed by 9.38 per cent to 29 Kobo, Honeywell Flour fell by 8.33 per cent to N2.42, while Chams dropped 7.41 per cent to 25 Kobo.
The biggest price riser for the day was Jaiz Bank, which grew by 5.95 per cent to 89 Kobo and was followed by AIICO Insurance, which appreciated by 3.64 per cent to 57 Kobo. Academy Press rose by 1.96 per cent to N2.08, Dangote Sugar expanded by 1.88 per cent to N16.30, while UPDC REIT gained 1.56 per cent to settle at N3.25.