Lagos: Investors on the Nigerian Exchange Ltd. (NGX) lost N939 billion on Friday as sustained profit-taking in banking and industrial stocks extended the market’s bearish run to six consecutive trading sessions.
Market capitalisation declined by 0.62 per cent, falling from N152.266 trillion in the previous session to N151.327 trillion at the close of trading.
Similarly, the All-Share Index (ASI) shed 1,463.65 points, or 0.62 per cent, to close at 235,941.27, compared with 237,404.92 recorded on Thursday.
The downturn weakened the market’s Year-to-Date (YTD) return to 51.62 per cent, while market breadth closed negative with 31 losers against 21 gainers.
Nigerian Aviation Handling Company (NAHCO) and Royal Exchange topped the losers’ chart, each declining by 10 per cent to close at N148.50 and N1.53 per share, respectively.
GTCO fell by 9.97 per cent to N115.55 per share, while First HoldCo shed 9.84 per cent to close at N55. Neimeth Pharmaceuticals also declined by 9.60 per cent, ending the session at N8.98 per share.
On the gainers’ table, Deap Capital Management rose by 9.89 per cent to close at N4.89 per share.
RT Briscoe gained 9.62 per cent to settle at N13.10, while International Energy Insurance advanced by 7.43 per cent to close at N5.06 per share.
Jaiz Bank appreciated by 7.14 per cent to N9, while LivingTrust Mortgage Bank gained 5.26 per cent to close at N4 per share.
Trading activity weakened significantly, with total volume traded declining by 36.33 per cent to 440.36 million shares worth N24.68 billion exchanged in 50,273 deals.
Access Corporation led the volume chart with 64.97 million shares traded, representing 14.75 per cent of total market volume.
MTN Nigeria emerged as the most valuable stock traded during the session, with transactions worth N4.64 billion, accounting for 18.78 per cent of total market turnover.
The latest decline underscores continued investor caution as profit-taking pressure persists across key sectors of the market.
