The stock market on Friday closed the week on a bearish note as key performance indicators dipped by 0.46 per cent.
Specifically, the Nigerian Exchange Limited market capitalisation declined by N313billion, or 0.46 per cent, to N68.339 trillion from N68.652 trillion recorded on Thursday.
The All-Share Index also dropped by 0.46 per cent or 498.56 points to close at 108,733.40 down from 109,231.96 posted earlier.
The decline, after five days of bullish trend, was largely attributed to sell-offs in heavyweight stocks. However, the market breadth closed positive with 34 gainers against 33 losers.
On the advancers’ chart, ABC Transport gained by 10 per cent to close at N2.86 while Sterling Nigeria also rose by 10 per cent, settling at N6.05 per share. Chellaram soared by 9.94 per cent, finishing at N10.40 and Academy grew by 9.92 per cent, ending the session at N4.32 per share. Similarly, Red Star Express increased by 9.90 per cent, closing at N5.55 per share.
On the flip side, Transcorp Power Plc fell by 9.98 per cent to close at N328.50 while Haldane McCall declined by 9.57 per cent, finishing at N4.25 per share. Meyer Plc dropped by 9.09 per cent, ending the session at N8 and Regalins lost by 6.78 per cent, settling at 55k per share.
Sunu Assurance shed by 6.73 per cent, closing at N4.99 per share. A total of 459.21 million shares worth N11.164 billion were exchanged across 15,723 transactions. This is compared to 554,069 million shares worth N14.35 billion that was exchanged across 16,704 deal.
Transactions in the shares of Tantalizer topped the activity chart with 101.38 million shares worth N237.33 million. Guaranty Trust Holding Company followed with 51.28 million shares valued at N3.54 billion while Access Corporation sold 45.17 million shares worth N975.27 million. Zenith Bank transacted 21.79 million shares valued at N1.06 billion and Sterling Nigeria traded 15.50 million shares worth N91.76 million.
