KEY POINTS

• Investors lost ₦541 billion in market value as the Nigerian stock market fell by 0.33 per cent on Friday.
• The All-Share Index declined by 833.37 points to 248,877.22, reducing its year-to-date return to 59.93 per cent.
• Market breadth remained positive, with 29 stocks gaining against 23 losers, despite the decline in the benchmark index.
• Trading volume fell by 55.90 per cent to 377.66 million shares.

MAIN STORY

The Nigerian stock market ended the week with a loss of ₦541 billion on Friday as selling pressure pushed the benchmark index lower, extending the market’s decline.

Market capitalisation fell by 0.33 per cent, from ₦162.134 trillion at the opening to ₦161.593 trillion at the close. The All-Share Index (ASI) also dropped by 833.37 points, or 0.33 per cent, from 249,710.59 to 248,877.22.

The decline reduced the market’s year-to-date return to 59.93 per cent, showing that the latest losses have taken some of the gains accumulated since the beginning of the year.

However, the number of advancing stocks exceeded decliners, with 29 gainers against 23 losers. This suggests that the overall decline was not shared equally across the market, as more stocks recorded price increases than falls.

THE ISSUES

Champion Breweries and WAPIC led the gainers, rising by 10 per cent each to close at ₦8.80 and ₦2.20 per share, respectively.

Honeywell Flour gained 9.87 per cent to ₦29.50, while Sovereign Trust Insurance advanced by 9.55 per cent to ₦1.95. AXA Mansard also rose by 9.26 per cent to close at ₦11.80.

On the losing side, PZ Cussons recorded the largest decline, falling by 9.94 per cent to ₦64.80. ABC Transport followed with an 8.06 per cent drop to ₦5.70, while Africa Prudential lost 6.07 per cent to close at ₦10.05.

Tantalizers declined by 5.26 per cent to ₦3.60, while University Press fell by 5.15 per cent to ₦4.60 per share.

Trading activity also weakened during the session. Total volume fell by 55.90 per cent to 377.66 million shares, valued at ₦26.87 billion across 32,666 deals.

GTCO dominated trading, accounting for 41.02 million shares, or 10.86 per cent of total volume. Its transactions were valued at ₦4.92 billion, representing 18.32 per cent of the total value traded.

WHAT’S NEXT

The next trading sessions will show whether the market can recover from the latest decline or whether selling pressure will continue to weigh on share prices.

BOTTOM LINE

The market lost ₦541 billion on Friday despite recording more advancing stocks than decliners. The fall in trading volume also points to weaker market activity, as investors ended the week with reduced exposure to equities.