The Nigerian equities market snapped its 26th consecutive day of bullish runs on Friday with N516 billion loss for investors at the close of the day’s trading.
This followed a dip in the share prices of stocks like Abbey Mortgage Bank Plc, Custodian & Allied Plc and Deap Capital Management & Trust, among others, on the trading floor.
The benchmark All-Share Index (ASI) crashed to 145,754.91 points from 146,570.71 points recorded the previous day.
After five hours of trading at the capital market, the equity capitalisation decreased to N92.251 trillion from the N92.730 trillion, which the bourse recorded on Thursday.
The market breadth was positive, with 42 stocks advancing, 29 stocks declining, and 65 stocks remaining unchanged in 35,036 deals.
Champion Breweries (CHAMPION), Union Dicon Salt (UNIONDICON) and Universal Insurance Company (UNIVINSURE) led other gainers with 10% growth each in prices to close at N14.41, N9.91, and N1.10 from the previous N13.10, N9.00 and N1.00 per share.
Abbey Mortgage Bank Plc (ABBEYBDS), Custodian & Allied Plc (CUSTODIAN), and Deap Capital Management & Trust (DEAPCAP) led other price decliners 9.87%, 8.48%, and 7.53% decline each in share prices to close at N6.30, N40.45 and N1.46 from the previous N6.99, N44.20 and N1.35 per share.
On the volume index, Linkage Insurance Plc (LINKASSURE) led trading with 585 million shares in 292 deals, followed by Universal Insurance Plc (UNIVINSURE), which traded 213 million shares in 522 deals.
On the value index, Dangote Cement (DANGCEM), emerged as the top traded stock, gathering N7.2 billion in 894 deals, followed by Zenith Bank Plc (ZENITHBANK), which traded equities worth N2.1 billion in 1,075 deals.
MTN Nigeria (MTNN), traded shares valued at N1.9 billion in 1, 578 deals.