The Nigerian Exchange Ltd. (NGX) extended its bearish run on Friday as investors lost N939 billion amid sustained profit-taking in banking and industrial stocks, marking the sixth consecutive day of decline.
Market capitalisation fell by 0.62 per cent to N151.327 trillion, down from N152.266 trillion recorded in the previous session. The All-Share Index also dropped by 1,463.65 points to close at 235,941.27. The downturn weakened the market’s year-to-date return to 51.62 per cent, while market breadth closed negative with 31 losers and 21 gainers. Nigerian Aviation Handling Company and Royal Exchange led the losers’ chart, both declining by 10 per cent. GTCO, First Holdco and Neimeth Pharmaceuticals also recorded notable losses.
On the gainers’ side, Deap Capital Management, RT Briscoe and International Energy Insurance posted strong gains, alongside Jaiz Bank and Livingtrust Mortgage Bank. Trading activity slowed significantly, with total volume down by 36.33 per cent to 440.36 million shares valued at N24.68 billion across 50,273 deals.
Access Corporation led in trading volume, while MTN Nigeria dominated in value, recording transactions worth N4.64 billion.
