Emmanuel Ochayi
Despite the broader market’s 0.27% decline on Friday, certain stocks stood out with gains. The NGX All-Share Index closed at 66,915.41 points, representing a slight dip from the previous day’s 67,098.81 points. Market capitalization mirrored this decline, closing at N36.76 trillion as N100.8 billion was shed by investors.
In terms of trading activity, it was subdued, with only 205.88 million units traded, compared to 298.69 million units the day before. However, the total value of trades increased to N6.38 billion in 4,986 deals, compared to N4.48 billion in 5,435 deals on the previous trading day.
Join our WhatsApp ChannelNotably, some stocks managed to defy the downward trend. Thomas Wyatt (THOMASWY), Ikeja Hotels (IKEJAHOTEL), and Omatek Ventures (OMATEK) emerged as the top gainers, posting impressive gains of +10.00%, +7.51%, and +7.14%, respectively. AIICO Insurance (AIICO) and Cutix Plc (CUTIX) also featured among the top gainers, with gains of +4.48% and +4.07%.
On the flip side, Cadbury Nigeria (CADBURY) led the list of losers with -10.00% drop. Flour Mill of Nigeria (FLOURMILL), Sovereign Trust Insurance (SOVRENINS), Geregu Power (GEREGU), and Unilever Nigeria (UNILEVER) joined the list of top five losers with losses ranging from -5.23% to -9.03%.
As for the most traded stocks by volume, Fidelity Bank (FIDELITYBK) took the lead with 28.13 million units, followed by FCMB (FCMB) and Zenith Bank (ZENITHBANK) with 18.03 million and 18.02 million units, respectively. Zenith Bank (ZENITHBANK) also claimed the top spot in terms of value traded, with N596.72 million, followed by UBA (UBA) with N254.22 million.
In the segment of stocks worth over one trillion, there were minimal changes, with BUACEM, BUAFOOD, AIRTELAFRI, MTNN, and DANGCEM showing no price change at the close of trading. However, GTCO and ZENITHBANK recorded slight declines of 0.56% and 0.30%.
Among tier-1 banks, the performance varied, with GTCO, FBNH, and ZENITHBANK witnessing share price declines, while UBA and ACCESSCORP saw increases in their share prices, rounding out a day of mixed fortunes in the financial sector.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
