The equities market extended its bearish trend on Friday, shedding ₦1.226 trillion as investors recorded losses in major stocks.
Market capitalisation declined by 0.76 per cent to close at ₦160.443 trillion, down from ₦161.669 trillion on Thursday.
Similarly, the All-Share Index dropped by 1,912.19 points or 0.76 per cent to close at 250,330.92, compared with 252,243.11 the previous day.
Consequently, the year-to-date return moderated to 60.87 per cent.
The downturn was driven by losses in stocks such as Zichis Agro Allied Industries, FTN Cocoa Processors Plc, The Initiates Plc, LivingTrust Mortgage Bank Plc and International Energy Insurance Plc.
Despite the negative performance, market breadth remained positive with 47 gainers against 28 losers.
May & Baker Nigeria Plc and ABC Transport Plc led the gainers’ chart with 10 per cent each, closing at ₦47.30 and ₦6.27 per share, respectively.
SCOA Nigeria Plc gained 9.98 per cent to close at ₦33.05, while Trans-Nationwide Express Plc rose by 9.97 per cent to ₦7.06 per share. DAAR Communications Plc also appreciated by 9.76 per cent to close at ₦2.25 per share.
On the losers’ chart, Zichis Agro Allied Industries declined by 9.97 per cent to close at ₦29.43, while FTN Cocoa Processors lost 9.95 per cent to settle at ₦8.96 per share.
The Initiates Plc dropped by 9.90 per cent to close at ₦32.30, LivingTrust Mortgage Bank shed 9.88 per cent to ₦3.83 per share, and International Energy Insurance dipped by 9.71 per cent to close at ₦2.79 per share.
Meanwhile, market activity improved as total traded volume rose by 4.28 per cent to 1.08 billion shares worth ₦44.29 billion, exchanged in 65,744 deals.
CHAMS Holding Company Plc recorded the highest traded volume with 328.50 million shares, representing 30.30 per cent of total volume. Aradel Holdings Plc posted the highest traded value at ₦9.44 billion, accounting for 21.32 per cent of total value traded.
