Trading activities on the Nigerian Exchange Ltd.(NGX) on Friday turned bearish as bargain hunting in Seplat and 15 others drove the performance with a loss of N77 billion.
In summary, the market capitalisation lost N77 billion, to close at N30.249 trillion from N30.326 trillion at the trading session on Thursday.
Also, the All-Share Index (ASI) dipped by 141.03 points, representing a decrease of 0.25 per cent to close at 55,529.21 as against 55,670.24 recorded on Thursday.
Consequently, the year-to-date stood at 8.35 per cent.
Market sentiment, as measured by market breadth, was positive as 17 stocks gained, relative to 16 losers.
Academy Press recorded the highest price gain of 9.48 per cent to close at N1.27, while Neimeth International Pharma followed with a gain 8.97 per cent to close at N1.58 per share.
Honeywell Flour Mills rose by 7.83 per cent to close at N2.34 per share.
Also, Flour Mills Nigeria inched up with 4.69 per cent to close at N33.50 per share, while Sovereign Trust Insurance appreciated by 3.70 per cent to close at 28k per share.
On the other hand, Seplat led the losers’ chart by 9.43 per cent, to close at N1,200 per share.
Oando followed with a decline of 8.62 per cent to close at N4.56, while WAPIC Insurance declined by 6.82 per cent to close at 41k, per share.
Unity Bank shed 5.26 per cent to close at 54k per share, while First City Monument Bank (FCMB) depreciated by 4.02 per cent to close at N4.30 per share.
However, the total volume of trades declined by 11 per cent to 184.24 million units, valued at N2.54 billion and exchanged in 3,962 deals.
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