39 stocks gain as equities take a breather despite heavy activity in financial stocks…..
The Nigerian Exchange Limited ended Friday’s session slightly lower, trimming N20 billion from its market capitalisation as investors took a pause after two consecutive days of strong gains.
Market capitalisation closed at N163.66 trillion, down from N163.68 trillion recorded at the previous session, while the All-Share Index eased 0.015 per cent to 252,113.41 points from 252,150.01 points.
Trading activity also moderated, with investors exchanging 708.81 million shares in 42,434 deals. This represented a 27.54 per cent decline in volume from the 978.21 million shares traded on Thursday, while the number of deals fell 12.43 per cent from 48,459.
Despite the decline in the headline indices, the broader market remained positive, with 39 stocks advancing against 27 that closed lower.
Zichis Agro Allied Industries Plc topped the gainers’ chart after its share price climbed 10 per cent to N17.60 from N16.
Critical Minerals Financing Corp Plc followed closely, rising 9.76 per cent to N3.26, while R.T. Briscoe (Nigeria) Plc advanced 9.74 per cent to N10.70.
ABC Transport Plc gained 9.68 per cent to N5.10, while Royal Exchange Plc rounded out the top five with a 9.09 per cent increase to N1.08.
The strongest declines came from TotalEnergies Marketing Nigeria Plc, which fell 10 per cent to N518.40.
Legend Internet Plc dropped 9.09 per cent to N3.50, while Haldane McCall Plc declined 8.54 per cent to N3.
Caverton Offshore Support Group Plc lost 8.05 per cent to close at N4, while First Holdco Plc shed 5.09 per cent to N156.60.
Financial stocks drive trading
Financial services remained the most actively traded part of the market, accounting for more than 486 million shares across the Main and Premium Boards.
Financial stocks on the Main Board accounted for 356.40 million shares in 10,276 deals, while the Premium Board recorded 115.91 million shares across 7,151 deals.
Fidelity Bank Plc was the most actively traded stock, with 212.77 million shares changing hands. Access Holdings Plc followed with 72.60 million shares.
United Bank for Africa recorded 23.14 million shares, while Jaiz Bank, Zenith Bank and Guaranty Trust Holding Company accounted for 14.20 million, 14.07 million and 12.22 million shares respectively.
The increased activity did not translate into a sector-wide gain, however, as the NGX Banking Index fell 0.69 per cent to 2,721.83 points.
Transcorp dominates conglomerates
Activity in the conglomerates segment was led by Transnational Corporation Plc, which accounted for 65.74 million of the sector’s 69.29 million shares traded in 674 deals.
The ICT sector recorded 45.46 million shares, with Chams Holding Company Plc responsible for 33.27 million shares. Legend Internet Plc recorded 4.95 million shares, while MTN Nigeria Communications Plc traded 4.36 million shares.
MTN Nigeria gained 0.94 per cent to close at N863.
Oil and gas stocks recorded 24.39 million shares across the Main and Premium Boards. Japaul Gold & Ventures Plc led the sector with 16.13 million shares and gained 2.32 per cent to N2.65.
Aradel Holdings Plc traded 3.45 million shares at N1,530, while Seplat Energy Plc recorded 1.57 million shares at N16,000.10.
The NGX Oil/Gas Index slipped 0.13 per cent to 6,243.84 points.
Consumer, industrial stocks mixed
Trading in consumer goods stocks produced 10.95 million shares across 3,711 deals, led by International Breweries Plc with 4.92 million shares. The stock rose 2.02 per cent to N10.10.
Dangote Sugar Refinery Plc recorded 1.52 million shares, while the NGX Consumer Goods Index closed at 4,094.36 points.
Industrial goods stocks accounted for 14.68 million shares, with HBM Nigeria Plc leading activity at 7.24 million shares, followed by Cutix Plc with 3.76 million.
Cutix gained 3.36 per cent to N2.46, while the NGX Industrial Index edged up 0.04 per cent to 10,467.63 points.
The services sector recorded 24.01 million shares across the Main and Growth Boards, helped by gains in R.T. Briscoe and ABC Transport.
Agriculture stocks recorded 13.67 million shares, with Zichis Agro Allied Industries emerging as the session’s strongest performer.
Market gives up little ground after two-day rally
Friday’s decline came after the equities market posted a N622 billion increase in market capitalisation on Thursday.
That rally followed another milestone on Wednesday, when total market capitalisation crossed the N163 trillion threshold for the first time.
Friday’s modest retreat therefore did little to alter the broader picture of active trading, with gainers continuing to outnumber decliners and participation spread across several sectors of the market.
