By Dipo Olowookere
Trading activities on the floor of the Nigerian Exchange (NGX) Limited waned on Friday amid sustained selling pressure triggered by cautious trading.
The local bourse fell by 0.02 per cent yesterday on the back of profit-taking, weakening the All-Share Index (ASI) by 16.39 points to 98,152.91 points from the previous day’s 98,169.30 points, and the market capitalisation decreased by N9 billion to N55.512 trillion from N55.521 trillion.
Business Post reports that investors transacted 265.1 million shares worth N5.0 billion in 6,582 deals compared with the 297.2 million shares worth N6.5 billion traded a day earlier in 7,417 deals, representing a decline in the trading volume, value, and the number of deals by 10.80 per cent, 23.08 per cent, and 11.26 per cent, respectively.
It was observed that the energy and industrial goods sectors remained unchanged when trading activities finished for the day, though the banking space appreciated by 0.52 per cent, while the insurance index and the consumer goods index depreciated by 0.53 per cent and 0.35 per cent, respectively.
Investor sentiment was slightly weak on Friday after the bourse closed with 19 depreciating equities and 18 appreciating equities, indicating a negative market breadth index.
The heaviest price loser was Sovereign Trust Insurance, which declined by 10.00 per cent to 36 Kobo, Regency Alliance depleted by 9.76 per cent to 37 Kobo, Unity Bank plunged by 7.65 per cent to N1.69, Japaul slumped by 6.83 per cent to N1.91, and Wema Bank shed 6.72 per cent to N6.25.
On the flip side, FBN Holdings closed the day as the biggest price gainer after it grew its price by 10.00 per cent to N20.35, NGX Group also rose by 10.00 per cent to N23.10, as Stanbic IBTC expanded its value by 10.00 per cent to N49.50. Livestock Feeds improved by 9.93 per cent to N1.66, and Vitafoam Nigeria inflated its price by 9.91 per cent to N18.85.