The Nigerian Exchange (NGX) Limited lost 0.06 percent on Friday due to selling pressure on some blue-chip stocks on the bourse.
The decline was observed to be primarily driven by the poor performance of financial and industrial goods shares during the trading session.
According to data obtained by EntrepreneurNG, the insurance sector fell 1.01 percent, the industrial goods sector fell 0.66 percent, the banking sector fell 0.25 percent, and the consumer goods category fell 0.21 percent, while the energy index remained flat.
As a result, the All-Share Index (ASI) fell by 31.55 points to 54,892.53 points, down from 54,924.08 points, and market capitalization fell by N18 billion to N29.903 trillion, down from N29.921 trillion.
On the final trading session of the week, 137.6 million shares worth N3.9 billion were traded in 2,912 deals, up from 117.9 million shares worth N1.4 billion traded in 2,575 deals the previous session, representing an increase in trading volume, value, and a number of deals of 16.71%, 178.57%, and 13.09%, respectively.
Fidelity Bank was the most traded equity at the end of the session, selling 21.5 million units, followed by GTCO, which sold 14.9 million units. Neimeth traded 14.0 million shares, UBA 12.8 million shares, and Transcorp 8.9 million stocks.
Yesterday, investor sentiment was slightly higher as market breadth was positive, with 13 price gainers and 11 price losers, led by AIICO Insurance, which fell 5.00% to 57 Kobo.
Linkage Assurance fell 4.76 percent to 40 Kobo, Coronation Insurance fell 4.76 percent to 40 Kobo, International Breweries fell 2.25 percent to N4.35, and Transcorp fell 2.19 percent to N1.34.
NPF Microfinance increased by 6.94% to N1.85, Geregu Power increased by 6.25 % to N323.00, Lasaco Assurance increased by 5.00% to N1.05, Chams increased by 4.17 % to 25 Kobo, and Japaul increased by 3.57 % to 29 Kobo.
According to market data, losses reported by BUA Cement (1.60%), Nigerian Breweries (0.55%), GTCO (0.25%), and Zenith Bank (0.15%) contributed to the exchange’s downfall on Friday.
