Headlines
Nigerian equity market sustains downturn, dips 0.31%
The Nigerian equity market ended the week in the red as PZ and University Press led it to 0.31 per cent dip on Friday.
The All-Share Index (ASI) and Market Capitalization were down by 2.05 per cent and 2.06 per cent this week to close at 30,432.13 and N13.402 trillion respectively.
But on Friday, the ASI lost 94.88 points, representing 0.31 per cent decline as investors engaged in profit taking, while market capitalisation shed N42 billion, representing 0.31 per cent loss.
The Industrial sector appreciated marginally 0.02 per cent on as only 10 stocks gained with Cutix leading pack, adding 6.67 per cent.
On the other hand, 23 stocks were on the losing side as PZ brazed the trail, dipping -9.82 per cent.
Investors exchanged 305.56 billion shares worth N3.90 billion in 3,754 deals.
Commercial lenders drove the market’s volume with the United Bank for Africa emerging the most active stock as investors traded 91.68 million of its shares worth N565.89 million.
It was followed by Zenith Bank which traded 30.38 million shares valued at N614.36 million and GTBank exchanging 29.75 million shares valued at N907.78 million.
The Nigerian Stock Exchange has shed -3.18 per cent this year.
