Nigerian stocks extended their bear run on Friday, going down by 0.08 per cent, as investors continued to show more interest in selling their equities than owning them long term.
Sell pressure on stocks like Seplat, GTB, Mansard and UCAP weighed on market performance more than it was on other laggards.
A negative market breadth was reported as there were 27 losers against 20 gainers at the end of trade.
The oil and gas index took the heaviest battering of the five sectorial indices, declining by 5.31 per cent to 259.65 points as oil driller Seplat reported a single-day depreciation of as much as N803.072 million. This followed the firm’s abysmal 2020 financial performance that resulted in a N28.9 billion loss, compared to the N89.9 billion recorded in the same period of 209.
The benchmark index shrank to 39,331.61 points. Market capitalisation closed at N20.578 trillion.
Year to date, the index is down by 2.33 per cent.
TOP FIVE GAINERS
Morison led the gainers’ chart, appreciating by 10 per cent to close at N0.66. WAPCO went up by 9.90 per cent to N22.20. NEM rose to N1.89, notching up 9.88 per cent in the process. SAHCO added 9.54 per cent to end today’s trade at N3.33. Unity Bank completed the top 5, climbing by 8.96 per cent to N0.73.
TOP FIVE LOSERS
Tripple Gee was the worst performing stock, declining by 10 per cent to close at N0.72. Trans -Nationwide Express shed 10 per cent to close at N0.81. Union Home REIT fell to N36.60, losing 9.96 per cent. Cutix slumped to N1.81, recording 9.95 per cent depreciation. SCOA closed at N2.64, going down by 9.90 per cent.
ALSO READ: Nigerian stocks deepen loss on profit-taking in WAPCO, MTN, Zenith
TOP FIVE TRADES
In all, 587.742 million shares estimated at N13.615 billion were traded today in 4,895 deals.
Mansard was the most active stock for with 282.323 million units of its stocks worth N282.425 million traded in 117 deals. 46.851 million units of Zenith shares priced at N1.177…
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