Nigerian stocks halt advance amid bank shares sell-off


Nigerian stocks dipped 0.18 per cent on Friday, capping a week with a mixed bag of performances with a 57 per cent improvement in trade volume, compared with that of the previous session.

Traders dumped hefty volumes of shares in Zenith, GTCO, UBA and Seplat for sale, which outweighed the quantity that investors were willing to buy, triggering the slide.

However, market breadth was positive, with 19 gainers recorded compared to against 16 losers. The rest 74 stocks participating in Monday trading session reported no movement.

The all-share index eased by 84.04 points to 47,202.30 points, while market capitalisation dropped to N25.4 trillion.

Year to date, the index is up 10.5 per cent.


Guinness led gainers, appreciating by 10 per cent to close at N60.50. NCR added 10 per cent to end trade at N3.30. SCOA advanced 9.88 per cent to N1.78. RT Briscoe rose to N0.39, notching up 8.33 per cent in the process. Lasaco completed the top 5, climbing up by 5.66 per cent to N1.12.


Pharma Deko topped losers, depreciating by 8.84 per cent to close at N1.65. NEM shed 6.48 per cent to end trade at N3.32. Champion fell to N2.11, losing 5.80 per cent. Cutix slumped to N2.31, recording 4.94 per cent depreciation. International Breweries closed at N5.20, going down by 4.59 per cent.


A total of 311.5 million shares valued at N4.4 billion were traded in 4,916 deals.

Access Bank was the most active stock, trading 30.8 million shares worth N322.4 million traded in 258 deals. Sovereign Trust’s 30.8 million shares priced at N7.1 million exchanged hands in 34 transactions. NGX Group had 28.7 million shares valued at N773.2 million traded in 290 deals. Fidelity traded 23.8 million shares estimated at N69.8 million in 157 transactions. Chams traded 22.2 million shares valued at N4.9 million in 58 deals.

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