AfriPulse
February 27, (THEWILL) — The Nigerian equities market closed Friday’s trading session on a negative note, as declines in heavyweight stocks outweighed gains recorded across several mid- and small-cap counters.
Friday’s trading session opened with the market capitalization at 124.238 trillion naira and closed at 123.763 trillion naira.
Meanwhile, the All-Share Index opened at 193,567.81 and closed at 192,826.78, reflecting continued downward pressure on the benchmark index.
Despite the overall decline, market breadth recorded a positive outing with 39 gainers against 25 losers, which is a notable improvement compared to the 38 losers recorded in the previous session.
This shift indicates sustained buying interest in selective counters even as the broader index weakened.
The list of top gainers was led by Sovrenins, which climbed 9.95 percent from 2.01 naira to 2.21 naira, followed closely by RT Briscoe with a 9.93 percent increase from 11.38 naira to 12.51 naira.
NGX Group saw its price rise 9.78 percent from 112.95 naira to 124.00 naira, while Ellah Lakes and Omatek both advanced 9.70 percent to close at 13.00 naira and 2.60 naira respectively.
On the other side of the ledger, Mecure led the losers with a 9.97 percent dip from 84.25 naira to 75.85 naira. Meyer followed with a 9.90 percent decline from 20.70 naira to 18.65 naira, and Daar Communications shed 9.83 percent to close at 2.11 naira.
Champion Breweries fell 6.49 percent to close at 18.00 naira, while the heavyweight Dangote Cement dipped 6.09 percent from 829.50 naira to 779.00 naira.
Several stocks maintained their positions and closed the day flat, including Ava Infrastructure Fund, Julius Berger, DN Tyre and Rubber, Golden Guinea Brew, International Breweries Plc, and Guinness Nigeria Plc. Although the index trended lower, the positive market breadth signals underlying resilience and selective accumulation across mid-cap counters.
However, the continued weakness in large-cap stocks may sustain short-term volatility, and investor sentiment is likely to remain cautious as participants reposition their portfolios ahead of the new trading week.
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Source: TheWillNigeria | Read the Full Story…
