Business
THE equities market extended its bearish trend on Friday, shedding N1.226 trillion as investors recorded losses in major stocks.
Market capitalisation declined by 0.76 per cent to close at N160.443 trillion, compared with N161.669 trillion on Thursday.
Similarly, the All-Share Index dropped by 1,912.19 points, or 0.76 per cent, to close at 250,330.92 against 252,243.11 recorded previously.
Consequently, the year-to-date return moderated to 60.87 per cent.
The downturn was driven by losses in stocks including Zichis Agro Allied Industries, FTN Cocoa Processors Plc, The Initiates Plc, LivingTrust Mortgage Bank Plc and International Energy Insurance Plc.
The market breadth remained positive with 47 gainers and 28 losersb in spite of the negative performance
May & Baker Nigeria Plc and ABC Transport Plc led the gainers’ chart with 10 per cent each, closing at N47.30 and N6.27 per share, respectively.
Also, SCOA Nigeria Plc gained 9.98 per cent to close at N33.05, while Trans-Nationwide Express Plc rose by 9.97 per cent to N7.06 per share.
DAAR Communications Plc also appreciated by 9.76 per cent to close at N2.25 per share.
On the losers’ chart, Zichis Agro Allied Industries declined by 9.97 per cent to close at N29.43, while FTN Cocoa Processors lost 9.95 per cent to settle at N8.96 per share.
The Initiates Plc dropped by 9.90 per cent to close at N32.30, while LivingTrust Mortgage Bank shed 9.88 per cent to N3.83 per share.
International Energy Insurance also dipped by 9.71 per cent to close at N2.79 per share.
Meanwhile, market activity improved, with total traded volume rising by 4.28 per cent to 1.08 billion shares worth N44.29 billion exchanged in 65,744 deals.
CHAMS Holding Company Plc recorded the highest traded volume with 328.50 million shares, representing 30.30 per cent of total volume traded.
Aradel Holdings Plc posted the highest traded value at N9.44 billion, accounting for 21.32 per cent of total value traded. (NAN)
A.I
May 16, 2026
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