By Seun Ibiyemi
The Nigerian equities market closed on a bearish note on Thursday, declining by 0.41 per cent as investors lost N515 billion in market value, with Zenith Bank Plc emerging as the most traded stock by value.
Despite the overall downturn, Zenith Bank stood out in market activity, recording the highest value of traded shares at N4.06 billion, representing 12.89 per cent of the total value exchanged during the session.Seplat Energy Plc grows revenue by 144% to $2.73bn
The strong turnover underscores sustained investor interest in the tier-one banking stock amid widespread profit-taking across sectors.
At the close of trading, the market capitalisation dropped from N124.753 trillion to N124.238 trillion. Similarly, the All-Share Index fell by 802.39 points or 0.41 per cent to settle at 193,567.81, compared to 194,370.20 recorded on Wednesday.
The Year-To-Date (YTD) return consequently moderated to 24.39 per cent.NGX Chairman advocates listing of state-owned firms to boost capital market liquidity
The negative performance was largely driven by sell-offs in consumer goods, banking and insurance stocks. Jaiz Bank Plc led the losers’ chart with a 9.98 per cent decline to close at N12.63 per share. It was followed by Ikeja Hotel and John Holt, which fell by 9.90 per cent each.
Nigerian Enamelware and Cadbury also posted significant losses.
Market breadth closed negative with 38 losers against 30 gainers, reflecting weak investor sentiment.
On the flip side, FTN Cocoa Processors led the gainers with a 10 per cent appreciation, while RT Briscoe and Deap Capital Management recorded notable gains.
Trading activity weakened overall, as total volume declined by 36.01 per cent and total value dropped by 30.58 per cent.
Investors traded 868.5 million shares worth N31.5 billion in 69,310 deals, compared to 1.4 billion shares valued at N46.2 billion exchanged in 70,222 deals in the previous session.
Although the market closed lower, Zenith Bank’s dominant share of traded value highlights its continued liquidity strength and positioning as one of the most actively traded stocks on the Nigerian Exchange.
