Key Takeaways:
- The NGX market cap fell by N167 billion.
- The All-Share Index dropped by 0.25%.
- Tantalizer and Jaiz Bank were among the biggest losers.
- Royal Exchange and Linkage Assurance saw gains.
- Champion Breweries shares were the most actively traded.
What Happened on Friday?
The stock market had a bad day, with key indicators showing a decline. The NGX market capitalization fell, meaning the total value of listed companies decreased. The All-Share Index, which tracks the performance of the market, also went down.
The Numbers Don’t Lie
Specifically, the Nigerian Exchange Ltd. (NGX) market capitalization fell by N167 billion or 0.25 percent to N66.351 trillion from N66.518 trillion recorded on Thursday. Also, the All-Share Index dropped by 0.25 percent or 265.81 points to close at 105,955.13 against 106,220.94 posted the previous day.
Who Were the Biggest Losers?
Some companies got seriously whacked! Tantalizer, the fast-food joint, saw its stock price decline by almost 10%! Jaiz Bank also took a hit. Other notable losers included Neimeth International Pharmaceutical and Dangote Sugar.
- Tantalizer: -9.85%
- Jaiz Bank: -9.72%
- Neimeth International Pharmaceutical: -9.45%
- Dangote Sugar: -7.76%
- Lasaco Assurance: -5.96%
Any Good News? Some Companies Actually Gained!
It wasn’t all doom and gloom! Some companies managed to buck the trend and saw their share prices increase. Royal Exchange and Linkage Assurance were among the top gainers.
- Royal Exchange: +10%
- Linkage Assurance: +9.57%
- Guinea Insurance: +9.52%
- Nigerian Enamelware: +9.05%
- Red Star Express: +8.41%
Champion Breweries Dominated Trading
When it comes to trading volume, Champion Breweries stole the show. Millions of their shares changed hands, making them the most actively traded stock on Friday.
Why Does This Matter?
Even if you’re not a stock market guru, these fluctuations can affect you. A dip in the market can impact pension funds, investments, and the overall economy. Plus, it’s always good to know what’s happening with big Nigerian companies.
What’s Next?
Will the market recover? Only time will tell. Keep an eye on the news and consult with a financial advisor if you have any concerns about your investments.
Additional Info
The Nigerian stock market is regulated by the Securities and Exchange Commission (SEC). The NGX is the primary stock exchange in Nigeria, providing a platform for companies to raise capital and for investors to trade securities. Market fluctuations can be influenced by various factors, including economic conditions, political events, and global market trends.