The sell-off in Tier-one banking stocks caused the performance indexes to drop by 0.09 percent, ending the four-day rally in the Nigerian equities market.
In contrast to Thursday’s closing value of N39.649 trillion, the market capitalization finished at N39.612 trillion on Friday, down N37 billion, or 0.09 percent.
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In addition, the All-Share Index closed at 72,389.23 basis points, down from 72,455.83 recorded in the previous session, a decrease of 66.6 points, or 0.09 percent.
A number of bank equities, including United Bank for Africa (UBA), Access Holdings, and First Bank of Nigeria Holdings (FBNH), were sold off, which contributed to the decline.
Zenith Bank led in value with 91.24 billion, while Guaranty Trust Holding (GTCo) topped the activity table with 51.10 billion in transactions.
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But with a gain of 9.93% to conclude at N16.05 per share, Cadbury dominated the gainers’ table. Northern Nigeria Flour Mills (NNFM) came in second with a 9.93% gain to close at N38.78 per share.
Infinity gained 9.73 percent at N2.82, Johnholt increased by 9.85 percent to settle at N0.26 per share, and UPDC Real Estate Investment Trust (UPDCREIT) increased by 9.64 percent at N4.55.
In percentage terms, Universal Insurance headed the losers list, closing at N0.26 per share, followed by Livestock, which ended at N1.71 per share, and FBNH, which closed at N22.20 per share, with a 5.9% percentage lead.
Oando lost 3.24% to close at N10.45, while FTNCOCOA lost 3.31% to close at N1.46.
