Nigerian stocks have stalled due to a sell-off in bank stocks

                    Nigerian stocks have stalled due to a sell-off in bank stocks

Nigerian stocks fell 0.18 percent on Friday, concluding a week marked by a mixed bag of results with a 57 percent increase in transaction volume over the previous day.

Traders dumped large amounts of shares in Zenith, GTCO, UBA, and Seplat for sale, outnumbering the number of investors prepared to buy, causing the stock to fall.

Market breadth, on the other hand, was positive, with 19 gainers versus 16 losers. The remaining 74 stocks in Monday's trading session showed no movement.

The all-share index fell 84.04 points to 47,202.30, while the market capitalization fell to N25.4 trillion. The index is up 10.5 percent year to date. GAINERS IN THE TOP FIVE Guinness was the top gainer, rising 10% to settle at N60.50. NCR rose 10% to N3.30 at the close of trading. SCOA is now trading at N1.78, up 9.88%. RT Briscoe climbed to N0.39, gaining 8.33% in the process. Lasaco rounded out the top five, climbing 5.66 percent to N1.12.

The index is up 10.5 percent year to date.

Top 5 gainers:

Guinness was the top gainer, rising 10% to settle at N60.50. NCR rose 10% to N3.30 at the close of trading. SCOA is now trading at N1.78, up 9.88%. RT Briscoe climbed to N0.39, gaining 8.33% in the process. Lasaco rounded out the top five, climbing 5.66 percent to N1.12.

Top 5 losers:

Pharma Deko was the biggest loser, falling 8.84 percent to settle at N1.65. NEM fell 6.48 percent to N3.32 at the close of trading. Champion dropped to N2.11, losing 5.80% of its value. Cutix lost 4.94 percent of its value, falling to N2.31. International Breweries ended the day at N5.20, down 4.59 percent.

Top 5 trades

In 4,916 transactions, a total of 311.5 million shares worth N4.4 billion were traded.

The most active stock was Access Bank, which traded 30.8 million shares for N322.4 million in 258 transactions. In 34 trades, Sovereign Trust's 30.8 million shares, valued at N7.1 million, changed hands. In 290 transactions, NGX Group had 28.7 million shares worth N773.2 million traded. In 157 trades, Fidelity traded 23.8 million shares worth N69.8 million. In 58 transactions, Chams traded 22.2 million shares worth N4.9 million.