The Nigerian Exchange closed Friday’s trading session with market breadth slightly negative as 34 stocks declined against 33 gainers, while a large number of equities closed unchanged.
Despite the near-even breadth, investor activity remained robust, with approximately 2.04 billion shares traded across the market, valued at about ₦34.9 billion in over 42,000 deals.
Trading activity was heavily concentrated in Fortis Global Insurance, which dominated volume with more than 1.45 billion shares changing hands. Major banking names also attracted significant investor interest, including UBA, Zenith Bank, GTCO, Access Holdings and Fidelity Bank.
On the gainers' chart, Abbey Mortgage Bank and Royal Exchange both hit the maximum 10% daily gain, while Nigerian Breweries surged nearly 10%. Other notable performers included John Holt, DAAR Communications, Ellah Lakes and Champion Breweries, pointing to strong buying interest across financial services, consumer goods and agriculture stocks.
However, selling pressure was evident among several stocks, with Red Star Express and Haldane McCall recording the maximum 10% decline. Industrial & Medical Gases, Juli, University Press and Sovereign Trust Insurance also posted notable losses.
The session reflects a selective market rather than a broad-based rally. Strong turnover in financial stocks and sharp gains in selected consumer and agriculture names suggest investors are actively rotating capital into specific opportunities. However, the almost equal number of gainers and losers indicates that sentiment remains cautious.
For investors, the key signal is clear: liquidity remains strong, but stock selection is increasingly important as the market shows diverging performance across sectors.
