Nigerian equity market closes flat at N163.66 trillion as Zichis Agro, R.T. Briscoe rally

The Nigerian equity market closed flat on Friday, with the overall market capitalization decreasing by N20 billion to N163.66 trillion. A total of 708.81 million shares were traded across 42,434 deals. Although the NGX All-Share Index (ASI) fell 0.015% to 252,113.41 points from 252,150.01 points, market breadth remained positive, as 39 stocks gained while 27 declined.

Zichis Agro Allied Industries Plc led the gains with a 10% increase to N17.60 from N16.00, followed by Critical Minerals Financing Corp Plc and R.T. Briscoe (Nigeria) Plc, both advancing by 9.76% and 9.74% respectively. The financial services sector, which accounted for more than 486 million shares traded, was the primary driver of market activity.

The NGX Banking Index declined 0.69% to 2,721.83 points. The conglomerates sector saw 69.29 million shares traded in 674 deals, with Transnational Corporation Plc (Transcorp) leading the way. Agriculture stocks also contributed significantly, with Zichis Agro Allied Industries emerging as the market's top gainer. Despite Friday's slight pullback, trading remained broad-based, with more stocks gaining than declining, indicating continued active participation from investors across various sectors.