Also, the market capitalisation dropped by N52 billion to close at N28.681 trillion as against N28.733 trillion posted at the previous trading.The All-share Index depreciated by 95.08 points or 0.18 per cent to close at 52,657.88 points from 52,752.96 recorded on Thursday.The market breadth closed positive with 24 gainers and seven losers.
Analysts at Vetiva Securities Ltd. said, “As expected, there was negative reaction to Guinness latest numbers, where Profit After Tax declined by 54 per cent in its H1’23 period. “Hence, the 3.71 per cent decline in the stock’s share price. However, we did see investors buy up Tier-1 banks – Zenith and GTCO, while cross trades done at lower price levels in MTNN dampened market sentiment.
“We expect to see improvement in market performance at the start of the week, amid a positive market breadth.”International Breweries followed with 6.12 per cent to close at N4.60, while Glaxo Smith kline dropped by 4.41 per cent to close at N6.50, per share.