Investors on the Nigerian Exchange (NGX) endured a turbulent week as the benchmark All-Share Index (ASI) dropped 2.51 per cent, closing at 141,004.14 points. Market capitalisation fell alongside, shedding N2.29tn to settle at N89.209tn.
Trading activity also slowed sharply, with turnover declining to 4.77 billion shares worth N107.43bn across 152,965 deals. This represented a steep drop from the previous week’s 8.56 billion shares valued at N99.94bn in 177,870 deals.
The Financial Services Industry dominated activity, accounting for 78.24 per cent of total volume and 56.44 per cent of total value, with 3.73 billion shares worth N60.63bn exchanged in 72,977 deals. The Consumer Goods Industry followed with 370.40 million shares worth N14.03bn, while the Services Industry recorded 176.29 million shares worth N1.28bn.
Three equities—Universal Insurance Plc, Zenith Bank Plc and FCMB Group Plc—topped the volume chart, jointly contributing 25.16 per cent of total turnover with 1.20 billion shares valued at N29.43bn in 10,537 deals.
In the bond market, turnover rose as 396,920 units worth N39.03m were traded in 365 deals, compared with 216,055 units worth N27.03m in 352 deals a week earlier.
Performance across indices was largely negative. All sectoral indices closed lower except the NGX Consumer Goods Index, which gained 0.83 per cent, and the NGX Growth Index, which advanced 4.14 per cent. The NGX ASeM and NGX Commodity indices ended flat.
Market breadth weakened as 43 stocks gained, down from 50 in the prior week, while 45 stocks lost value, compared with 49 previously. Meanwhile, 49 equities closed flat, slightly higher than the 47 recorded a week earlier.
Top gainers included:
- Austin Laz & Company Plc (+20.83% to N2.90)
- NCR (Nigeria) Plc (+20.69% to N10.50)
- Nigerian Enamelware Plc (+19.45% to N39.00)
- Guinea Insurance Plc (+18.79% to N1.77)
- Mutual Benefits Assurance Plc (+14.29% to N4.40)
Others such as Caverton Offshore, Multiverse Mining, Daar Communications, and Champion Breweries also posted double-digit gains.
Major losers were led by Thomas Wyatt Nig. Plc (-18.92% to N3.00), Nem Insurance Plc (-18.15% to N26.60), and Stanbic IBTC Holdings Plc (-15.39% to N94.00). Other notable declines came from Lasaco Assurance, R.T. Briscoe, Veritas Kapital, Royal Exchange, and Cutix Plc.
Looking ahead, analysts at Afrinvest forecast a mixed market performance with a bearish bias in the coming week. They attribute this to continued profit-taking on blue-chip stocks, investors’ portfolio adjustments amid interim dividend declarations, and the absence of strong positive triggers.
