The Nigerian Exchange (NGX) closed the trading week with a decline, as the All-Share Index dropped by 0.97% to settle at 248,363.55 points, while market capitalisation fell to N161.260 trillion. The downturn came amid mixed performance across listed equities, with investors trading 2.715 billion shares valued at N158.280 billion in 209,986 deals during the week, according to data from the NGX.
Financial Services Sector Dominates Weekly Trading Activity
The financial services industry led trading activity by volume, with 2.005 billion shares valued at N82.924 billion exchanged in 94,483 deals. This sector accounted for 73.84% of total equity turnover by volume and 52.39% by value, reflecting sustained investor interest in banking and insurance stocks.
The consumer goods industry followed, recording 152.345 million shares worth N11.425 billion in 20,926 deals, while the ICT industry ranked third with 117.296 million shares valued at N15.256 billion traded in 22,556 deals. These three sectors together accounted for the bulk of market activity during the week.
Top Traded Equities and Market Breadth
Trading in the three most actively traded equities by volume—Access Holdings Plc, Zenith Bank Plc and United Bank for Africa Plc—accounted for 1.020 billion shares worth N50.520 billion in 29,382 deals. This represented 37.56% of total equity turnover by volume and 31.92% by value, highlighting the dominance of major banking stocks in market transactions.
Market breadth weakened during the week, as 24 equities recorded price appreciation, down from 44 in the previous week. Meanwhile, 54 equities declined, compared with 37 previously, while 68 equities closed unchanged, up from 65 in the preceding week. This shift indicates a broader sell-off across the market, with decliners outpacing gainers by a significant margin.
Top Gainers and Decliners on the NGX
Among the top gainers, Livestock Feeds Plc led the chart, rising by 47.75% from N8.90 to N13.15 per share. Tripple Gee and Company Plc followed with a 32.62% increase from N2.33 to N3.09, while Guinea Insurance Plc gained 29.17% from N0.72 to N0.93. Other notable gainers included Learn Africa Plc (up 19.61% to N9.15), Multi-Trex Integrated Foods Plc (up 16.67% to N0.42), and UPDC Real Estate Investment Trust (up 16.22% to N24.00).
On the downside, Critical Minerals Financing Corporation Plc led the decliners, falling by 20.27% from N4.49 to N3.58 per share. ABC Transport Plc dropped 18.24% to N6.05, while Japaul Gold and Ventures Plc declined 11.11% to N2.56. Other significant decliners included Fidelity Bank Plc (down 10.64% to N21.00), Aradel Holdings Plc (down 10.00% to N1,377.00), and Red Star Express Plc (down 9.76% to N13.40).
Sectoral Indices and Market Outlook
Most sectoral indices closed lower during the week, with the NGX Industrial Goods Index recording the only gain, rising by 0.02%. This marginal increase provided little offset to the overall market decline, as other indices reflected the negative sentiment across the exchange.
The weekly turnover of 2.715 billion shares compared with 3.166 billion shares worth N155.023 billion exchanged in 206,662 deals in the previous week, indicating a slight reduction in trading volume but an increase in total value. This suggests that while fewer shares were traded, higher-priced stocks contributed to a larger overall value, reflecting mixed investor activity across different segments of the market.
