The Nigerian Exchange concluded the trading week with a mixed performance as investors demonstrated significant activity across key sectors, resulting in a higher market close despite some indices showing depreciation. Market participants focused their attention primarily on Financial Services, Services, and ICT stocks, driving substantial trading volumes throughout the week.
Weekly Trading Volume and Value Analysis
A comprehensive review of market data reveals that investors traded a total of 3.087 billion shares valued at N81.505 billion across 222,185 deals during the week. This represents a decrease from the previous week's trading volume of 3.748 billion shares worth N99.865 billion exchanged in 237,179 deals. The reduction in both volume and value indicates a more cautious trading environment, though activity remained robust across multiple sectors.
Sector Performance and Market Leadership
The Financial Services Industry dominated trading activity, leading the market with 1.495 billion shares worth N33.923 billion traded in 83,939 deals. This sector contributed significantly to the overall market movement, accounting for 48.45% of total equity turnover volume and 41.62% of total value. Following closely, the Services Industry recorded 443.222 million shares valued at N4.936 billion in 17,615 deals, while the ICT Industry showed strong performance with 279.520 million shares worth N6.443 billion traded in 24,552 deals.
Top Performing Equities and Market Indicators
Trading in the three most active equities—Veritas Kapital Assurance Plc, Cutix Plc, and Secure Electronic Technology Plc—accounted for 513.382 million shares worth N1.139 billion in 4,895 deals. This represented 16.63% of total turnover by volume and 1.40% by value, highlighting concentrated investor interest in these specific stocks.
The NGX All-Share Index (ASI) experienced a slight depreciation of 0.09%, while market capitalization appreciated by 0.18%, closing the week at 165,370.40 points and N106.153 trillion respectively. Most indices finished higher, with notable exceptions including NGX 30, NGX CG, NGX Premium, NGX Banking, NGX Pension, NGX Growth, and NGX Pension Broad indices, which depreciated by varying percentages ranging from 0.13% to 1.13%.
Market Breadth and Equity Performance
Market breadth showed forty-four equities appreciating in price during the week, a decrease from fifty-eight equities in the previous week. Conversely, forty-nine equities depreciated in price, an increase from forty equities in the prior week, while fifty-five equities remained unchanged compared to fifty recorded previously. This indicates a shift in market sentiment with more equities experiencing price declines than in the previous trading period.
Top Price Gainers and Decliners
The week's trading saw significant movement among individual stocks, with banks and insurers dominating trading activity as investors repositioned their portfolios. The top ten price gainers included:
- Zichis Agro Allied Industries Plc: +59.92%
- Omatek Ventures Plc: +49.25%
- UH Real Estate Investment Trust: +32.94%
- Morison Industries Plc: +32.85%
- S.C.O. Nig. Plc: +32.77%
- Abbey Mortgage Bank Plc: +32.39%
- DEAP Capital Management & Trust Plc: +31.51%
- R.T. Briscoe Plc: +31.44%
- Skyway Aviation Handling Company Plc: +28.66%
- Veritas Kapital Assurance Plc: +25.00%
On the opposite end of the spectrum, the top ten price decliners for the week were:
- Neimeth International Pharmaceuticals Plc: -26.04%
- LivingTrust Mortgage Bank Plc: -21.36%
- May & Baker Nigeria Plc: -19.54%
- Livestock Feeds Plc: -13.70%
- Austin Laz & Company Plc: -13.14%
- Champion Brew Plc: -10.00%
- Ikeja Hotel Plc: -9.92%
- Union Dicon Salt Plc: -9.79%
- Industrial & Medical Gases Nigeria Plc: -9.61%
- Royal Exchange Plc: -9.17%
The mixed performance across sectors and individual stocks reflects the dynamic nature of the Nigerian stock market, with investors carefully navigating opportunities while managing risks in an evolving economic landscape.
