The Nigerian Exchange (NGX) closed the week lower as the All-Share Index declined by 1.21% to 229,240.34 points, while market capitalisation dropped to N147.103 trillion. Despite the dip in share prices, trading activity increased compared to the prior week, with investors trading 3.821 billion shares in 258,567 deals valued at N154.393 billion, up from 2.324 billion shares in 249,328 deals valued at N134.486 billion the previous week.
Financial Services Dominate Trading Activity
The financial services sector led the activity chart by volume and value, accounting for 60.99% of total equity turnover by volume and 35.37% by value. Investors traded 2.330 billion shares worth N54.606 billion in 108,978 deals within the sector. Services and consumer goods followed, recording 509.473 million and 216.344 million shares worth N16.353 billion and N8.057 billion respectively.
Top Traded Stocks and Market Sentiment
Sterling Financial Holdings, Access Holdings, and Ikeja Hotel dominated investors' attention, with 1.405 billion shares valued at N28.370 billion transacted, representing 36.78% of total volume and 18.37% of total value. Market sentiment remained bearish, as the number of advancers held steady at 22, while decliners increased by 33.17% to 57, and stagnant stocks rose by 46.15% to 67 compared to the prior week.
Top Gainers and Losers
Airtel Africa Plc led the gainers with a 21% rally, rising from N4,358.80 to N5,274.00. Other top gainers included Regency Assurance Plc (up 20.25% to N0.95), UPDC Plc (up 12.31% to N3.65), DAAR Communications Plc (up 7.84% to N1.65), and Sunu Assurances Nigeria Plc (up 7.50% to N3.87). On the losing side, International Energy Insurance Plc fell 18.83% to N4.70, McNichols Plc dropped 18.60% to N7.00, University Press Plc declined 17.54% to N4.70, R.T. Briscoe Plc shed 13.98% to N10.15, and UPDC Real Estate Investment Trust lost 13.00% to N8.70. Other notable decliners included Universal Insurance Plc (down 12.87%), Guinea Insurance Plc (down 12.62%), NEM Insurance Plc (down 12.07%), Honeywell Flour Mill Plc (down 11.67%), and The Initiates Plc (down 10.86%).
