The Nigerian Exchange (NGX) experienced a decline of N83 billion last week, with both the All-Share Index (ASI) and market capitalisation falling by 0.15%. The ASI ended the week at 96,433.53 points, and the market capitalisation closed at N55.39 trillion.
Despite the overall downward trend, the NGX Oil and Gas Index saw a 1.52% increase.
Trading activity for the week involved 2.14 billion shares valued at N51.22 billion across 55,603 deals, a decrease from the previous week’s 2.82 billion shares worth N53.048 billion traded in 50,488 deals.
The financial services sector led in trading volume with 1.23 billion shares valued at N19.98 billion, accounting for 57.40% of total equity turnover volume and 39% of total value. The oil and gas sector followed, trading 262.484 million shares worth N18 billion, while the service sector came in third with 155.587 million shares valued at N532.94 million.
The top three equities by volume—Access Holdings Plc, Oando Plc, and Zenith Bank Plc—accounted for 517.336 million shares worth N24.45 billion, contributing 24.16% of total equity turnover volume and 47.75% of total value.
Daily trading showed fluctuations: Monday saw 498.119 million shares worth N11.037 billion, Tuesday had 473.004 million shares valued at N10.411 billion, Wednesday recorded 389.232 million shares worth N8.180 billion, Thursday saw a slight rebound with 388.617 million shares valued at N9.565 billion, and Friday ended stronger with 392.509 million shares worth N12.024 billion.
For the week, 36 equities appreciated, down from 46 the previous week, while 46 stocks declined, up from 26 the prior week. University Press Plc announced a price adjustment following its dividend declaration, with its last close price at N2.51 per share and a declared dividend of N0.025 per share.
Afrinvest’s market review highlighted that the local bourse retreated from the previous week’s gains due to sell-offs on major stocks, with the ASI declining by 15 basis points (bps) to 96,433.53 points. Market capitalisation also dropped by 15 bps (N83.8 billion) to N55.4 trillion, and year-to-date returns decreased to 29.0% from 29.2%. Average volume and value traded weakened by 24.1% and 3.5% to 428.3 million units and N10.2 billion, respectively.
