NGX Loses ₦2.42tn as Market Capitalisation Falls to N148.9tn

The market capitalisation declined by 1.60 per cent to close at ₦148.905 trillion from ₦151.325 trillion recorded in the previous week, while the All Share Index (ASI) shed 1.65 per cent, or 3,892.25 basis points, to settle at 232,049.02 points.

Trading activity also weakened during the review period as investors traded 2.324 billion shares valued at ₦134.486 billion in 249,328 deals, compared with 3.075 billion shares worth ₦254.614 billion exchanged in 287,157 deals in the preceding week. This reflected declines of about 24 per cent in trading volume and 47 per cent in transaction value.

The Financial Services sector remained the most active on the exchange, accounting for 1.523 billion shares valued at ₦47.542 billion in 105,230 deals. The sector contributed 65.53 per cent of total trading volume and 35.35 per cent of market value.

The Information and Communication Technology sector ranked second with 198.821 million shares worth ₦32.622 billion, while the Consumer Goods sector followed with 151.635 million shares valued at ₦10.933 billion.

Access Holdings Plc, Fidelity Bank Plc and Chams Holding Company Plc emerged as the three most traded equities by volume, accounting for a combined 485.749 million shares worth ₦7.656 billion. The trio represented 20.90 per cent of the week’s trading volume and 5.69 per cent of total transaction value.

Sectoral performance was broadly negative. The NGX Oil and Gas Index recorded the steepest decline, dropping 9.86 per cent during the week, while the Industrial Goods Index fell 8.21 per cent and the Commodity Index declined 7.43 per cent.

However, the Banking Index bucked the bearish trend, rising 3.51 per cent. Other indices that closed higher included the NGX Consumer Goods Index, which gained 2.40 per cent, the NGX AFR Bank Value Index, up 3.28 per cent, the NGX AFR Dividend Yield Index, which advanced 9.93 per cent, and the NGX MERI Value Index, which added 0.56 per cent.

Market breadth remained negative as 57 equities declined in price against 22 gainers, while 67 stocks closed unchanged.

Among the week’s top performers, McNichols Plc led the gainers with a 26.47 per cent appreciation, followed by International Energy Insurance Plc, which rose 14.43 per cent. Guaranty Trust Holding Company Plc advanced 10.69 per cent, while First HoldCo Plc and Airtel Africa Plc each gained 10 per cent.

On the losers’ chart, Trans Nationwide Express Plc recorded the biggest decline of 26.79 per cent, followed by Deap Capital Management & Trust Plc, which fell 23.31 per cent. Abbey Mortgage Bank Plc lost 20.30 per cent, while Aradel Holdings Plc shed 19 per cent.