NGX Market Value Gains ₦189bn as Index Closes Higher at 245,574

The market capitalisation rose to ₦158.513 trillion from the previous week’s level, reflecting a modest recovery in equities despite increased selling pressure across several sectors.

Trading activity, however, weakened in value terms during the week, with investors exchanging 5.359 billion shares worth ₦139.053 billion in 261,869 deals.

This compares with 5.119 billion shares valued at ₦404.762 billion traded in 285,223 deals in the previous week. While trading volume increased by 4.7 per cent, the value of transactions declined significantly, indicating a lower average value of trades during the week.

The Financial Services Industry remained the dominant force on the exchange, accounting for 3.469 billion shares worth ₦73.013 billion in 117,509 deals. The sector contributed 64.73 per cent of total equity turnover volume and 52.51 per cent of turnover value.

The Oil and Gas Industry followed with 1.023 billion shares valued at ₦18.900 billion traded in 17,680 deals, while the ICT Industry ranked third with 232.368 million shares worth ₦14.624 billion exchanged in 31,866 deals.

Three equities, Japaul Gold & Ventures Plc, Fortis Global Insurance Plc and FCMB Group Plc, accounted for 2.562 billion shares worth ₦14.173 billion in 6,645 deals. Their combined activity represented 47.80 per cent of total equity turnover volume and 10.19 per cent of turnover value.

Despite the positive movement in the benchmark index, market breadth remained weak. Only 26 equities appreciated during the week, compared with 33 in the preceding week, while 63 equities declined, up from 56 previously. Fifty-eight equities remained unchanged.

The divergence between the benchmark index and market breadth highlights the uneven nature of the week’s rally, with gains in selected large or actively traded stocks supporting the overall index despite broader declines across the market.

The banking segment was among the strongest performers, with the NGX Banking Index gaining 2.33 per cent during the week. The NGX Premium Index rose 1.60 per cent, while the NGX Consumer Goods Index gained 1.97 per cent.

The NGX 30 Index also advanced by 0.27 per cent, while the NGX Pension Index rose 0.73 per cent.

However, several sectors recorded losses. The NGX Insurance Index declined 3.31 per cent, the NGX Growth Index fell 2.14 per cent, while the Consumer Goods Index declined 1.75 per cent. The Main Board Index also dropped 0.83 per cent.

At the individual stock level, Ava Capital Plc emerged as the week’s biggest gainer, rising 33.33 per cent from ₦8.25 to ₦11.00 per share. FCMB Group Plc gained 13.10 per cent, while First HoldCo Plc advanced 12.23 per cent.

Fortis Global Insurance Plc rose 11.11 per cent, Linkage Assurance Plc gained 10.63 per cent, while Caverton Offshore Support Group Plc and Eterna Plc each appreciated by 10 per cent.

On the decliners’ table, Thomas Wyatt Nigeria Plc recorded the biggest loss, falling 26.71 per cent from ₦4.38 to ₦3.21 per share. Trans-Nationwide Express Plc declined 23.76 per cent, while Critical Minerals Financing Corp Plc lost 22.68 per cent.

Ecobank Transnational Incorporated also fell sharply by 18.94 per cent, while Consolidated Hallmark Holdings Plc declined 16.51 per cent.

The Market at a Glance

Sector Indices

NGX Banking Index: +2.33%

NGX Premium Index: +1.60%

NGX Consumer Goods Index: +1.97%

NGX 30 Index: +0.27%

NGX Pension Index: +0.73%

 Conversely, several sectors recorded losses:

NGX Insurance Index: -3.31%

NGX Growth Index: -2.14%

NGX Consumer Goods Index: -1.75%

NGX Main Board Index: -0.83%

Top Gainers and Decliners

Biggest Gainer:

Ava Capital Plc, up 33.33% from ₦8.25 to ₦11.00 per share

FCMB Group Plc: +13.10%

First HoldCo Plc: +12.23%

Fortis Global Insurance Plc: +11.11%

Linkage Assurance Plc: +10.63%

Caverton Offshore Support Group Plc & Eterna Plc: +10% each

On the downside:

Biggest Loser: 

Thomas Wyatt Nigeria Plc, down 26.71% from ₦4.38 to ₦3.21 per share

Trans-Nationwide Express Plc: -23.76%

Critical Minerals Financing Corp Plc: -22.68%

Ecobank Transnational Incorporated: -18.94%

Consolidated Hallmark Holdings Plc: -16.51%