The Nigerian equity market experienced a notable dip last week, shedding N185 billion as the All-Share Index declined by 0.33% to 97,506.87, while the Market Capitalisation fell by 0.31% to close at N59.11 trillion.
Investors traded a total of 3.194 billion shares valued at N54.850 billion in 45,112 deals on the floor of the Nigerian Exchange, reflecting a vibrant yet challenging week for the market.
Key Sector Performances
The Financial Services Industry dominated trading activities, accounting for 47.25% of the total equity turnover volume and 49.05% of the value. This sector recorded 1.509 billion shares traded in 20,357 deals, worth N26.904 billion.
The Construction/Real Estate sector followed, contributing 839.945 million shares valued at N4.806 billion in 1,399 deals. The Oil and Gas sector ranked third, trading 256.445 million shares worth N13.307 billion in 6,313 deals.
Top equities, including Haldane McCall Plc, FBN Holdings Plc, and Japaul Gold and Ventures Plc, collectively accounted for 1.587 billion shares valued at N19.797 billion in 3,632 deals, representing 49.69% of the total volume and 36.09% of the value.
Winners and Losers
Among the 32 gainers last week, SUNU Assurances Nigeria Plc led with a 23.42% increase, closing at N3.90 from an opening price of N3.16. Haldane McCall Plc and Sovereign Trust Insurance Plc also recorded gains, with Haldane McCall rising from N5.10 to N6.20 and Sovereign Trust Insurance closing at N0.73.
On the other hand, Austin Laz & Company Plc suffered the steepest decline, dropping 26.32% from N2.66 to N1.96. John Holt Plc lost 18.91%, closing at N8.92, while Lasaco Assurance Plc fell by 16.47%, closing at N2.13.
Other Market Activities
A total of 20,749 units worth N5.281 million were traded across 85 deals last week. Additionally, 46 equities depreciated, while 75 remained unchanged, showcasing a mixed market performance.
Market Gains on Thursday
Despite the week’s overall decline, the market recorded a recovery on Thursday, with the Nigerian Stock Exchange gaining N306 billion, pushing the market capitalization to N59.3 trillion.
This performance highlights the resilience and volatility of the Nigerian equity market, offering insights for African MSMEs seeking opportunities or monitoring market trends for informed decision-making.
