NGX Falls 0.97% as Market Cap Drops to N161.260trn, 54 Stocks Decline

The Nigerian Exchange closed the week lower, with the All-Share Index down 0.97% to 248,363.55 points and market capitalisation settling at N161.260 trillion. The pullback wiped about N1.58 trillion off the value of listed equities.

Market breadth weakened sharply. Only 24 equities recorded price appreciation, down from 44 in the previous week. Fifty-four equities declined, compared with 37 previously, while 68 closed unchanged, up from 65.

Trading volume and value

Investors traded 2.715 billion shares valued at N158.280 billion in 209,986 deals during the week. That compares with 3.166 billion shares worth N155.023 billion exchanged in 206,662 deals in the preceding week.

The financial services industry led by volume, with 2.005 billion shares valued at N82.924 billion traded in 94,483 deals. The sector accounted for 73.84% of total equity turnover by volume and 52.39% by value.

The consumer goods industry followed with 152.345 million shares worth N11.425 billion in 20,926 deals. The ICT industry ranked third, recording 117.296 million shares valued at N15.256 billion in 22,556 deals.

Trading in Access Holdings Plc, Zenith Bank Plc and United Bank for Africa Plc, the three most active equities by volume, accounted for 1.020 billion shares worth N50.520 billion in 29,382 deals. That represented 37.56% of total equity turnover by volume and 31.92% by value.

Sectoral performance

Most sectoral indices closed lower. The NGX Industrial Goods Index was the only gainer, rising 0.02%.

Gainers

Livestock Feeds Plc led the gainers, up 47.75% from N8.90 to N13.15 per share. Tripple Gee and Company Plc rose 32.62% from N2.33 to N3.09, while Guinea Insurance Plc gained 29.17% from N0.72 to N0.93.

Learn Africa Plc climbed 19.61% from N7.65 to N9.15. Multi-Trex Integrated Foods Plc rose 16.67% from N0.36 to N0.42, and UPDC Real Estate Investment Trust gained 16.22% from N20.65 to N24.00.

Regency Alliance Insurance Plc added 10.00% to close at N0.77 from N0.70, matching E-Tranzact International Plc, which rose 10.00% from N11.00 to N12.10. Chemical and Allied Products Plc gained 8.50% from N100.00 to N108.50, and UPDC Plc rose 6.33% from N3.95 to N4.20.

Decliners

Critical Minerals Financing Corporation Plc led the losers, falling 20.27% from N4.49 to N3.58. ABC Transport Plc dropped 18.24% from N7.40 to N6.05, and Japaul Gold and Ventures Plc declined 11.11% from N2.88 to N2.56.

Fidelity Bank Plc shed 10.64% from N23.50 to N21.00. Aradel Holdings Plc lost 10.00% from N1,530.00 to N1,377.00, while Red Star Express Plc fell 9.76% from N14.85 to N13.40.

Thomas Wyatt Nigeria Plc slipped 9.74% from N2.67 to N2.41. Eterna Plc dropped 9.09% from N44.00 to N40.00, VFD Group Plc declined 8.89% from N13.50 to N12.30, and CWG Plc closed 8.67% lower at N18.95 from N20.75.

The week's performance leaves investors nursing a N1.58 trillion loss, with decliners outpacing gainers by more than two to one and banking stocks such as Fidelity Bank among the heaviest fallers.