Onome Amuge
The Nigerian equities market concluded a five-week winning streak with a N713 billion loss in the past trading week, as the market capitalisation fell to N91.502 trillion from the previous week’s high of N92.215 trillion. The reversal was also reflected in the All-Share Index (ASI), which depreciated by 0.77 per cent to close the week at 144,628.20 points.
The week began on a positive note, with investors gaining N79.61 billion on Monday and another N110.78 billion on Tuesday. However, the trend reversed sharply on Wednesday, as the market shed N120.93 billion, followed by a N357.33 billion loss on Thursday. The week concluded with a negative close on Friday, with a loss of N425.05 billion for investors.
Despite the overall market decline, trading activity remained healthy, with a total turnover of 8.564 billion shares valued at N99.936 billion traded in 177,870 deals. This activity, while slightly lower than the previous week’s volume and value, reflects continued investor engagement.
The Financial Services Industry dominated the activity chart, contributing 80.75 per cent of the total equity turnover volume and 56.75 per cent of the total value. 6.916 billion shares, worth N56.716 billion, were traded in the sector. This was followed by the Oil & Gas Industry, which recorded 387.647 million shares worth N8.502 billion, and the Agriculture Industry, with 315.540 million shares worth N6.019 billion.
Trading in three key equities including Universal Insurance Plc, Linkage Assurance Plc, and AIICO Insurance Plc, accounted for a significant portion of the week’s volume, with 2.787 billion shares worth N6.622 billion changing hands in 11,067 deals.
The week’s mixed performance was also evident in the individual share movements. Fifty equities appreciated in price, a decline from the sixty-six that gained in the previous week. Conversely, forty-nine equities saw their prices depreciate, up from forty-one the week before. Another forty-seven equities remained unchanged.
Among the top gainers, Mutual Benefits Assurance Plc recorded the biggest share price increase by percentage, gaining 31.85 per cent. Tripple Gee And Company Plc followed with a 30.23 per cent increase, and Sunu Assurances Nigeria Plc also saw a strong gain of 23.80 per cent.
On the other end of the spectrum, UPDC Plc recorded the biggest decline, shedding 17.72 per cent of its share price. Livingtrust Mortgage Bank Plc fell by 16.00 per cent, and Berger Paints Plc saw a decline of 14.67 per cent, as investors engaged in profit-taking after the recent rally.
