The Nigerian stock market recorded its first weekly negative performance last week, extending its losing streak as investor sentiment weakened amid intensified profit-taking.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) closed at 165,512.18 points, down from 166,129.50 points the previous week, representing a 0.37 per cent decline and reflecting cautious investor confidence. Market capitalisation fell by N395 billion, closing at N105.959 trillion from N106.354 trillion.
Sector Performance
Sector indices mirrored broader market trends:
- NGX Consumer Goods: down 2%
- NGX Banking: down 1.3%
- NGX Industrial Goods: down 0.1%
- NGX Insurance: down 0.1%
- NGX Oil & Gas: up 1.4%
Despite the overall decline, market breadth was moderately positive with 57 advancing stocks outnumbering 40 decliners. Notable gainers included:
- DEAP Capital Management & Trust: +60.09% to N7.14
- SCOA Nigeria: +59.73% to N23.80
- NCR Nigeria: +46.36% to N188.15
Key decliners were:
- Eterna: -11.92% to N28.45
- Secure Electronic Technology: -10.19% to 97 kobo
- Industrial & Medical Gases Nigeria: -9.95% to N34.85
Trading Activity
A total of 3.748 billion shares worth N99.865 billion changed hands in 237,179 deals last week, down from 4.607 billion shares valued at N130.636 billion in the previous week.
The Financial Services sector led activity with 1.742 billion shares worth N44.893 billion traded in 90,589 deals, accounting for 46.49% of volume and 44.95% of value. The Services and ICT sectors followed with 707.617 million and 303.216 million shares, respectively.
Top-traded equities included Secure Electronic Technology, Tantalizers, and Access Holdings, collectively accounting for 734.086 million shares worth N5.720 billion.
Market Outlook
Analysts predict that the Nigerian equities market is likely to remain range-bound in the near term as investors exercise caution amid ongoing profit-taking and soft trading activity.
Cowry Assets Management noted that despite the pullback, the market’s year-to-date return of 6.36% suggests downside risks may be contained for fundamentally strong, dividend-paying stocks.
Futureview Group advised investors to focus on stocks with solid fundamentals and attractive valuations, while Cordros Research highlighted potential choppiness due to the release of 2025 FY earnings, which may drive stock-specific volatility and selective repositioning.
