The Nigerian Exchange Limited (NGX) ended the week with a significant loss, shedding N439 billion in market capitalization as bearish sentiment gripped investors. The All-Share Index fell 0.50% to 140,295.50 points from 141,002.76, while market capitalization dropped 0.49% to N88.769 trillion from N89.208 trillion, reflecting a challenging week for equities.
Trading activity declined, with 3.199 billion shares worth N85.399 billion exchanged in 142,477 deals, down from 4.773 billion shares valued at N107.426 billion in 152,965 deals the prior week. The financial services sector led, contributing 68.61% of turnover volume and 49.99% of value, with 2.195 billion shares traded for N42.689 billion in 66,808 deals. The consumer goods sector followed with 277.881 million shares worth N9.910 billion, while the services sector traded 178.992 million shares valued at N1.308 billion.
FCMB Group Plc, Champion Breweries Plc, and Access Holdings Plc dominated trading, accounting for 778.603 million shares worth N13.155 billion, representing 24.34% of volume and 15.40% of value. In the Exchange Traded Products segment, 202,506 units worth N23.784 million were traded, a decrease from 396,920 units the previous week. Bonds saw 80,523 units worth N74.045 million traded, up from 58,537 units.
The market saw 32 equities gain value, down from 43, while 57 declined, up from 54, and 57 remained unchanged. McNichols Plc led gainers with an 18.75% rise to N3.80, followed by NEM Insurance Plc (17.29% to N31.20) and Berger Paints Plc (15.31% to N36.90). Other notable gainers included Coronation Insurance Plc (12.77% to N3.62) and Learn Africa Plc (11.43% to N7.80). Conversely, Secure Electronic Technology Plc topped losers, dropping 22.73% to N0.85, followed by Guinea Insurance Plc (19.77% to N1.42) and Lasaco Assurance Plc (13.29% to N3.00).
Despite a 39.98% year-to-date NGX gain and a 67.12% surge in capital importation to $5.64 billion in Q1 2025, naira volatility (N1,560/$1) and 21.88% inflation in July signal ongoing economic pressures impacting investor sentiment.
