Equities Investors Lose N539bn as Nigerian Stock Market Declines
NGX
Samuel Mobolaji
Investors in the Nigerian stock market suffered a loss of N539 billion last week as the benchmark index declined by 0.95 per cent to 97,520.54 points, reducing market capitalization to N56.039 trillion.
Sectoral performance was mixed, with the NGX Oil & Gas and NGX Insurance indices leading the gains with 7.29 per cent and 3.81 per cent increases, respectively.
The NGX Consumer Goods index also rose by 0.34 per cent. Conversely, the NGX Industrial Goods and NGX Banking indices fell by 6.84 per cent and 0.74 per cent.
Market breadth remained positive, with 45 stocks appreciating, 33 declining, and 73 unchanged. Deap Capital Management & Trust topped the gainers’ chart with a 31.53 per cent increase to N1.46 per share, followed by Seplat Energy’s 21 per cent gain to N4,964.70.
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On the losers’ side, McNichols led with a 15.63 per cent decline to N1.35, followed by Fidelity Bank’s 13.33 per cent drop to N13.00.
Total turnover for the week stood at 2.872 billion shares worth N132.811 billion in 39,867 deals, down from the previous week’s 3.318 billion shares valued at N45.911 billion.
The Consumer Goods Industry dominated trading activity, accounting for 46.68 per cent and 79.89 per cent of total equity turnover volume and value. Guinness Nigeria, United Bank for Africa, and Japaul Gold & Ventures were the most traded stocks.
The benchmark index’s decline was largely offset by gains in key sectors, indicating resilience in the market. Investors remain cautious, seeking opportunities in sectors with strong growth potential.
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