The Nigerian stock market closed lower last week as the Nigerian Exchange Limited (NGX) All-Share Index declined by 0.52 percent amid reduced trading activity during the four-day trading week.
The market opened for four sessions following the Federal Government’s declaration of Thursday, October 1, as a public holiday to commemorate Nigeria’s Independence Day.
The NGX All-Share Index declined by 1,305.14 points from 252,113.41 points the previous week to 250,808.27 points, representing a weekly loss of 0.52 percent.
Equity market capitalisation also fell 0.50 percent to N162.843 trillion, indicating the weaker performance of the broader equities market.
Investors traded 3.166 billion shares worth N155.023 billion in 206,662 deals during the week, compared with 4.689 billion shares valued at N240.824 billion in 261,198 deals in the preceding week.
This represents a 32.5 percent decline in trading volume, while transaction value dropped by approximately 35.6 percent. The number of deals also declined by about 20.9 percent.
Financial services remained the dominant sector, accounting for 1.944 billion shares worth N77.733 billion across 92,035 deals.
The sector contributed 61.41 percent of total equity turnover volume and 50.14 percent of total transaction value.
The investment industry followed with 409.484 million shares valued at N5.40 billion in 1,444 deals, while the ICT industry recorded 231.705 million shares worth N9.606 billion across 24,133 transactions.
Fidelity Bank, VFD Group and Access Holdings emerged as the three most actively traded equities by volume. Together, the stocks accounted for 1.343 billion shares valued at N27.58 billion in 15,771 deals, representing 42.42 percent of total equity volume and 17.79 percent of total trading value.
Market breadth weakened during the week as 44 equities appreciated, compared with 61 in the preceding week, while 37 stocks declined, up from 32 previously. Another 65 equities closed unchanged.
ABC Transport Leads Weekly Gainers
ABC Transport emerged as the best-performing stock, appreciating 45.10 percent during the week from N5.10 to N7.40.
Critical Minerals Financing Corporation followed with a 37.73 percent increase from N3.26 to N4.49, while LivingTrust Mortgage Bank advanced 32.69 percent from N2.60 to N3.45.
VFD Group gained 18.42 percent to close at N13.50, while CWG appreciated 15.28 percent to N20.75.
Haldane McCall rose 13.67 percent to N3.41, University Press gained 13.19 percent to N5.15, John Holt appreciated 12.90 percent to N8.75, Eterna rose 12.82 percent to N44, while UPDC Real Estate Investment Trust completed the top ten with a 10.13 percent increase to N20.65.
Sovereign Trust Insurance Leads Decliners
Sovereign Trust Insurance recorded the biggest weekly decline, falling 12.50 percent from N2.40 to N2.10.
E-Tranzact International declined 12 percent to N11, while Learn Africa dropped 11.05 percent to N7.65.
PZ Cussons Nigeria lost 10.03 percent to N66.40, Fortis Global Insurance declined 9.50 percent to N1.81 and Thomas Wyatt Nigeria fell 9.49 percent to N2.67.
Nigerian Exchange Group declined 8.86 percent from N185 to N168.60, FTN Cocoa Processors shed 8.08 percent, Chams Holding Company lost 7.18 percent and Cutix declined 6.91 percent.
Sector performance was predominantly negative. The NGX Banking Index declined 1.33 percent, the Consumer Goods Index fell 0.91 percent and the Industrial Goods Index lost 0.26 percent.
However, the NGX Insurance Index gained 0.61 percent, the Oil & Gas Index edged up 0.05 percent and the Growth Index advanced 1.85 percent. The Main Board Index also gained 0.08 percent.
Despite the shorter trading week and lower turnover, selected equities recorded substantial gains, led by ABC Transport, CMFC and LivingTrust Mortgage Bank, even as weakness in several large sectors pushed the broader NGX benchmark lower.