Persistent bearish sentiment in the Nigerian equities market led to a N208 billion dip in market capitalisation on the Nigerian Exchange Group (NGX) during the just-concluded trading week, following a deeper N440 billion loss recorded the previous week.
The market opened for four trading days in the week, alternating between gains and losses over the sessions. In total, the market closed the week in the red, with the overall capitalisation dropping to N65.499 trillion, down from N65.707 trillion the week before.
The All-Share Index (ASI) also slipped by 0.32 per cent, ending the week at 104,233.81 points compared to the 104,563.34 points posted at the close of the prior week.
The week kicked off on a subdued note on Monday, 14 April 2025, with investors seeing a combined loss of N21.19 billion. However, sentiment briefly reversed on Tuesday, 15 April, when the market gained N19.11 billion.
Losses deepened mid-week on Wednesday, 16 April, as investors shed a staggering N444.99 billion. This downturn was partially offset on Thursday, 17 April, when the market rebounded with a gain of N240.00 billion.
Trading volume also saw a decline. Investors exchanged a total of 1.525 billion shares worth N43.00 billion in 51,156 deals, compared with 2.094 billion shares valued at N52.967 billion in 64,612 deals recorded the previous week.
The Financial Services sector continued to dominate activity by volume, accounting for 1.122 billion shares valued at N24.015 billion across 28,818 deals. This represented 73.56 per cent of total trading volume and 55.84 per cent of the week’s total turnover by value.
The ICT sector followed with 101.252 million shares traded, worth N4.819 billion in 2,541 deals. The Services industry took third position, with 99.776 million shares valued at N1.230 billion in 3,063 deals.
Among the top-traded equities by volume were Access Holdings Plc, Fidelity Bank Plc, and Universal Insurance Plc. Combined, they accounted for 448.105 million shares valued at N6.730 billion in 6,481 deals, contributing 29.39 per cent and 15.65 per cent to total turnover volume and value respectively.
Price movements were mixed. Thirty-one equities saw gains, an increase from the 27 recorded the previous week. Forty-four equities declined in value, a drop from 56 the week prior, while 72 remained unchanged, higher than the 64 reported in the preceding week.
Abbey Mortgage Bank Plc led the gainers, with its share price soaring by 46.17 per cent. Nigerian Breweries Plc followed, rising by 13.13 per cent, while Associated Bus Company Plc posted a 12.70 per cent increase.
On the losing end, Guaranty Trust Holding Company Plc suffered the steepest decline, with its share price falling by 13.24 per cent. Zenith Bank Plc trailed with an 11.91 per cent drop, and Daar Communications Plc slipped by 11.11 per cent.
Despite brief moments of recovery, the broader sentiment across the equities market remained cautious, with investors showing signs of hesitation amid ongoing market volatility.