Equities market takes a hit as investors lose N421bn in one week
By Seun Ibiyemi
The Nigerian equities market experienced a significant downturn in the just-concluded trading week, with investors collectively losing N421 billion on the trading floor of the Nigerian Exchange (NGX). This followed a previous week where the market recorded a gain of N196 billion.
During the week under review, the equities market posted gains on only two out of the five trading days, ultimately closing the week with an overall loss of N421 billion. As a result, market capitalisation declined from N67.614 trillion in the previous week to N67.193 trillion.
Similarly, the All-Share Index (ASI) depreciated by 0.62 per cent, ending the week at 107,821.39 points, down from 108,497.40 points recorded the previous week.
The Nigerian equities market commenced the week on a bearish note on Monday, 24 February 2025, as investors recorded a substantial loss of N230.85 billion at the close of the trading session.
The downward trend persisted on Tuesday, 25 February 2025, with an additional loss of N215.11 billion.
On Wednesday, 26 February 2025, the bulls staged a minor comeback as the market saw a modest gain of N10.72 billion.
However, the bears resumed control on Thursday, 27 February 2025, causing investors to lose N76.98 billion.
The market managed to end the week and the month on a positive note on Friday, 28 February 2025, as investors gained N90.95 billion.
A total turnover of 1.848 billion shares worth N51.387 billion was traded in 63,090 deals over the week. This marked a decline compared to the previous week’s total of 2.001 billion shares valued at N49.486 billion, which were exchanged in 70,853 deals.
The Financial Services Industry, measured by volume, dominated the activity chart with 1.296 billion shares valued at N26.914 billion traded in 29,140 deals. This represented 70.13 per cent and 52.38 per cent of the total equity turnover volume and value, respectively.
The Services Industry followed, with 129.443 million shares worth N719.218 million exchanged in 3,657 deals, while the Consumer Goods Industry ranked third, with 116.696 million shares valued at N4.185 billion traded in 7,452 deals.
Trading in the top three equities—Zenith Bank Plc, FCMB Group Plc, and Access Holdings Plc—accounted for 539.768 million shares worth N16.528 billion in 7,392 deals. This contributed 29.21 per cent and 32.16 per cent to the total equity turnover volume and value, respectively.
Twenty-seven (27) equities appreciated in price during the week, slightly lower than the twenty-eight (28) recorded in the previous week. Conversely, sixty (60) equities depreciated in price, exceeding the fifty-eight (58) recorded in the prior week. Meanwhile, sixty-three (63) equities remained unchanged, compared to sixty-four (64) in the previous week.
PZ Cussons Nigeria Plc recorded the highest percentage increase in share price, gaining 31.11 per cent. It was followed by Caverton Offshore Support Group Plc, which saw its share price increase by 22.92 per cent, while Livestock Feeds Plc gained 22.81 per cent.
On the downside, Sunu Assurances Nigeria Plc recorded the steepest decline in share price, shedding 19.55 per cent. Eunisell Interlinked Plc followed, with its share price dropping by 18.67 per cent, while Learn Africa Plc lost 16.46 per cent of its share price.
The market’s mixed performance highlights continued volatility, with investors navigating the shifting economic landscape in search of profitable opportunities.
