The Nigerian Exchange Limited (NGX) All-Share Index slipped 0.09% last week, closing at 165,370.40 points. Despite the slight drop in the index, overall market capitalization rose 0.18% to N106.153 trillion, reflecting continued investor confidence in select sectors.
While most market indices showed positive momentum, several key benchmarks recorded declines. The NGX 30, Consumer Goods, Premium, Banking, Pension, Growth, and NGX Pension Broad indices fell by 0.13%, 0.63%, 0.75%, 0.63%, 0.41%, 1.13%, and 0.22% respectively, indicating a mixed trading sentiment among investors.
Trading activity slowed compared to the previous week, with investors exchanging 3.087 billion shares worth N81.505 billion across 222,185 deals, down from 3.748 billion shares valued at N99.865 billion in 237,179 deals. The Financial Services Industry led turnover, contributing nearly half of total trading volume and over 41% of turnover value, followed by the Services and ICT sectors.
Top performers by volume included Veritas Kapital Assurance Plc, Cutix Plc, and Secure Electronic Technology Plc, which collectively accounted for 16.63% of total market volume. On the bonds and fixed-income front, trading also saw growth, with 2.62 million units worth N784.23 million changing hands, highlighting sustained investor interest beyond equities.
Market dynamics were further influenced by new share listings. Guaranty Trust Holding Company Plc raised its total shares to 36.55 billion through a private placement, while Presco Plc increased its issued shares to 1.167 billion following its rights issue. Meanwhile, 44 equities gained, 49 declined, and 55 remained unchanged, showing a moderately active week for investors navigating a cautious market.
source: punch