The Nigerian equity market experienced a decline of N185bn last week as the All-Share Index dropped by 0.33%, closing at 97,506.87, while the Market Capitalisation fell by 0.31% to N59.11tn. A total of 3.194 billion shares worth N54.850bn were traded in 45,112 deals. The Financial Services Industry led trading activities, contributing nearly half of the total turnover in both volume and value. Other key contributors were the Construction/Real Estate and Oil and Gas Industries.
Top equities traded included Haldane McCall Plc, FBN Holdings Plc, and Japaul Gold and Ventures Plc, collectively accounting for almost half of the week’s trading volume and over a third of its value. Market performance was mixed, with 32 equities appreciating, 46 depreciating, and 75 remaining unchanged. Notable gainers included SUNU Assurances Nigeria Plc, while significant losers included Austin Laz & Company Plc and John Holt Plc.
Despite the weekly dip, the market saw a brief rebound on Thursday, with a gain of N306bn in market capitalisation. The diverse sectoral activity and shifts in equity values highlight ongoing volatility in the Nigerian stock market.
