The Nigerian equities market ended the week lower, with the NGX-ASI declining 0.16% to 242,619.20 points, extending its depreciation to four sessions and bringing the weekly decline to 1.20%.
At the close of the trading session today, data from the Nigerian Exchange Group (NGX) indicated that market capitalisation also fell 0.16% to N156.62 trillion, representing an estimated N257.06 billion decline in investors’ wealth.
Similarly, the market sentiment remained weak, with breadth at 0.70x as 21 stocks gained against 30 decliners, while the UD Volume Ratio fell sharply to 0.19x, reflecting that trading volume was heavily concentrated in declining stocks.
The data listed the gainers at the trading session as INTENEGINS, TRANSEXPR, GUINEAINS and JAPAULGOLD recorded the strongest gains, while FTGINSURE, JOHNHOLT, DANGSUGAR and RTBRISCOE led the losers’ chart.
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When analyzed on sectoral performance basis, the performance was negative, with the Insurance Index falling 1.49%, followed by the Oil & Gas Index (-0.63%), Consumer Goods Index (-0.46%) and Banking Index (-0.23%). On a weekly basis, the Consumer Goods Index was the weakest performer, declining 6.72% and emerging as the largest sectoral drag on the market’s performance.
The NGX further reported that trading activity remarkably moderated, as total volume declined 66.64% to 1.41 billion shares, while transaction value fell 10.41% to N45.31 billion and executed deals decreased 5.60% to 39,072.
Meanwhile, the data showed that Seplat Energy’s share price was adjusted for its N163.27 dividend, while an off-market transaction involving 42.90 million MTN Nigeria shares at N700 per share was transacted in a single deal during today’s trading session.
