The Nigerian Exchange experienced a loss of N83 billion in the past week, with both the All-Share Index and market capitalization decreasing by 0.15 per cent due to significant sell-offs in prominent stocks.
Closing the week at 96,433.53 points, the ASI saw the market capitalization settle at N55.39 trillion. Despite the overall downward trend, the NGX Oil and Gas Index managed to stand out by gaining 1.52 per cent.
Throughout the week, investors engaged in trading 2.14 billion shares valued at N51.22 billion across 55,603 deals, marking a decrease from the previous week’s trading volume of 2.82 billion shares worth N53.048 billion traded in 50,488 deals.
The financial services sector led the activity, with 1.23 billion shares valued at N19.98 billion, accounting for 57.40 per cent of the total equity turnover volume and 39 per cent of the value. Following closely was the oil and gas industry, trading 262.484 million shares worth N18 billion in 14,275 deals, with the service industry ranking third with a turnover of 155.587 million shares valued at N532.94 million in 3,558 deals.
Access Holdings Plc, Oando Plc, and Zenith Bank Plc were the top three equities in terms of volume, collectively accounting for 517.336 million shares worth N24.45 billion traded in 15,502 deals, contributing 24.16 per cent of the total equity turnover volume and 47.75 per cent of the value.
Daily trading volumes and values fluctuated throughout the week, with Monday recording 498.119 million shares worth N11.037 billion in 13,149 deals. By Tuesday, the volume decreased to 473.004 million shares valued at N10.411 billion in 12,532 deals. The decline continued into Wednesday, with 389.232 million shares worth N8.180 billion traded in 12,039 deals. Thursday saw a slight rebound with 388.617 million shares exchanged for N9.565 billion across 9,897 deals, and the week ended on a stronger note on Friday with 392.509 million shares valued at N12.024 billion in 7,986 deals.
Last week, 36 equities appreciated, 46 stocks declined, and 69 equities remained unchanged. Notable gainers included Industrial & Medical Gases Nigeria Plc, Berger Paints Plc, and E-Tranzact International Plc, while RT Briscoe Plc and FTN Cocoa Processors Plc were among the top losers.
University Press Plc made a price adjustment following its dividend declaration, with a closure date of September 5. The company’s last closing price was N2.51 per share, and it declared a dividend of N0.025 per share.
Despite some gains during the week, the local bourse retreated from positive territory due to sell-offs in major stocks. The NGX All-Share Index declined by 15 basis points to 96,433.53 points, with market capitalization dropping by 15 basis points to N55.4 trillion. Year-to-date return decreased to 29.0 per cent, down from 29.2 per cent, while average volume and value traded also weakened.