The Nigerian stock market declined, losing N476.0 billion in one week as investors traded 1.818 billion shares worth N47.226 billion across 64,222 deals.
This marks a slight drop from the previous week’s 1.848 billion shares valued at N51.387 billion in 63,090 deals.
Market capitalization declined by 0.71% to N66.717 trillion from the previous week, while the All-Share Index fell by 1.19% to 106,538.60 points, indicating a broad downturn across major indices.
The Financial Services Industry led the activity chart, trading 1.260 billion shares worth N27.817 billion in 29,800 deals, accounting for 69.31% of total volume and 58.90% of total value. The Consumer Goods Industry followed with 123.336 million shares valued at N3.069 billion in 7,793 deals, while the Services Industry recorded 118.931 million shares worth N832.602 million in 3,730 deals.
Zenith Bank Plc, Fidelity Bank Plc, and Access Holdings Plc were the most actively traded stocks, accounting for 451.558m shares worth N13.583bn in 10,055 deals. This represented 24.84 per cent of total turnover volume and 28.76 per cent of market value.
A total of 56,372 Exchange Traded Products worth N6.280 million were traded in 99 deals, up from 42,786 units valued at N16.133 million in 81 deals the previous week. Meanwhile, bond activity declined, with 73,802 units worth N75.768 million traded in 31 deals, compared to 346,089 units valued at N351.766 million in 34 deals a week earlier.
Market breadth showed a mixed performance, as 30 equities gained, up from 27 the previous week. However, 58 stocks declined, slightly lower than the 60 recorded earlier, while 62 remained unchanged, compared to 63 a week prior.
Despite the overall decline, the ASeM and Commodity indices gained 0.04% and 0.19%, respectively, while all other indices closed lower, indicating broad-based profit-taking and weak investor sentiment in the equities market.
