Nigeria’s equities market ended the previous trading week on a bearish note, shedding approximately ₦210 billion in market value as investors took profits from Aradel Holdings and other listed companies.
The market’s total capitalisation declined by about ₦206 billion week-on-week to ₦160.52 trillion, while the Nigerian Exchange Limited All-Share Index fell by 0.97 per cent to close at 247,222.27 points. The market’s year-to-date return consequently moderated to 58.87 per cent.
Investor sentiment remained subdued, with 55 stocks recording losses against only 20 gainers, indicating that selling pressure outweighed buying interest across the exchange.
ABC Transport led the gainers, appreciating by 20.7 per cent to close at ₦7.30 per share. AVA Capital Partners followed with a 17.7 per cent increase to ₦7.30, while Caverton Offshore Support Group advanced by 17.1 per cent to ₦4.80.
On the losing side, Omatek Ventures declined by 12.5 per cent to ₦1.40 per share. University Press fell by 12.1 per cent to ₦4.35, while Regency Alliance Insurance shed 11.3 per cent to close at 71 kobo.
Despite the market’s decline, trading activity increased during the week. Investors exchanged approximately 2.024 billion shares valued at ₦110.773 billion in 173,113 deals, compared with 1.659 billion shares worth ₦98.088 billion in 184,632 deals in the preceding week.
The financial services sector dominated trading by volume, accounting for 1.111 billion shares valued at ₦53.908 billion. This represented 54.89 per cent of total traded volume and 48.66 per cent of transaction value.
The consumer goods sector followed with 394.039 million shares worth ₦9.811 billion, while the agriculture sector recorded 147.170 million shares valued at ₦2.821 billion.
Market analysts expect corporate earnings announcements, share valuations, dividend prospects and broader investor confidence to influence trading in the coming sessions.
While continued price corrections could attract bargain hunters looking for fundamentally strong companies, analysts caution that a sustained recovery will depend on renewed demand and improved investor sentiment.
