The Nigerian Exchange Ltd (NGX) recently announced the suspension of eight companies for failing to comply with regulations. This news comes as market activity showed a significant decline, with stock market investors trading 1.525 billion shares worth N43.006 billion in 51,156 transactions this week. This is a notable decrease compared to the previous week, which saw 2.094 billion shares valued at N52.967 billion exchanged in 64,612 deals. As a result, transaction value dropped by 23.15%, with investors losing a total of N9.961 billion.
This week’s trading was affected by public holidays declared by the Federal Government to mark the 2025 Easter celebrations, which led to the market operating for only four days. Despite this, top stocks like Access Holdings Plc, Fidelity Bank Plc, and Universal Insurance Plc dominated trading, accounting for 448.105 million shares worth N6.730 billion in 6,481 transactions. This contributed to 29.39% of the total equity turnover volume and 15.65% of its value.
The Financial Services sector led the market, with 1.122 billion shares valued at N24.015 billion traded in 28,818 deals. This sector represented 73.56% of the total volume and 55.84% of the total value. Following behind was the ICT sector, with 101.252 million shares worth N4.819 billion traded in 2,541 transactions. The Services Industry rounded out the top three with a turnover of 99.776 million shares valued at N1.230 billion in 3,063 deals.
In terms of market performance, the NGX All-Share Index and market capitalization saw a decline of 0.32%, closing at 104,233.81 and N65.499 trillion, respectively. While most other indices also finished lower, several indices, including NGX Premium, NGX Pension, NGX MERI Growth, and NGX Oil & Gas, showed growth, appreciating by between 0.16% and 2.67%.
Despite a general market downturn, 31 equities saw price increases, compared to 27 last week. Forty-four equities experienced a decline, a decrease from the 56 seen the previous week. Meanwhile, 72 equities remained unchanged, up from 64 in the prior week.
The week’s biggest decliners were Guaranty Trust Holding Company, Zenith Bank, DAAR Communications, Caverton Offshore Support Group, and RT Briscoe, which saw losses ranging from N22k to N9. The top gainers included Abbey Mortgage Bank, Nigerian Breweries, Associated Bus Company, Livestock Feeds, and Unilever Nigeria, with growth ranging from 9.65% to 46.17%.
The overall market sentiment this week reflected both losses and gains, with significant fluctuations observed across various sectors.
