Investors Trade 2.02bn Shares As NGX Loses N206bn

Investors traded 2.024 billion shares valued at N110.773 billion in 173,113 deals on the Nigerian Exchange Limited (NGX) last week, as renewed selling pressure wiped N206 billion off the market’s capitalisation.

The market’s bearish performance saw the benchmark NGX All-Share Index (ASI) decline by 0.97 per cent week-on-week to close at 247,222.27 points, while market capitalisation fell to N160.52 trillion from the previous week’s level.

Consequently, the market’s year-to-date (YTD) return moderated to 58.87 per cent, reflecting the impact of sell-offs across several equities.

Despite the decline in market value, trading activity increased during the review period. Investors traded 2.024 billion shares in 173,113 deals, compared with 1.659 billion shares valued at N98.088 billion in 184,632 deals in the preceding week.

The Financial Services Industry led trading by volume, accounting for 1.111 billion shares valued at N53.908 billion in 81,787 deals. The sector contributed 54.89 per cent of total equity turnover volume and 48.66 per cent of the overall value traded.

The Consumer Goods Industry followed with 394.039 million shares worth N9.811 billion exchanged in 17,912 deals, while the Agriculture Industry ranked third with 147.170 million shares valued at N2.821 billion in 7,462 deals.

At the individual stock level, Multitrex Integrated Foods Plc, Zenith Bank Plc and Livestock Feeds Plc emerged as the three most actively traded equities by volume. The stocks recorded a combined turnover of 521.565 million shares valued at N19.093 billion in 16,487 deals.

Their combined volume accounted for 25.76 per cent of total equity turnover, while their value represented 17.24 per cent of the market’s overall transaction value.

Market breadth remained negative, with 55 stocks declining against 20 gainers, indicating that losses across listed equities outweighed advances during the week.

ABC Transport Plc led the gainers, appreciating by 20.7 per cent to close at N7.30 per share. AVA Capital Partners Limited followed with a 17.7 per cent gain to close at N7.30 per share, while Caverton Offshore Support Group Plc rose by 17.1 per cent to close at N4.80 per share.

On the losing side, Omatek Ventures Plc recorded the steepest decline, shedding 12.5 per cent to close at N1.40 per share. University Press Plc followed with a 12.1 per cent loss to close at N4.35 per share, while Regency Alliance Insurance Plc depreciated by 11.3 per cent to close at 71 kobo per share.

Commenting on the market outlook, Cowry Assets Management Limited said the direction of equities in the coming sessions would be influenced by corporate earnings expectations, valuation levels, dividend prospects and broader investor sentiment amid evolving macroeconomic conditions.

The firm noted that the negative market breadth, with decliners significantly outnumbering gainers, pointed to persistent selling pressure and suggested that investors could maintain a cautious and selective approach.

According to Cowry Assets, investors may favour fundamentally strong stocks with attractive valuations, sustainable earnings and consistent dividend potential as they navigate prevailing market conditions.

“Nevertheless, continued price adjustments could create opportunities for bargain-hunting in quality equities, potentially supporting a market rebound if buying interest strengthens.

“However, the sustainability of any recovery will depend on improved investor confidence and a broader return of demand across key sectors,” the firm stated.