August 09, (THEWILL) — The Nigerian equities market ended the week on a marginally positive note as the NGX All-Share Index (ASI) and market capitalisation appreciated by 0.12 percent, closing at 245,573.60 points and ₦158.513 trillion respectively.
The modest gain came amid a largely cautious trading environment, with investors continuing to reposition across sectors while profit-taking weighed on several counters.
A total of 5.359 billion shares valued at ₦139.053 billion exchanged hands during the week, compared with 5.119 billion shares worth ₦404.762 billion traded in the previous week. While trading volume increased, turnover value declined significantly, indicating that activity was concentrated more heavily in lower-priced stocks.
The Financial Services Industry remained the most active segment of the market by volume, accounting for 3.469 billion shares worth ₦73.013 billion. The sector contributed 64.73 percent of total equity turnover volume and 52.51 percent of turnover value.
The Oil & Gas Industry followed with 1.023 billion shares valued at ₦18.900 billion, while the ICT Industry ranked third with 232.368 million shares worth ₦14.624 billion.
Trading in Japaul Gold & Ventures, Fortis Global Insurance and FCMB Group accounted for 2.562 billion shares worth ₦14.173 billion. The three equities contributed 47.80 percent of total equity turnover volume and 10.19 percent of turnover value.
Investor sentiment remained cautious despite the positive movement in the benchmark index. Only 26 equities appreciated during the week, down from 33 in the previous week, while decliners increased to 63 from 56.
The figures point to a market where gains were concentrated in a relatively small number of stocks rather than reflecting broad-based buying interest.
The weakness was also evident across several sectoral indices. The NGX Insurance Index declined 3.31 percent, while the Consumer Goods Index fell 1.75 percent and the Growth Index dropped 2.14 percent.
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Top 5 Gainers
- AVA CAPITAL gained 33.33 percent (moving from N8.25 to N11.00).
- FCMB GROUP gained 13.10 percent (moving from N11.45 to N12.95).
- FIRST HOLDCO gained 12.23 percent (moving from N129.55 to N145.40).
- FORTIS GLOBAL INSURANCE gained 11.11 percent, (moving from N2.34 to N2.60).
- LINKAGE ASSURANCE gained 10.63 percent, (moving from N1.60 to N1.77).
Top 5 Decliners
- THOMAS WYATT declined by 26.71 percent (falling from N4.38 to N3.21).
- TRANS-NATIONWIDE EXPRESS declined by 23.76 percent (moving from N2.82 to N2.15).
- CRITICAL MINERALS FINANCING CORP declined by 22.68 percent (falling from N3.88 to N3.00).
- ECOBANK TRANSNATIONAL declined by 18.94 percent (moving from N88.95 to N72.10).
- CONSOLIDATED HALLMARK HOLDINGS declined by 16.51 percent (falling from N8.36 to N6.98).
Bonds
Trading in the bond market weakened during the week, with 117,372 units valued at ₦121.249 million, compared with 305,669 units worth ₦311.559 million exchanged in the previous week.
The market enters the new week with the benchmark index still above the 245,000-point level, but the sharp rise in decliners suggests that investors remain selective.
With activity increasingly concentrated in financial services and a handful of individual counters, the direction of the market will likely depend on whether buying interest broadens beyond the current pockets of strength. Continued profit-taking could keep the market volatile, while renewed demand for fundamentally strong stocks could provide support for the index.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
