February 28, (THEWILL) — The Nigerian equities market ended the week under pressure, with the NGX All-Share Index (ASI) and Market Capitalisation recording marginal declines as investors adopted a cautious stance.
A total turnover of 5.494 billion shares worth ₦196.709 billion was traded this week on the floor of the Exchange, down from 7.662 billion shares valued at ₦252.566 billion exchanged last week, reflecting reduced market activity and investor participation.
The Financial Services Industry led trading activity, with 3.241 billion shares valued at ₦82.775 billion, contributing 58.99 percent and 42.08 percent to total equity turnover by volume and value, respectively. The Oil and Gas Industry followed with 897.862 million shares worth ₦38.816 billion, while the Services Industry recorded 360.490 million shares valued at ₦5.782 billion, rounding out the top three sectors.
Trading in the top three equities Japaul Gold & Ventures Plc, Fortis Global Insurance Plc, and Zenith Bank Plc accounted for 1.576 billion shares worth ₦33.464 billion, representing 28.68 percent and 17.01 percent of the total equity turnover by volume and value, respectively.
The NGX All-Share Index depreciated by 1.11 percent to close at 192,826.78, while Market Capitalisation dipped by 1.12 percent to ₦123.763 trillion. Sector performance was mixed as most indices finished lower, with notable exceptions: NGX Banking (+0.71 percent ), NGX Pension (+0.13 percent ), NGX AFR Bank Value (+2.35 percent ), NGX MERI Growth (+3.11 percent), NGX MERI Value (+0.92 percent ), NGX Sovereign Bond (+1.25 percent ), and NGX Commodity (+1.27 percent), which all posted gains.
Market breadth weakened as 32 equities appreciated, down from 71 last week, while 69 equities depreciated, up from 41, and 47 equities remained unchanged, compared to 36 previously.
Top Gainers of the Week
FORTIS GLOBAL INSURANCE PLC 56.67 percent (₦0.60 to ₦0.94)
OKOMU OIL PALM PLC 20.92 percent (₦1,459.70 to ₦1,765.00)
INFINITY TRUST MORTGAGE BANK PLC 20.63 percent (₦15.75 to ₦19.00)
AXAMANSARD INSURANCE PLC 17.20 percent (₦15.70 to ₦18.40)
FCMB GROUP PLC 16.81 percent (₦11.90 to ₦13.90)
Top Losers of the Week
ASSOCIATED BUS COMPANY PLC -25.00 percent (₦9.00 to ₦6.75)
DAAR COMMUNICATIONS PLC -20.68 percent (₦2.66 to ₦2.11)
TANTALIZERS PLC -16.67 percent (₦5.40 to ₦4.50)
LIVINGTRUST MORTGAGE BANK PLC -16.67 percent (₦6.55 to ₦5.60)
UNIVERSITY PRESS PLC -13.01 percent (₦6.15 to ₦5.35)
In the bond market, a total of 579,488 units valued at ₦585.173 million were traded in 44 deals, up from 246,779 units worth ₦256.629 million last week, showing a moderate uptick in fixed-income activity.
Despite the dip in the benchmark index, sector-specific gains, particularly in Financial Services and Oil & Gas, suggest selective buying interest remains in the market. Investors are expected to adopt a cautious approach in the coming week, focusing on resilient mid-cap and defensive stocks amid broader market volatility.
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.
