November 23, (THEWILL) — Equities market closed the week lower as sustained selling pressure and reduced investor participation dragged major indicators into negative territory. A total turnover of 2.668 billion shares worth ₦106.264 billion was traded last week, representing a significant drop from the 7.325 billion shares valued at ₦156.425 billion recorded in the previous week.
The sharp decline in trading activity reflects weakened appetite for risk assets amid tighter monetary conditions, persistent profit-taking, and cautious sentiment ahead of year-end positioning.
Sector Performance
The Financial Services Industry remained the dominant sector, contributing 68.21% to total trading volume and 42.16% to value with 1.820 billion shares worth ₦44.806 billion exchanged in 45,297 deals.
It was followed by the:
• Services Industry with 324.191 million shares worth ₦1.761 billion
• Oil and Gas Industry with 143.185 million shares worth ₦37.741 billion
Most Traded Equities
Access Holdings Plc, Tantalizers Plc, and Zenith Bank Plc led market activity, jointly accounting for:
• 1.057 billion shares
• Worth ₦24.652 billion
• Representing 39.63% of total volume and 23.20% of total value
This concentration of activity underscores the dominance of financial names and select consumer players in driving market liquidity.
Index Movement
The market closed deep in the red as the:
- NGX All-Share Index (ASI) depreciated by 2.24% to 143,722.62
- Market Capitalization fell by 2.23% to ₦91.415 trillion
All other sectoral indices closed lower except the NGX Sovereign Bond Index, which appreciated by 0.32%, supported by renewed interest in fixed-income securities amid rising yields.
Market Breadth
Investor sentiment remained negative throughout the week:
- 20 equities appreciated (vs 48 last week)
- 60 equities depreciated (vs 45 last week)
- 67 equities remained unchanged (vs 53 last week)
The decline in advancers and rise in laggards reflect broad-based weakening in pricing momentum.
Top Gainers for the Week
- NCR Nigeria Plc — 60.55 percent (₦25.60 → ₦41.10)
- University Press Plc — 17.65 percent (₦5.10 → ₦6.00)
- Tantalizers Plc — 17.29 percent (₦2.14 → ₦2.51)
- Caverton Offshore Support Group — 17.02 percent (₦4.70 → ₦5.50)
- UACN Plc — 16.67 percent (₦60.00 → ₦70.00)
Top Losers for The Week
- International Energy Insurance -22.06 percent (₦2.72 → ₦2.12)
- McNichols Plc -14.90 percent (₦3.02 → ₦2.57)
- Veritas Kapital Assurance -14.89 percent (₦1.88 → ₦1.60)
- AIICO Insurance -13.70 percent (₦3.65 → ₦3.15)
- LivingTrust Mortgage Bank -13.53 percent (₦4.14 → ₦3.58).
Outlook for Next Week
The market may continue to trade cautiously as investors respond to rising fixed-income yields, tighter liquidity, and repositioning ahead of the final trading month of the year. However, bargain-hunting is expected in oversold counters, especially within banking, industrial goods, and selected consumer stocks.
Short-term volatility is likely, but turnover could improve if institutional investors re-enter the market.
Ogochukwu Onwaeze
