February 01, (THEWILL) — The Nigerian equities market recorded a decline in trading activity in the week ended Friday, January 30, as investors exchanged a total of 3.087 billion shares valued at N81.505 billion on the floor of the Exchange. This represented a notable drop compared with the previous week’s turnover of 3.748 billion shares worth N99.865 billion, reflecting softer participation across the market.
Sectoral performance showed that the Financial Services Industry, measured by volume, remained the most active segment of the market. The sector recorded a turnover of 1.495 billion shares valued at N33.923 billion, accounting for 48.45 percent of the total equity volume and 41.62 percent of the total value traded. The Services Industry followed with 443.222 million shares worth N4.936 billion, while the ICT Industry ranked third with 279.520 million shares valued at N6.443 billion.
Trading in the top three equities by volume, Veritas Kapital Assurance Plc, Cutix Plc and Secure Electronic Technology Plc accounted for 513.382 million shares worth N1.139 billion. These transactions contributed 16.63 percent of the total market volume and 1.40 percent of the total value traded during the week.
Market performance was mixed, as the NGX All-Share Index (ASI) depreciated by 0.09 percent to close the week at 165,370.40 points. In contrast, market capitalization edged higher by 0.18 percent to settle at N106.153 trillion, indicating slight gains in market value despite the marginal decline in the benchmark index.
Most sectoral indices closed in positive territory, underscoring selective buying interest across the market. However, several key indices recorded declines, including the NGX 30, NGX Consumer Goods, NGX Premium, NGX Banking, NGX Pension, NGX Growth and NGX Pension Broad indices, which fell by 0.13 percent, 0.63 percent, 0.75 percent, 0.63 percent, 0.41 percent, 1.13 percent and 0.22 percent respectively.
Market breadth weakened compared with the previous week. A total of forty-four equities appreciated in price, lower than the fifty-eight recorded in the preceding week. Meanwhile, forty-nine equities depreciated, higher than forty in the previous week, while fifty-five equities closed unchanged, compared with fifty recorded earlier.
Top Gainers for Week Ended Friday, January 30
ZICHIS AGRO ALLIED INDUSTRIES PLC advanced by 59.92 percent (N2.62 to N4.19).
OMATEK VENTURES PLC 49.25 percent (from N2.01 to N3.00).
UH REAL ESTATE INVESTMENT TRUST gained 32.94 percent (N71.35 to N94.85).
MORISON INDUSTRIES PLC rose by 32.85 percent (upward move from N7.52 to N9.99).
S C O A NIG. PLC grew by 32.77 percent (N23.80 to N31.60).
Top Losers for the Week
NEIMETH INTERNATIONAL PHARMACEUTICALS PLC dropped by -26.04 percent (N13.25 to N9.80).
LIVINGTRUST MORTGAGE BANK PLC -21.36 percent (N5.15 to N4.05).
MAY & BAKER NIGERIA PLC -19.54 percent (opened at N43.50 and closed at N35.00).
LIVESTOCK FEEDS PLC fell -13.70 percent (falling from N7.30 to N6.30).
AUSTIN LAZ & COMPANY PLC recorded a loss of -13.14 percent (dipping from N4.49 to N3.90).
Bonds Market
Activity in the bonds segment improved during the week, as a total of 91,005 units valued at N90.685 million were traded in 42 deals. This was higher than the previous week’s performance of 45,386 units valued at N48.053 million.
Overall, the week’s trading reflected cautious investor positioning, with reduced turnover and mixed sectoral performances. While select stocks recorded strong gains, the broader market experienced mild pressure, pointing to a market driven by stock-specific movements rather than broad-based momentum.
Trading in the coming week is expected to remain cautious, with investors focusing on selective stocks amid mixed market performance. The financial services sector is likely to continue driving market activity, while broader sentiment may stay subdued due to declining turnover and recent losses across several equities. Overall, the market may trade sideways with mild volatility as investors await clearer economic and corporate signals.
Ogochukwu Onwaeze
