May 24, (THEWILL) — Nigeria’s equities market closed the week on a negative note as declining investor activity and sustained profit-taking pressured key market indicators, despite selective gains recorded in banking and consumer goods counters.
Data from the Nigerian Exchange Limited showed that a total turnover of 3.875 billion shares worth ₦161.757 billion was traded in trading deals during the week, representing a sharp decline from the 7.772 billion shares valued at ₦374.040 billion exchanged in the previous week.
The Financial Services Industry led the activity chart by volume with 2.410 billion shares valued at ₦69.712 billion, accounting for 62.19 percent and 43.10 percent of total equity turnover volume and value respectively.
The Services Industry followed with 409.306 million shares worth ₦5.409 billion, while the Oil & Gas Industry ranked third with 294.859 million shares valued at ₦31.496 billion.
Trading activity was largely driven by Sterling Financial Holdings Company Plc, Fidelity Bank Plc, and Access Holdings Plc, which jointly accounted for 1.092 billion shares worth ₦19.527 billion, contributing 28.18 percent and 12.07 percent to total market volume and value respectively.
The NGX All-Share Index depreciated by 0.25 percent to close at 249,712.37 points, while market capitalisation declined by 0.23 percent to settle at ₦160.077 trillion.
Market breadth also reflected cautious sentiment as several sectoral indices closed lower. However, the NGX Banking Index advanced by 1.11 percent, while the NGX Premium, NGX Pension, and NGX Commodity indices also posted marginal gains.
Top Gainers
Leading the gainers’ chart was Associated Bus Company Plc, which appreciated by 44.82 percent (from ₦6.27 to ₦9.08).
Academy Press Plc gained 29.79 percent (to close at ₦9.15 from ₦7.05).
University Press Plc rose by 29.79 percent (from ₦5.00 to ₦6.40).
Also on the advancers’ list was International Energy Insurance Plc, which climbed 22.22 percent (to ₦3.41 from ₦2.79).
Learn Africa Plc appreciated by 18.89 percent (to close at ₦12.90 from ₦10.85).
Top Decliners
On the losers’ chart, Sovereign Trust Insurance Plc shed 22.45 percent, (falling from ₦2.94 to ₦2.28).
Trans-Nationwide Express Plc declined by 18.98 percent (to close at ₦5.72 from ₦7.06).
CAP Plc dropped 14.85 percent (from ₦233.70 to ₦199.00).
Similarly, Berger Paints Nigeria Plc lost 12.64 percent (to close at ₦147.60 from ₦168.95).
R.T. Briscoe Nigeria Plc declined by 11.18 percent (to ₦14.06 from ₦15.83).
In the fixed income market, a total of 166,770 bond units valued at ₦169.816 million were traded during the week, lower than the 290,830 units valued at ₦306.571 million recorded in the preceding week.
Investor sentiment remained subdued during the week as declining transaction volume and weaker turnover reflected a more cautious market environment.
Analysts attributed the softer market performance to continued profit-taking in previously rallying mid-cap stocks, alongside portfolio repositioning by institutional investors.
However, resilience in banking and select consumer-related counters suggests investors remain selectively active in fundamentally strong sectors. Market participants are expected to closely monitor macroeconomic signals, interest rate expectations, and corporate earnings guidance for direction in the coming week.
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.
