July 03, (THEWILL) — The Nigerian Exchange (NGX) closed the week on a negative note as sustained profit-taking across key counters dragged market performance lower, with investors losing ₦1.80 trillion despite a significant increase in trading activity.
The benchmark All-Share Index (ASI) declined 1.21 percent week-on-week to close at 229,240.34, while market capitalisation fell by the same margin to ₦147.103 trillion.
Trading activity, however, strengthened during the week as investors exchanged 3.821 billion shares valued at ₦154.393 billion in contrast to 2.324 billion shares worth ₦134.486 billion traded in the previous week.
The Financial Services Industry dominated market activity, accounting for 2.330 billion shares valued at ₦54.606 billion, representing 60.99 percent and 35.37 percent of total equity turnover volume and value, respectively.
The Services Industry followed with 509.473 million shares worth ₦16.353 billion, while the Consumer Goods Industry ranked third with 216.344 million shares valued at ₦8.057 billion.
Trading in Sterling Financial Holdings Company Plc, Access Holdings Plc, and Ikeja Hotel Plc accounted for 1.405 billion shares worth ₦28.370 billion, contributing 36.78 percent and 18.37 percent to total equity turnover volume and value, respectively.
Investor sentiment remained subdued as 22 equities advanced, 57 declined, while 67 stocks closed unchanged during the week. Sectoral performance was largely bearish, with all NGX indices ending lower except the NGX Main Board Index, which appreciated by 2.27 percent.
Pricing Session
Top five gainers
* AIRTEL AFRICA PLC rallied 21.00 percent, (advancing from ₦4,358.80 to ₦5,274.00).
* REGENCY ASSURANCE PLC appreciated 20.25 percent, (rising from ₦0.79 to ₦0.95).
* UPDC PLC gained 12.31 percent, (climbing from ₦3.25 to ₦3.65).
* DAAR COMMUNICATIONS PLC advanced 7.84 percent, (moving up from ₦1.53 to ₦1.65).
* SUNU ASSURANCES NIGERIA PLC increased 7.50 percent, (appreciating from ₦3.60 to ₦3.87).
Top five decliners
* INTERNATIONAL ENERGY INSURANCE PLC topped the losers’ chart after plunging 18.83 percent, (declining from ₦5.79 to ₦4.70).
* MCNICHOLS PLC shed 18.60 percent, (falling from ₦8.60 to ₦7.00).
* UNIVERSITY PRESS PLC lost 17.54 percent, (dropping from ₦5.70 to ₦4.70).
* R T BRISCOE PLC retreated 13.98 percent, (easing from ₦11.80 to ₦10.15).
* UPDC REAL ESTATE INVESTMENT TRUST declined 13.00 percent, (slipping from ₦10.00 to ₦8.70).
In the fixed-income market, a total of 171,214 bond units valued at ₦180.178 million were traded during the week, compared with 185,340 units worth ₦191.483 million exchanged in the preceding week.
Despite improved turnover, the week’s negative breadth underscored persistent investor caution, with sustained profit-taking continuing to outweigh bargain hunting across the broader market.
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.
