March 29, (THEWILL) — Trading on the Nigerian Exchange Limited ended the week slightly lower as investors adopted a cautious stance, rebalancing portfolios after weeks of strong price rallies in several mid- and small-cap stocks.
The NGX All-Share Index declined by 0.12 percent to close at 200,913.06, while market capitalisation eased to ₦128.969 trillion. The marginal dip reflects mild profit-taking across select equities even as pockets of speculative buying remained visible in lower-priced stocks.
A total turnover of 3.950 billion shares valued at ₦201.312 billion was recorded during the week, lower than the 8.761 billion shares worth ₦267.253 billion traded in the previous week, indicating a moderation in trading momentum.
Sectoral activity remained dominated by the Financial Services industry, which recorded 2.881 billion shares valued at ₦102.259 billion, accounting for 72.94 percent of total equity turnover volume and 50.80 percent of value.
The ICT sector followed with 230.539 million shares worth ₦45.172 billion, while the Agriculture industry recorded 191.927 million shares valued at ₦6.626 billion.
Trading in banking stocks continued to anchor market liquidity. Wema Bank Plc, Access Holdings Plc and United Bank for Africa Plc accounted for a combined 1.448 billion shares worth ₦43.191 billion, representing 36.65 percent and 21.45 percent of total equity turnover volume and value respectively.
Market breadth reflected mixed sentiment. Forty-seven equities advanced during the week, slightly lower than the 48 recorded previously, while 45 equities declined compared with 43 in the prior week. Fifty-six equities closed unchanged.
Top Gainers
1. Zichis Agro Allied Industries Plc gained 60.72 percent (₦8.58 to ₦13.79).
2. Premier Paints Plc rose 60.26 percent (₦23.40 to ₦37.50).
3. John Holt Plc advanced 59.92 percent (₦11.85 to ₦18.95).
4. Legend Internet Plc appreciated 25.00 percent (₦6.00 to ₦7.50).
5. McNichols Plc climbed 20.65 percent (₦6.15 to ₦7.42).
Top Losers
1. Livestock Feeds Plc declined 11.73 percent (₦8.10 to ₦7.15).
2. Fidson Healthcare Plc shed 9.97 percent (₦105.35 to ₦94.85).
3. Cadbury Nigeria Plc dropped 9.94 percent (₦69.95 to ₦63.00).
4. Austin Laz & Company Plc fell 9.89 percent (₦4.45 to ₦4.01).
5. Learn Africa Plc lost 9.09 percent (₦9.35 to ₦8.50).
In the bond segment, trading activity strengthened significantly with 224,310 units valued at ₦226.446 million exchanged, compared with 25,552 units worth ₦25.912 million recorded in the previous week.
Investor Sentiment and Outlook
Investor sentiment remains cautiously optimistic. While the slight decline in the benchmark index reflects profit-taking, the strong appreciation recorded in several mid-cap stocks signals continued speculative interest and liquidity rotation within the market.
Analysts note that banking stocks may continue to dominate trading activity as investors position ahead of potential dividend announcements and recapitalisation-driven balance sheet expansion across the sector.
Looking ahead, market direction is expected to remain mixed in the near term. Bargain hunting in fundamentally strong banking and industrial stocks may provide support for the index, while intermittent profit-taking in recently rallied equities could limit broad-based upside. Institutional investors are likely to remain selective, focusing on fundamentally sound companies with strong earnings visibility.
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.
