The Nigerian equities market ended the week on a negative note as the Nigerian Exchange Limited recorded a decline in both the All-Share Index and market capitalisation.
At the close of weekly trading, the NGX All-Share Index fell by 1.21 per cent to settle at 229,240.34 points.
Market capitalisation also dropped to ₦147.103 trillion, representing a weekly loss of about ₦1.802 trillion.
The decline came after the market closed the previous week with capitalisation of ₦148.905 trillion and an All-Share Index of 232,049.02 points.
Most NGX indices closed lower during the review week, except the NGX Main Board Index, which appreciated by 2.27 per cent.
Despite the decline in market value, trading activity improved when compared with the previous week.
Investors traded a total of 3.821 billion shares valued at ₦154.393 billion in 258,567 deals.
This was higher than the previous week’s turnover of 2.324 billion shares worth ₦134.486 billion in 249,328 deals.
The Financial Services Industry dominated market activity, accounting for 2.330 billion shares worth ₦54.606 billion in 108,978 deals.
The sector contributed 60.99 per cent of total equity turnover volume and 35.37 per cent of total market value.
The Services Industry followed with 509.473 million shares valued at ₦16.353 billion in 16,527 deals.
The Consumer Goods Industry ranked third, recording 216.344 million shares worth ₦8.057 billion in 25,963 deals.
Trading in Sterling Financial Holdings Company Plc, Access Holdings Plc and Ikeja Hotel Plc accounted for a major portion of weekly market activity.
The three equities recorded combined transactions of 1.405 billion shares valued at ₦28.370 billion in 12,898 deals.
Together, they contributed 36.78 per cent of total equity turnover volume and 18.37 per cent of total turnover value.
Market breadth remained weak during the week, with 22 equities appreciating in price.
Fifty-seven equities recorded price losses, while 67 equities closed unchanged.
The top five decliners for the week were International Energy Insurance, McNichols, University Press, RT Briscoe and UPDC Real Estate Investment Trust
International Energy Insurance lost ₦1.09, McNichols dropped ₦1.60, University Press declined by ₦1, RT Briscoe shed ₦1.65, while UPDC Real Estate Investment Trust lost ₦1.30.
On the gainers’ chart, Airtel Africa led with a price increase of ₦915.20.
Other top gainers were Regency Alliance Insurance, UPDC, Daar Communications and Sunu Assurances, which gained 16 kobo, 40 kobo, 12 kobo and 27 kobo respectively.
In regulatory updates, NGX notified trading licence holders and the investing public that Abbey Mortgage Bank Plc had officially changed its name to Abbey Bank Plc.
The Exchange also announced the implementation of the name change of Deap Capital Management and Trust Plc to Critical Minerals Financing Corp Plc.
NGX further provided an update on Fortis Global Insurance Plc following the earlier suspension of trading in its shares for share reconstruction.
The Exchange said the company’s 12,911,030,586 ordinary shares were delisted from the Daily Official List on July 2.
Following the reconstruction, 3,227,757,647 ordinary shares of 50 kobo each were listed on the NGX Daily Official List at ₦3.96 per share.
According to NGX, the share reconstruction followed shareholders’ approval at the company’s Extraordinary General Meeting held on April 4, 2025.
The Exchange also noted that the Securities and Exchange Commission had issued no objection to the exercise.
Consequently, NGX lifted the suspension earlier placed on the securities of Fortis Global Insurance Plc after the completion of the share reconstruction.
The week’s performance reflected profit-taking and cautious investor sentiment, although the higher turnover showed that market participation remained active.
