Emmanuel Ochayi
The Nigerian equity market experienced a significant setback last week, losing N185 billion as key indicators, the All-Share Index and Market Capitalisation, dropped by 0.33% and 0.31% to close at 97,506.87 and N59.11 trillion, respectively.
Equity Market Weekly Summary
A total of 3.194 billion shares valued at N54.850 billion were traded across 45,112 deals in the week under review. The financial services industry took the lead, accounting for 47.25% of the total equity turnover volume and 49.05% of the value.
Join our WhatsApp ChannelSpeaking on the development, equity analyst John Adekunle stated, “The financial services sector continues to dominate activities due to its high liquidity. However, the overall market performance reflects cautious investor sentiment driven by economic uncertainties.”
The construction and real estate industry followed closely with 839.945 million shares worth N4.806 billion, while the oil and gas industry traded 256.445 million shares valued at N13.307 billion.
Mixed Performances Among Equities
Trading in Haldane McCall Plc, FBN Holdings Plc, and Japaul Gold and Ventures Plc collectively contributed nearly half of the week’s turnover volume, with 1.587 billion shares worth N19.797 billion exchanged in 3,632 deals.
While 32 equities recorded gains, 46 depreciated, and 75 remained unchanged. SUNU Assurances Nigeria Plc led the gainers, rising by 23.42% to close at N3.90. On the other hand, Austin Laz & Company Plc topped the losers, dropping by 26.32% to end at N1.96.
READ ALSO: Nigeria’s Equity Market Declines As Profit-Taking Halts Rally
Market participant Aisha Bello remarked, “The equity market is seeing polarizing performances across industries, with some stocks rebounding while others face persistent declines. Investors are recalibrating their strategies in response to these changes.”
Broader Implications for the Equity Market
The market’s performance underscores the cautious approach investors are taking amid broader economic concerns. Despite intermittent gains, including Thursday’s market capitalisation increase by N306 billion to N59.3 trillion, uncertainty looms.
“The equity market is currently at a crossroads,” said financial expert Emeka Nwosu. “While some investors are taking advantage of low valuations, others are staying on the sidelines, waiting for clear signals of economic stability.”
Outlook for the Equity Market
As global and local factors continue to shape investor behaviour, market analysts recommend monitoring sector-specific trends for opportunities. Financial services, construction, and oil and gas remain key sectors to watch.
The Nigerian equity market’s mixed performance highlights the need for diversified investment strategies. With gains and losses across industries, the coming weeks will be pivotal in shaping market direction.
