The Nigerian Exchange (NGX) closed the week on a negative note, as the All-Share Index declined by 1.65% while market capitalisation fell by 1.60% to close at N148.905 trillion on Friday, June 26. This downturn reflects persistent selling pressure across major sectors, with financial services stocks dominating trading activity but unable to lift overall market sentiment.
Trading Volume and Value Decline
A total turnover of 2.324 billion shares valued at N134.486 billion was recorded in 249,328 deals on the floor of the Exchange during the week, compared with 3.075 billion shares worth N254.614 billion traded in 287,157 deals in the previous week. This represents a significant drop in both volume and value, indicating reduced investor participation and cautious positioning ahead of the new week.
The Financial Services Industry, measured by volume, led trading activity with 1.523 billion shares valued at N47.542 billion exchanged in 105,230 deals. The sector accounted for 65.53% of total equity turnover volume and 35.35% of total turnover value. The ICT Industry followed with 198.821 million shares worth N32.622 billion traded in 29,905 deals, while the Consumer Goods Industry ranked third with a turnover of 151.635 million shares valued at N10.933 billion in 23,951 deals.
Top Traded Equities
Trading in the top three equities by volume was led by Access Holdings Plc, Fidelity Bank Plc, and Chams Holding Company Plc, which accounted for 485.749 million shares worth N7.656 billion in 17,843 deals, representing 20.90% of total equity turnover volume and 5.69% of total value. These stocks saw heightened activity but still faced overall market headwinds.
Market sentiment remained bearish during the week, with 22 equities recording price appreciation, higher than 11 equities in the previous week. However, 57 equities declined in price, lower than 78 recorded in the previous week, while 67 equities closed unchanged, compared with 57 in the previous week. The breadth remained negative, with decliners outpacing gainers by more than 2 to 1.
Top Price Gainers
- MCNichols Plc: N6.80 to N8.60 (+N1.80, 26.47%)
- International Energy Insurance Plc: N5.06 to N5.79 (+N0.73, 14.43%)
- Guaranty Trust Holding Company Plc: N115.55 to N127.90 (+N12.35, 10.69%)
- First HoldCo Plc: N55.00 to N60.50 (+N5.50, 10.00%)
- Airtel Africa Plc: N3,962.60 to N4,358.80 (+N396.20, 10.00%)
- Skyway Aviation Handling Company Plc: N155.75 to N171.20 (+N15.45, 9.92%)
- Tripple Gee and Company Plc: N3.36 to N3.69 (+N0.33, 9.82%)
- Chapel Hill Denham Nigerian Infrastructure Debt Fund: N129.00 to N135.00 (+N6.00, 4.65%)
- University Press Plc: N5.45 to N5.70 (+N0.25, 4.59%)
- Zenith Bank Plc: N110.00 to N114.95 (+N4.95, 4.50%)
Top Price Decliners
- Trans-Nationwide Express Plc: N4.48 to N3.28 (-N1.20, -26.79%)
- DEAP Capital Management & Trust Plc: N4.89 to N3.75 (-N1.14, -23.31%)
- Abbey Mortgage Bank Plc: N10.10 to N8.05 (-N2.05, -20.30%)
- Aradel Holdings Plc: N1,750.00 to N1,417.50 (-N332.50, -19.00%)
- Regency Assurance Plc: N0.97 to N0.79 (-N0.18, -18.56%)
- Academy Press Plc: N8.10 to N6.70 (-N1.40, -17.28%)
- Consolidated Hallmark Holdings Plc: N7.14 to N6.00 (-N1.14, -15.97%)
- DAAR Communications Plc: N1.81 to N1.53 (-N0.28, -15.47%)
- UPDC Plc: N3.80 to N3.25 (-N0.55, -14.47%)
- Royal Exchange Plc: N1.53 to N1.31 (-N0.22, -14.38%)
Market Outlook
The bearish close reflects ongoing caution among investors, with the All-Share Index shedding 1.65% for the week. Analysts attribute the decline to profit-taking in recent gainers and uncertainty ahead of corporate earnings releases. The market breadth, with 22 gainers versus 57 losers, underscores the negative sentiment despite improved gainer count from the prior week.
In related news, Legit.ng earlier outlined steps Nigerians could take to prepare for the anticipated Initial Public Offering (IPO) of the Dangote Group’s refinery. Otedola disclosed plans to invest as much as $100 million in the refinery through a private placement ahead of the public listing. Aliko Dangote indicated that the refinery’s listing is expected to commence in September 2026.
