The NSI fell by 0.60% DTD and 0.20% WTD, with market capitalisation dropping to ₦1.94 trillion, indicating a slight bearish sentiment.
While volume plunged by 83.27%, the value of transactions surged by 40.49%, suggesting fewer but higher-value trades; the 117.65% jump in trades reflects increased market participation.
AG Mortgage Bank (9.43%) led gains, followed by FrieslandCampina WAMCO (6.96%) and Afriland Properties (1.29%), signaling investor interest in select stocks despite overall market weakness.
Weekly Performance
The NGXASI declined 0.55% WTD, closing at 105,955.13 points, driven by profit-taking in TANTALIZER (-9.85%), JAIZBANK (-9.72%), and DANGSUGAR (-7.76%), leading to a ₦166.43 billion loss in market capitalization (now ₦66.35 trillion).
Despite a 119.65% surge in volume, market value declined 33.61%, indicating lower-priced stocks dominated trades. CHAMPION led the volume chart (46.68%), while ARADEL accounted for over 16.5% of the total value traded, alongside CHAMPION and MTNN.
Four of five sector indices closed negative. The Insurance Index gained 0.50%, supported by ROYALEX (+10%) and LINKASSURE (+9.57%), while Consumer Goods (-1.08%) and Banking (-0.19%) suffered losses from DANGSUGAR (-7.76%), ACCESSCORP (-1.06%), and STANBIC (-1.67%). Oil & Gas also weakened, with JAPAULGOLD (-2.42%) and OANDO (-1.89%) dragging the sector.
The market breadth of 0.92x indicates weak sentiment, as 24 stocks declined versus 22 gainers, with an advancer-to-market ratio of 0.18, reflecting an uninspiring outlook
