- Despite Selective Sectoral Gains
The NGX equities market in this new week, is expected to remain mixed and cautious in the near term, as weak sentiment and profit-taking continue to weigh on performance, as profit taking slices N366 billion from market value.
The NGX equities market closed last week on a subdued note, extending its bearish momentum as widespread losses in heavyweight counters dragged down overall performance.
The NGX All-Share Index (ASI) declined by 0.25% week-on-week to settle at 249,712.37 points, while market capitalisation fell to N160.08 trillion, eroding approximately N366 billion in market value.
Consequently, year-to-date returns moderated to 60.47%, reflecting increasingly cautious and risk-averse investor sentiment across the domestic bourse.
Market breadth weakened further, closing negative at 0.81x, with 43 gainers versus 53 decliners, signalling limited and highly selective buying interest.
Trading activity was also notably muted, as the number of deals, volume, and value traded declined by 15.89%, 48.57%, and 55.07% week-on-week, respectively.
In total, investors exchanged 3.87 billion shares valued at N161.72 billion across 335,326 deals, underscoring reduced market participation and weaker liquidity conditions.
On the gainers’ chart, ABCTRANS led with a strong 59.3% rally, followed by UPL with 25.0% growth, JAPAULGOLD +22.0%, SK- YAVN +20.3%, and EUNISELL with +20.0% growth, largely driven by renewed demand in select mid- and low-cap stocks.
Conversely, the laggards’ table was dominated by SOVRENINS with 18.5% dip, RTBRISCOE 16.9%, UPDCREIT 14.3%, ABBEYBDS -11.9%, and NB which declined in price by 10.1%, reflecting profit-taking pressure and sustained sell-offs in previously rallied names.
Sectoral performance closed mixed, with selective gains offset by broad-based weakness across key indices.
The Banking sector led performance, advancing by 1.11% week-on-week, supported by strong buying interest in STANBIC, ZENITHBANK, and FIDELITYBK.
The Consumer Goods sector gained 0.24%, buoyed by renewed investor interest in select counters, particularly UNILEVER NI- GERIA PLC and MCNICHOLS PLC.
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