The Nigerian stock market concluded the week with a notable increase in investors' wealth, despite a general decline in trading activity. Market capitalization appreciated by N622 billion, marking a 0.39 percent rise to close at N157.057 trillion.
This gain occurred even as the Nigerian Exchange Ltd. (NGX) All-Share Index experienced a slight dip of 0.14 percent, settling at 243,462.13 points. The market had commenced the week with a capitalization of N156.445 trillion and an All-Share Index of 243,798.76 points.
Sectoral performance was mixed, with several indices closing higher. However, the NGX Main Board, NGX Consumer Goods, NGX Oil and Gas, NGX Lotus II, NGX Industrial Goods, NGX Growth, and NGX Sovereign Bond indices all recorded declines. These indices fell by 1.54 percent, 0.15 percent, 0.11 percent, 0.40 percent, 6.26 percent, 0.09 percent, and 0.33 percent, respectively, while the NGX Commodity Index remained flat.
Trading activity saw a reduction compared to the previous week. Investors exchanged 2.819 billion shares valued at N182.499 billion across 226,729 deals. This was a decrease from the preceding week's figures of 3.648 billion shares worth N220.568 billion traded in 251,861 deals.
The Financial Services Industry led market activity, with 2.006 billion shares valued at N99.697 billion traded in 96,171 deals. This segment alone accounted for 71.17 percent of the total equity volume and 54.63 percent of the total value traded.
Following the Financial Services Industry, the Consumer Goods Industry recorded 178.863 million shares worth N7.872 billion in 26,637 deals. The Oil and Gas Industry also saw significant activity, with 151.237 million shares valued at N38.309 billion exchanged in 16,879 deals.
The three most-traded equities by volume were First Holdco Plc, FCMB Group Plc, and Access Holdings Plc. These companies collectively traded 939.402 million shares worth N57.673 billion in 19,051 deals, contributing 33.33 percent of the total traded volume and 31.60 percent of the total traded value.
Market breadth weakened during the week, with 44 equities advancing, down from 60 in the previous week. Conversely, 35 equities declined, an increase from 28 recorded previously. A total of 67 equities closed unchanged, higher than the 58 in the preceding week.
Leading the gainers' chart for the week were First Holdco, which appreciated by N26.75, Thomas Wyatt Nigeria with a gain of 66 kobo, Fidelity Bank rising by N2.85, Learn Africa adding N1.30, and United Bank for Africa increasing by N4.50.
On the losers' table, BUA Cement recorded the steepest decline, shedding N64.60. Other significant decliners included Red Star Express (N4.55), International Energy Insurance (84 kobo), C&I Leasing (85 kobo), and PZ Cussons Nigeria (N9.05).
In other market news, the NGX announced that 13.812 billion additional ordinary shares of 50 kobo each of Sterling Financial Holdings Company Plc were admitted to its Daily Official List on July 16. This admission further boosted the company's issued share capital.
