The Nigerian equity market recorded a significant dip during the Easter-shortened trading week, shedding a whopping N207 billion in market capitalization. This decline reflects mixed investor sentiment as companies continue to release earnings and announce dividends.
Due to the public holidays declared for Good Friday and Easter Monday (April 18 and 21, 2025), trading on the Nigerian Exchange Limited (NGX) was limited to just four days. The All-Share Index dropped by 0.32%, settling at 104,233.81 points, while market capitalization fell from N65.706 trillion to N65.499 trillion.
According to NGX’s weekly report, a total of 1.525 billion shares worth N43.006 billion were traded in 51,156 deals — a notable drop compared to the previous week’s 2.094 billion shares valued at N52.967 billion in 64,612 deals. Clearly, market activity slowed significantly.
The financial services sector led the charge in terms of volume and value, accounting for 1.122 billion shares worth N24.015 billion across 28,818 deals. That’s a staggering 73.56% of the total volume and 55.84% of the market’s value.
Following behind was the ICT sector, which recorded 101.252 million shares worth N4.819 billion in 2,541 deals. The services sector also made an appearance with 99.776 million shares valued at N1.230 billion across 3,063 deals.
Top-traded stocks by volume were Access Holdings Plc, Fidelity Bank Plc, and Universal Insurance Plc. Together, they moved 448.105 million shares worth N6.730 billion in 6,481 deals, accounting for nearly 30% of the week’s total volume.
Interestingly, market breadth showed some resilience. Thirty-one equities posted gains — an improvement from the 27 gainers the week before. Meanwhile, 44 stocks declined in price, fewer than the previous week’s 56 losers. Seventy-two equities remained unchanged.
The Exchange Traded Products (ETPs) segment also saw reduced activity, with just 19,814 units traded for N3.572 million in 62 deals, compared to 111,693 units worth N6.115 million the week prior.
Similarly, the bond market recorded a turnover of 81,759 units valued at N84.283 million in 27 deals — a decline from the previous 144,487 units worth N151.615 million in 100 deals.
Not all was gloomy, though. Some indices posted gains: the Premium Index rose by 0.57%, MERI Growth gained 2.67%, Consumer Goods climbed 2.33%, and the Pension Index appreciated by 0.42%, among others.
Meanwhile, Wema Bank Plc opened trading on its rights issue of 14.29 billion ordinary shares at N10.45 each. The offer, open since April 14, is based on two new shares for every three held as of March 5, 2025.
Despite the overall dip, the market ended on a positive note on Thursday, with investors gaining N239 billion in capitalization — a strong comeback after the earlier losses.
Want to stay ahead of Nigeria’s business and financial news? Follow NIGPOST daily for sharp insights, fresh updates, and real-time market trends.
Leave a Reply