Nigerian equities dip 0.50% WoW as profit-taking hits 57 stocks

The Nigerian Exchange (NGX) closed negative last week as profit-taking pressure dragged the market lower, extending its bearish run.

The All-Share Index (ASI) shed 0.50%, closing at 140,295.49 points from 141,004.14 points recorded the previous week. Similarly, market capitalization declined by ₦440 billion or 0.49% to ₦88.77 trillion from ₦89.21 trillion. Year-to-date (YTD), the market remains strong at +36.31%.

A total of 3.2 billion shares, worth ₦85.5 billion, exchanged hands in 142,654 deals during the week.

Sector Performance

Market performance was broadly bearish across major sectors:

Banking Index: -1.21%

Insurance Index: -1.02%

Consumer Goods Index: -0.89%

Industrial Goods Index: -0.36%

The NGX AFR Dividend Yield Index bucked the trend, rising 0.94%, while the NGX ASeM index closed flat.

The market breadth remained negative with 32 gainers against 57 decliners.

Top 10 Gainers

MCNICHOLS: +18.75% to ₦3.80

NEM Insurance: +17.29%

Berger Paints: +15.31%

WAPIC Insurance: +12.77%

LearnAfrica: +11.43%

Other gainers: NCR (+10.00%), SFSREIT (+9.99%), Julius Berger (+9.93%), SCOA (+9.09%), BetaGlass (+8.16%).

Top 10 Losers

Secure Electronic Technology: -22.73% to ₦0.85

Guinea Insurance: -19.77%

LASACO: -13.29%

University Press: -12.06%

Mutual Benefits: -11.36%

Other decliners: Royal Exchange (-11.11%), John Holt (-10.00%), Cornerstone Insurance (-10.00%), DAAR Communication (-9.92%), ABC Transport (-9.80%).