The Nigerian Exchange closed the week ending Thursday on a negative note, as investors lost a total of N833bn in a holiday-shortened trading week. Trading on the Exchange was cut to four days following the Federal Government’s declaration of Friday, September 5, as a public holiday to mark the Eid el Maulud celebration.

At the close of the week, the All-Share Index declined by 0.94 per cent to settle at 138,980.01 points, compared with 140,300.26 points recorded in the previous week. Similarly, the market capitalisation of listed equities dropped by N833bn to close at N87.937tn, down from N88.770tn the preceding week.

Market data showed that all major indices finished lower, with the exception of the Growth Index and the Commodity Index, which appreciated 0.15 per cent and 0.04 per cent, respectively, while the ASeM Index closed flat.

A total turnover of 3.117bn shares worth N90.295bn in 118,018 deals was traded during the week by investors on the floor of the Exchange. This contrasted with 3.199bn shares valued at N85.399bn exchanged in 142,477 deals the previous week, reflecting a lower deal count despite higher value.

The Financial Services Industry led the activity chart, measured by volume, with 2.542bn shares valued at N30.357bn traded in 52,390 deals. This sector contributed 81.55 per cent and 33.62 per cent to the total equity turnover volume and value, respectively.

The Services Industry followed with 114.610m shares worth N816.381m in 6,098 deals, while the Consumer Goods Industry placed third with a turnover of 105.452m shares worth N5.492bn in 13,346 deals.

Trading in the top three equities by volume, Sovereign Trust Insurance Plc, Access Holdings Plc, and Fidelity Bank Plc, accounted for 1.685bn shares worth N9.813bn in 9,367 deals. This represented 54.05 per cent and 10.87 per cent of the total equity turnover volume and value, respectively.

Sovereign Trust Insurance Plc dominated the activity chart with 1.416bn shares valued at N4.21bn traded in 124 deals, followed by Nigerian Breweries Plc with 41.2m shares worth N2.82bn, and Fidelity Bank Plc with 30.6m shares valued at N642.1m. Zenith Bank Plc also featured prominently with 26.4m shares worth N1.70bn.

On the price movement chart, 19 equities appreciated in price during the week, lower than 32 equities in the previous week. Sixty-four equities depreciated in price, higher than the 57 recorded in the previous week, while 64 remained unchanged, compared with 57 in the preceding week.

Top gainers for the week included Sovereign Trust Insurance Plc, which rose 14.23 per cent to close at N2.97 per share; Secure Electronic Technology Plc, which gained 12.94 per cent to N0.96 per share; and Cornerstone Insurance Plc, which appreciated 12.36 per cent to N7.18 per share. NCR Nigeria Plc, SCOA Nigeria Plc, and Guinea Insurance Plc also recorded notable gains.

On the flip side, DAAR Communications Plc led the decliners with a 21.10 per cent loss to close at N0.86 per share. UPDC Plc followed with a decline of 13.85 per cent to N5.60, while AIICO Insurance Plc shed 13.61 per cent to N3.49 per share. Other major losers included Champion Breweries Plc (-13.29 per cent), PZ Cussons Nigeria Plc (-13.28 per cent), and Lafarge Africa Plc (-13.08 per cent).

Learn Africa Plc, Eterna Plc, and University Press Plc were also among the top price decliners, with their shares dropping 10 per cent, 10 per cent, and 9.75 per cent, respectively.

Analysts noted that the losses reflected a mix of profit-taking activities, cautious sentiment over the shortened trading week, and weak investor appetite amid persistent macroeconomic concerns.

Despite the week’s decline, the NGX All-Share Index has maintained a year-to-date gain of 35.03 per cent, supported by sustained investor interest in fundamentally sound stocks across key sectors, particularly banking, insurance, and consumer goods.