The Nigerian equities market continued its downward trend in the just-concluded trading week, with investors incurring a total loss of N476 billion on the trading floor of the Nigerian Exchange (NGX). This follows the N421 billion loss recorded in the previous week, reflecting sustained bearish sentiment. Over the course of the week, the market recorded gains on only one of the five trading days, ultimately closing with a net loss of N476 billion. As a result, market capitalisation declined from N67.193 trillion in the prior week to N66.717 trillion. Similarly, the All-Share Index (ASI) fell by 1.19 per cent, closing at 106,538.60 points, down from 107,821.39 points recorded the week before.
The trading week began on Monday, 3 March 2025, on a bearish note, as investors lost N94.61 billion at the end of the session. The losses deepened on Tuesday, 4 March, with an even sharper decline of N344.95 billion. Wednesday, 5 March, saw the market continue its downward trajectory, shedding an additional N273.66 billion. However, the bulls briefly returned on Thursday, 6 March, bringing a temporary rebound as investors gained N215.57 billion. The optimism was short-lived, as the market closed the week on Friday, 7 March, with another loss of N151.62 billion.
Investor activity remained high, with a total turnover of 1.818 billion shares valued at N47.226 billion exchanged in 64,222 deals throughout the week. This marked a slight decline from the 1.848 billion shares worth N51.387 billion traded across 63,090 deals in the previous week. The Financial Services Industry dominated trading activity by volume, with 1.260 billion shares worth N27.817 billion traded across 29,800 deals, contributing 69.31 per cent of total equity turnover volume and 58.90 per cent of total value. The Consumer Goods Industry followed, recording 123.336 million shares worth N3.069 billion across 7,793 deals, while the Services Industry took third place with a turnover of 118.931 million shares valued at N832.602 million in 3,730 deals.
Among individual stocks, Zenith Bank Plc, Fidelity Bank Plc, and Access Holdings Plc were the most actively traded, accounting for a combined 451.558 million shares worth N13.583 billion across 10,055 deals. These three equities contributed 24.84 per cent to total equity turnover volume and 28.76 per cent to total market value.
A total of 30 equities appreciated in price during the week, an increase from 27 in the previous week. Meanwhile, 58 equities recorded price declines, slightly improving from 60 in the prior week, while 62 equities remained unchanged, compared to 63 in the previous period. The highest percentage gain was recorded by Tantalizers Plc, which surged by 36.32 per cent, followed by UH Real Estate Investment Trust, which gained 28.59 per cent. Livestock Feeds Plc also saw an increase of 12.38 per cent.
On the losing end, Eterna Plc experienced the steepest decline, shedding 18.69 per cent of its share price. Transnational Corporation Plc followed closely, losing 17.52 per cent, while FCMB Group Plc saw its share price drop by 14.15 per cent. The overall market performance reflected continued volatility, with investors closely monitoring economic and policy developments for potential market direction in the coming weeks.
