The Nigerian All-Share Index closed the week ending March 21, 2025, on a downward note, losing 992.17 points, as the premium index and all subsectors except consumer goods faced declines.
This reflects a 0.94% dip, with the index falling from 105,955.13 to 104,962.96, slipping below the critical 105,000-mark.
Trading activity also saw a sharp decline, with weekly volume falling from 3.2 billion shares to 2.9 billion, marking an 11.57% decrease.
Similarly, market capitalization fell from N66.7 trillion reported the previous week to N65.8 trillion, dipping below the N66 trillion threshold.
The market saw 32 equities record gains during the week, down from 38 the previous week. In contrast, 48 equities experienced price drops, an increase from 46 the week before.
Market overview
The Nigerian stock market experienced a significant downturn this past week, with most subsectors closing in the red.
All-Share began its decline on Monday, plummeting below the 105,000-mark by Wednesday. Although Thursday saw a slight dip, Friday offered only a modest recovery for the index.
Key highlights of the week
- The NGX Premium Index dropped by 0.90%, largely due to sharp declines of over 4% in FIRSTHOLD, ACCESSCORP, and ZENITHBANK.
- The NGX 30 Index fell by 0.85%, and the NGX Main Board Index decreased by 0.96%.
Sectoral indices
- The NGX Consumer Goods Index was the only sector to record gains, climbing by 0.06%, primarily driven by a 9.99% increase in NIG. FLOUR MILLS PLC
- In contrast, the NGX Industrial Goods Index fell by 3.39%, significantly impacted by a 10.00% drop in BUA CEMENT PLC.
- The Insurance Index experienced a decline of 2.87%, with UNIVERSAL INSURANCE PLC and SOVEREIGN TRUST INSURANCE PLC both dropping more than 9%.
- The Banking Index slipped by 2.55%, as FCMB, FIRSTHOLD, ACCESSCORP, and ZENITHBANK each declined by over 4%.
- Meanwhile, the NGX Oil and Gas Index decreased by 1.08%.
Top gainers
Leading the charge among gainers was NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, which climbed by 20.48% week-to-date, followed by LINKAGE ASSURANCE PLC at 13.49%. Other notable gainers included:
- NIG. FLOUR MILLS PLC: up 9.99%, N79.80
- ACADEMY PRESS PLC: up 9.92%, N2.88
- MUTUAL BENEFITS ASSURANCE PLC: up 9.84%, N0.67
- JULIUS BERGER NIG. PLC: up 8.47%, N137.00
- TRANSCORP HOTELS PLC: up 7.85%, N136.00
- CUSTODIAN INVESTMENT PLC: up 6.63%, N20.90
- VERITAS KAPITAL ASSURANCE PLC: up 6.36%, N1.17
- NASCON ALLIED INDUSTRIES PLC: up 6.02%, N44.00
Top Losers
On the losers’ table was E-TRANZACT INTERNATIONAL PLC, which declined by 26.15% week-to-date, followed by LIVESTOCK FEEDS PLC at 17.55%. Other notable losers included:
- RED STAR EXPRESS PLC: down 16.90%, N4.82
- UNIVERSAL INSURANCE PLC: down 13.33%, N0.52
- CAVERTON OFFSHORE SUPPORT GRP PLC: down 13.00%, N2.61
- SECURE ELECTRONIC TECHNOLOGY PLC: down 12.12%, N0.58
- BUA CEMENT PLC: down 10.00%, N83.70
- LEARN AFRICA PLC: down 9.85%, N3.02
- SOVEREIGN TRUST INSURANCE PLC: down 9.71%, N0.93
- ROYAL EXCHANGE PLC: down 9.09%, N0.80
Corporate actions overview
This week featured several noteworthy corporate announcements:
- Mutual Benefits Assurance Plc released its Q3 Financial Statement for 2024.
- CWG PLC published its Audited Financial Statement for the year ended December 31, 2024.
- Nigerian Breweries PLC acquired the remaining 20% minority shares in Distell Wines and Spirits Nigeria Limited.
- Unity Bank PLC appointed Mr. Ebenezer Ademola Kolawole as the Acting Managing Director.
- Thomas Wyatt NIG. PLC released its Audited Financial Statement for the year ended March 31, 2024.
Market outlook
The All-Share Index is currently in a retracement phase, aiming to rebound toward the 105,000-barrier from which it previously dipped.
- A correction after consecutive declines could present investors with opportunities to enter at more favourable prices.
