The Nigerian All-Share Index concluded the week ended April 4, 2025, on a downward note, decreasing by 148.75 points as price movements stalled.
This decline represents a weekly drop of 0.14%, bringing the index down to 105,511.89 from the previous week’s figure of 105,660.64, despite a slight gain in the banking sector.
Trading volume experienced a significant contraction, falling from 3.04 billion shares the prior week to 1.18 billion shares, a decline of 61%.
Market capitalization also took a hit, declining from N66.2 trillion to N66.1 trillion, as the index clung to the N66 trillion threshold.
- Throughout the week, 23 equities saw price appreciation, a decrease from the 43 equities that gained in the previous week.
- Conversely, 51 equities experienced price depreciation, up from 36 in the prior week.
Market overview
- During the week that ended April 4, 2025, market activity experienced a notable slowdown characterized by significantly reduced trading volumes.
- The index commenced trading on Wednesday following a public holiday on the first two days of the week, in negative territory.
- Although there was a slight rebound on Thursday, the index concluded Friday marginally lower than its opening.
Key highlights of the week
The NGX Premium Index experienced a decrease of 0.11%, primarily influenced by a 7% drop in FIRSTHOLD. Concurrently, WAPCO and UBA faced minor declines of 1.6% and 0.1%, respectively.
Notably, the NGX-Main Board Index followed suit, reflecting the same decline of 0.11%, while the NGX-Main 30 Index recorded a slight loss of 0.05%.
Sectoral Indices
- The NGX Insurance Index faced a sharp decline of 4.13%, driven by substantial losses in SUNU ASSURANCES, UNIVERSAL INSURANCE, CONSOLIDATED HALLMARK, and LASACO ASSURANCE, all of which fell by over 9%.
- Similarly, the NGX Oil & Gas sector slipped by 1.18%, largely attributed to a 13% drop in OANDO.
- The NGX Consumer Goods and NGX Industrial Goods indices also experienced declines of 0.91% and 0.22%, respectively.
In contrast, the NGX Banking Index rose by 0.22%, supported by a 5% gain in FIDELITY BANK. Moreover, ZENITHBANK, ACCESSCORP, and GTCO finished the week in slightly positive territory, contributing to the overall strength of the banking sector.
Top gainers
Leading the charge among gainers was VFD GROUP PLC, which soared by 20.76% week-to-date, followed by UNION DICON SALT PLC at 19.59%.
Other notable gainers included:
- AFRICA PRUDENTIAL PLC: up 15.71%, N15.10
- NIGERIAN EXCHANGE GROUP: up 11.90%, N32.45
- UPDC REAL ESTATE INVESTMENT TRUST: up 10.91%, N6.10
- DAAR COMMUNICATIONS PLC: up 10.00%, N0.66
- FIDSON HEALTHCARE PLC: up 7.76%, N19.45
- SMART PRODUCTS NIGERIA PLC: up 7.69%, N0.42
- TRANSCORP HOTELS PLC: up 7.13%, N145.00
- UPDC PLC: up 6.06%, N3.15
Top losers
On the losers’ table was U A C N PLC, which declined by 18.31% week-to-date, followed by SUNU ASSURANCES NIGERIA PLC at 13.38%.
Other notable losers included:
- UNIVERSAL INSURANCE PLC: down 13.33%, N0.52
- OANDO PLC: down 13.13%, N42.00
- CONSOLIDATED HALLMARK HOLDINGS PLC: down 12.85%, N3.12
- TANTALIZERS PLC: down 10.34%, N2.60
- LASACO ASSURANCE PLC: down 10.00%, N2.34
- P Z CUSSONS NIGERIA PLC: down 9.97%, N33.40
- UNIVERSITY PRESS PLC: down 9.95%, N3.89
- OMATEK VENTURES PLC: down 9.86%, N0.64
Corporate actions overview
This week witnessed a series of noteworthy corporate disclosures, particularly concerning financial results:
- ABC Transport Plc released its audited financial statements for the year that ended on December 31, 2024.
- SUNU Assurances Nigeria Plc also published its audited financial report for the same period.
- GTCO announced a final dividend for the fiscal year that ended on December 31, 2024.
- BUA Foods declared a dividend for the period that ended December 31, 2024.
- International Breweries released its audited financial results for 2024.
- VFD announced a final dividend for the year ending December 31, 2024.
- TotalEnergies published its audited financial statements for the period ended December 31, 2024.
Market outlook
The All-Share Index appears to be undergoing a correction as it rises above the 105,000 mark, from which it had previously declined.
Should the positive momentum in banking and other sectors persist, the index could potentially exceed the 106,000 mark in the forthcoming weeks.
