The Nigerian All-Share Index closed the week ended April 17, 2025, on a downturn, recording a decline of 329.53 points as negative price action in the banking sector weighed on performance.
This decline, equivalent to a 0.32% decrease, lowered the index to 104,233.81 points, down from the previous week’s closing value of 104,563.34, despite slight gains in the Premium Index.
Alongside this drop, weekly trading volume saw a significant decline, falling by 27% from 2.09 billion shares in the previous week to 1.5 billion shares.
Market capitalization also experienced a noteworthy reduction, decreasing from N65.7 trillion to N65.4 trillion, as the index clung to the N65 trillion threshold.
Throughout the week, 31 equities appreciated, an increase from 27 equities the previous week. Conversely, 44 equities depreciated, down from 56, while 72 equities remained unchanged.
Market overview
During the week, market activity showed a clear downturn, with total trading volume declining by 27% to 1.5 billion shares compared to 2.09 billion shares in the preceding week.
- The All-Share Index began the week with a slight dip on Monday and continued to gain modestly on Tuesday.
- However, Wednesday saw a significant portion of the weekly decline, with the index slipping below the 104,000-mark before recovering slightly on Thursday.
- Trading was paused on Friday due to a public holiday.
Key highlights of the week
The NGX Premium Index experienced a modest increase of 0.57%, largely driven by a robust gain of over 7% in ACCESSCORP and MTNN.
In contrast, both the NGX-Main Board Index and the NGX 30 Index ended in negative territory, declining by 0.17% and 0.41%, respectively.
Sectoral indices
The NGX Banking Index faced significant challenges, declining sharply by 5.43%. This drop was primarily driven by substantial losses exceeding 10% in both GTCO and ZENITHBANK, along with losses of over 4% in STANBIC and UBA.
- Similarly, the NGX Insurance Index slipped by 2.34%, influenced by declines of more than 9% in INTERNATIONAL ENERGY INSURANCE and MUTUAL BENEFITS ASSURANCE.
- On a positive note, the NGX Consumer Goods Index rose by 2.33%, driven by an impressive gain of over 9.65% in UNILEVER NIGERIA.
- The NGX Oil and Gas sector saw a slight gain of 0.20%, while the NGX Industrial Goods Index remained unchanged at 0.00%.
Top gainers
Leading the charge among gainers was ABBEY MORTGAGE BANK PLC, which soared by 46.17% week-to-date, followed by NIGERIAN BREW. PLC at 13.13%. Other notable gainers included:
- ASSOCIATED BUS COMPANY PLC: up 12.70%, N1.42
- LIVESTOCK FEEDS PLC: up 11.24%, N9.50
- UNILEVER NIGERIA PLC: up 9.65%, N38.05
- VFD GROUP PLC: up 9.46%, N96.00
- ECOBANK TRANSNATIONAL INCORPORATED: up 8.94%, N29.25
- WEMA BANK PLC: up 8.64%, N11.95
- LEARN AFRICA PLC: up 8.33%, N3.25
- ACCESS HOLDINGS PLC: up 8.07%, N22.01
Top losers
On the losers’ table was GUARANTY TRUST HOLDING COMPANY PLC, which declined by 13.24% week-to-date, followed by ZENITH BANK PLC at 11.91%. Other notable losers included:
- DAAR COMMUNICATIONS PLC: down 11.11%, N0.56
- CAVERTON OFFSHORE SUPPORT GRP PLC: down 10.63%, N2.27
- R T BRISCOE PLC: down 10.38%, N1.90
- INDUSTRIAL & MEDICAL GASES NIGERIA PLC: down 10.00%, N34.20
- NIGER FLOUR MILLS PLC: down 9.97%, N79.00
- INTERNATIONAL ENERGY INSURANCE PLC: down 9.76%, N1.48
- MUTUAL BENEFITS ASSURANCE PLC: down 9.57%, N0.85
- C & I LEASING PLC: down 9.17%, N3.27
Corporate announcements
This week, the corporate landscape witnessed a series of significant announcements:
- DAAR COMMUNICATIONS PLC announced its audited financial statement for the year ended December 31, 2024.
- ACCESS HOLDINGS PLC revealed its audited financial statement for the same period, along with the declaration of a final dividend.
- NIGERIAN BREWERIES PLC released its Quarter 1 financial statement for 2025, providing insights into its early-year performance.
- FIRST HOLDCO PLC issued its Quarter 5 financial statement for 2024.
- UPDC PLC also published its Audited financial statement for 2024.
Market outlook
The All-Share Index is currently in a retracement phase, below the 105,000-mark. However, there are signs of improvement in some sectors, as bearish price movements are decreasing compared to the previous week, indicating a potential reversal in market sentiment.
- Expected recovery of large- and mid-cap stocks could help lift the index in the coming weeks, providing the support needed for a broader market recovery.
