The Nigerian equities market wrapped up the week ended August 22 in the red, as the All-Share Index dropped 3,624.06 points to close at 141,004.14.
Opening at 144,628.20, the index slipped by 2.51%, dragged down majorly by losses in cement giants DANGOTE CEMENT and BUA CEMENT.
Trading volume fell sharply, with 4.1 billion shares exchanged, down from 8.5 billion shares a week earlier.
Market capitalization also mirrored the downturn, sliding from N91.5 trillion to N89.2 trillion.
- Only 43 equities recorded price gains, fewer than the 50 that advanced in the prior week.
- Meanwhile, 54 equities declined, higher than the 49 losers previously, while 49 equities closed flat.
Market overview
The All-Share Index opened the week at 144,628.20, ending Monday slightly in the green.
The mood shifted from Tuesday as the index slipped to 142,613.47, extending its losses through Wednesday and Thursday, when it nearly broke below the 140,000 thresholds.
A mild rebound came on Friday, with the market staging a 671-point recovery, though not enough to offset earlier losses, leaving the index at 141,004.14 for the week.
Key highlights
The NGX Premium Index shed 4.31%, dragged by a 9.88% drop in DANGOTE CEMENT, alongside declines of under 5% in ACCESSCORP, ZENITH BANK, FIRSTHOLDCO, MTN NIGERIA, and LAFARGE AFRICA.
The NGX 30 Index mirrored the All-Share Index, losing 2.69%, while the NGX-Main Board Index dipped 1.51%.
Sectoral performance
- The NGX Industrial Goods Index recorded a decline of 8.42%, dragged by drops of over 9% in DANGOTE CEMENT and BUA CEMENT, and a 1.03% fall in LAFARGE AFRICA. Mid-cap stock CUTIX shed over 10%.
- NGX Insurance Index weakened by 4.17% as NEM INSURANCE, LASACO ASSURANCE, VERITAS KAPITAL ASSURANCE, and CORONATION INSURANCE all shed more than 11.00%.
- NGX Banking Index lost 3.48% on declines across the FUGAZ banks, while the NGX Oil & Gas Index slipped 0.84%.
- The only gainer was the NGX Consumer Goods Index, which edged up 0.83%.
Top gainers
Leading the pack was AUSTIN LAZ & COMPANY PLC, which soared 20.83% week-to-date, marking a standout performance. NCR (NIGERIA) PLC followed closely with a 20.69% gain.
Other major gainers included:
- Nigerian Enamelware Plc: up 19.45% to N39.00
- Guinea Insurance Plc: up 18.79% to N1.77
- Mutual Benefits Assurance Plc: up 14.29% to N4.40
- Caverton Offshore Support Group Plc: up 12.31% to N7.30
- Deap Capital Management & Trust Plc: up 11.80% to N1.80
- Multiverse Mining and Exploration Plc: up 11.22% to N10.90
- Daar Communications Plc: up 11.01% to N1.21
- Champion Breweries Plc: up 10.91% to N18.80
Top losers
On the flip side, THOMAS WYATT NIG. PLC led the laggards, shedding 18.92% week-to-date. NEM Insurance Plc followed with an 18.15% decline.
Other notable decliners were:
- Stanbic IBTC Holdings Plc: down 15.39% to N94.00
- Lasaco Assurance Plc: down 14.57% to N3.46
- R.T. Briscoe Plc: down 13.92% to N3.40
- Veritas Kapital Assurance Plc: down 12.78% to N1.98
- Royal Exchange Plc: down 12.45% to N2.25
- Coronation Insurance Plc: down 11.57% to N3.21
- Cutix Plc: down 11.25% to N3.55.
- The Initiates Plc: down 10.22% to N12.30
Corporate actions overview
The week featured a number of notable corporate disclosures and sector-wide developments:
- Prestige Assurance Plc released its financial statement for the second quarter of 2025.
- Champion Breweries Plc announced an agreement to acquire Bullet Energy Drink.
- UPDC Real Estate Investment Trust declared the distribution of its interim dividend.
- Presco Plc secured shareholder approval for a capital raise and dividend payments at its AGM.
Market outlook
The All-Share Index appears to be in the early stages of a pullback, which could deepen if bearish sentiment extends into the coming week.
On the other hand, if the rebound seen in Friday’s session gains momentum, the index could stage a recovery and reverse part of its recent losses.
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