The local bourse extended its bearish run for another week as investors reacted negatively to the latest worsening inflation data amid lingering concerns over the potential adverse effects of President Trump’s new tariffs.
The two key metrics that measure stock performance and price movements at the Nigerian Exchange Limited (NGX) were in the red before the Federal Government declared Friday a Friday 18th April and Monday 21 of April 2025 as public holidays to commemorate 2025 Easter celebration.
Market capitalisation lost N208 billion as the net worth of stock portfolios at the market moderated to N65.499 trillion while the All-Share Index (ASI) lost 0.32% or shed 329.53 points to close lower at 104,233.81 basis points.
Trading data showed that the market downturn was largely driven by profit-taking activities in ZENITHBANK (-4.2%), GTCO (-3.1%), NESTLE (-2.0%) and FIRSTHOLDCO (-1.6%). As a result, the MTD and YTD returns printed -3.3% and +1.3%, respectively.
Trading activity was relatively weaker, following a 37.31% decrease in the total trading volume and a 18.81% drop in trading value.
Across sectors, the Banking (-5.4%) and Insurance (-2.3%) indices declined while the Consumer Goods (+2.4%) and Oil and Gas (+0.2%) indices advanced. The Industrial Goods index closed flat.
Trading statistics revealed that a total turnover of 1.525 billion shares worth N43.006 billion in 51,156 deals was traded during the week by investors on the floor of the Exchange, in contrast to a total of 2.094 billion shares valued at N52.967 billion that exchanged hands the preceding week in 64,612 deals.
In terms of volume traded, the financial services led the activity chart with 1.122 billion shares valued at N24.015 billion traded in 28,818 deals; thus contributing 73.56% and 55.84% to the total equity turnover volume and value respectively.
The ICT industry followed with 101.252 million shares worth N 4.819 billion in 2,541 deals while the place was the Services Industry, with a turnover of 99.776 million shares worth N1.230 billion in 3,063 deals.
Trading in the top three equities namely Access Holdings Plc, Fidelity Bank Plc and Universal Insurance Plc (measured by volume) accounted for 448.105 million shares worth N6.730 billion in 6,481 deals, contributing 29.39% and 15.65% to the total equity turnover volume and value respectively.
