The Nigerian Exchange (NGX) sustained its bearish run last week as persistent profit-taking erased about N1.8 trillion from investors’ portfolios, even as trading activity strengthened significantly.
The benchmark NGX All-Share Index (ASI) declined by 2,808.68 points, or 1.21 per cent, to close at 229,240.34 points during the week ended July 3, 2026. Market capitalisation also fell by approximately N1.80 trillion to N147.10 trillion, while the market’s year-to-date return moderated to 47.31 per cent, reflecting cautious investor sentiment.
Data released by the Nigerian Exchange showed that investors traded 3.821 billion shares valued at N154.39 billion in 258,567 deals during the week, compared with 2.324 billion shares worth N134.49 billion exchanged in 249,328 deals the previous week. The figures indicate a notable increase in both trading volume and value despite the market’s overall decline.
The Financial Services industry remained the dominant driver of market activity, accounting for 2.33 billion shares worth N54.61 billion traded in 108,978 deals. The sector contributed 60.99 per cent of total trading volume and 35.37 per cent of total transaction value.
The Services industry ranked second with 509.47 million shares valued at N16.35 billion, while the Consumer Goods industry recorded 216.34 million shares worth N8.06 billion.
Sterling Financial Holdings Company Plc, Access Holdings Plc and Ikeja Hotel Plc emerged as the most actively traded stocks during the week, jointly accounting for 1.405 billion shares valued at N28.37 billion. The trio represented 36.78 per cent of the total volume traded and 18.37 per cent of the market’s total value.
Across the sectoral indices, losses were widespread. The NGX Premium Index led the decline with a 6.91 per cent drop, followed by the NGX Industrial Goods Index, which fell 4.93 per cent. The NGX Lotus II Index lost 4.73 per cent, while the NGX Consumer Goods Index shed 1.60 per cent. In contrast, the NGX Main Board Index bucked the trend, advancing 2.27 per cent.
Market breadth remained firmly negative as 57 listed equities recorded price declines against 22 gainers, while 67 stocks closed unchanged.
On the gainers’ chart, Airtel Africa Plc topped the list with a 21 per cent appreciation to close at N5,274.00 per share. Regency Assurance Plc rose 20.25 per cent, UPDC Plc gained 12.31 per cent, DAAR Communications Plc advanced 7.84 per cent, while SUNU Assurances Nigeria Plc appreciated by 7.50 per cent.
Conversely, International Energy Insurance Plc recorded the steepest decline, shedding 18.83 per cent. McNichols Plc fell 18.60 per cent, University Press Plc lost 17.54 per cent, R.T. Briscoe Plc declined 13.98 per cent, while UPDC Real Estate Investment Trust dropped 13.00 per cent.
Activity in the Exchange Traded Products (ETP) segment remained relatively modest, with investors trading 3.602 million units valued at N622.40 million across 6,081 deals. The bond market recorded transactions involving 171,214 units worth N180.18 million in 54 deals.
Meanwhile, the Exchange announced a number of corporate actions during the week. Abbey Mortgage Bank Plc officially adopted its new name, Abbey Bank Plc, while Deap Capital Management & Trust Plc completed its rebranding to Critical Minerals Financing Corp Plc. Trading also resumed in the shares of Fortis Global Insurance Plc following the completion of its share capital reconstruction.
