The Nigerian All-Share Index fell by 583.47 points to close at 105,955.13 in the second week of March 2025, despite slight gains in the insurance and consumer goods sectors.
This marks the third consecutive week of decline, reflecting a 0.55% decrease from its opening value of 106,538.60 as the index fell below the 106,000 mark.
Weekly trading volume surged to 3.2 billion shares, an impressive increase of 80.45% from the 1.8 billion shares traded the previous week.
However, market capitalization fell, slipping from N66.7 trillion at the week’s start to N66.3 trillion, as the index clung to the N66 trillion threshold.
During the week, thirty-eight equities appreciated in price, an increase from thirty in the previous week, while forty-six equities depreciated, marking a decrease from fifty-eight the prior week.
The Nigerian stock market faced a decline over the past week, with the oil and gas, industrial goods, and banking sectors all ending in the red.
The All-Share Index saw a downturn on Monday that intensified on Tuesday, with Wednesday also closing slightly lower. Although the index staged a recovery on Thursday, it ultimately declined again on Friday, slipping below the 106,000 threshold.
The NGX Premium Index decreased by 1.45%, driven down by losses in MTN, UBA, and FIRSTHOLD, with each falling by more than 2%. Meanwhile, WAPCO and ACCESSCORP experienced minimal declines.
Leading the charge among gainers was LIVESTOCK FEEDS PLC, which climbed by 22.16% week-to-date, followed by CAVERTON OFFSHORE SUPPORT GROUP PLC at 15.38%. Other notable gainers included:
On the losers’ table was NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, which declined by 17.00% week-to-date, followed by MECURE INDUSTRIES PLC at 10.36%. Other notable losers included:
This week featured several noteworthy corporate announcements.
The All-Share Index appears to be entering a retracement phase, having dipped below the 106,000 threshold.
Given the increased market activity and if the market is not overbought, a rally could be expected in the coming weeks.