Weekly Market Wrap: All-Share Index falls 1.19% as Premium, other sub-sectors decline 

This marks the second consecutive week of decline, reflecting a 1.19% drop from its opening value of 107,821.39 as the index slipped below the 107,000-mark.

Trading volume also fell by 1.61%, decreasing from 1.84 billion shares the previous week to 1.81 billion.

Market capitalization witnessed a notable decline, dropping from N67.1 trillion at the week’s start to N66.7 trillion by its end.

Despite the overall downturn, thirty equities saw price increases, surpassing the twenty-seven that gained the previous week. On the contrary, fifty-eight equities experienced price drops, a slight decrease from sixty in the prior week.

The Nigerian stock market experienced a downward spiral over the past week, with all sub-sectors, except for the Commodity Index, closing in the red.

All-Share saw consecutive declines from Monday to Wednesday but managed a slight uptick on Thursday before resuming its downward trajectory on Friday.

The NGX Premium Index declined by 1.06%, coinciding with over a 3% drop in ACCESSCORP, MTNN, and FBNH, alongside a 1.14% decrease in ZENITHBANK.

Leading the charge among gainers was TANTALIZERS PLC, which climbed by 36.32% week-to-date, followed by UH REAL ESTATE INVESTMENT TRUST at 28.59%. Other notable gainers included:

On the losers’ table was ETERNA PLC, which declined by 18.69% week-to-date, followed by TRANSNATIONAL CORPORATION PLC at 17.72%. Other notable losers included:

This week featured several noteworthy corporate announcements:

The All-Share Index appears to be entering a retracement phase, having declined during the first trading week of March and slipping below the 107,000-threshold.