Weekly Market Wrap: All-Share Index slides 0.62% on declines in premium, oil & gas, and banking stocks 

This marks a 0.62% decline from the previous week’s close of 109,710.37, fueled by sell-offs in the premium board, oil & gas, and banking stocks.

Despite the dip in prices, the market held steady just above the 109,000 level, while trading activity gathered momentum, as total weekly volume soared 16.34% to 3.03 billion shares.

However, market capitalization took a hit, slipping to N68.7 trillion from N68.9 trillion the week before.

The Nigerian stock market saw a mixed performance during the week, with the All-Share Index (ASI) experiencing modest price action early on.

On the upside, the NGX Consumer Goods Index posted a 2.18% gain, powered by a strong 19.5% rally in NESTLÉ NIGERIA.

Leading the charge among gainers was CUTIX, which climbed 21.92% week-to-date, followed by CUSTODIAN INVESTMENT PLC at 21.45%. Other notable gainers included:

On the losers’ table, NEIMETH INTERNATIONAL PHARMACEUTICALS PLC led the decline with a 17.03% drop week-to-date, followed by ASSOCIATED BUS COMPANY PLC at 15.59%. Other notable losers included:

This week, the corporate landscape was vibrant with several key announcements that captured investor attention:

After reaching a peak above the 109,500 mark, the All-Share Index seems to be pulling back slightly as investors likely consider more attractive entry points in stocks that have been steadily climbing.

However, a renewed wave of buying interest in large and mid-cap stocks could fuel further upward momentum, potentially driving the index even higher in the coming sessions.