The Nigerian All-Share Index closed the week ended April 11, 2025, on a negative note, declining by 948.55 points as several large-cap stocks within the premium index ended the week in the red.
This reduction marks a weekly drop of 0.90%, bringing the index to 104,563.34, down from last week’s 105,511.89 and below the key 105,000 level.
Despite the decline, trading volume surged to 2.09 billion shares, a 77% increase from the 1.18 billion shares exchanged the previous week.
Less favourably, market capitalization declined significantly, dropping from N66.1 trillion to N65.7 trillion as the index fell below the N66 trillion mark.
Over the week, 27 equities recorded price appreciation, an increase from the 23 equities that had gained value the previous week. In contrast, 56 equities faced price depreciation, rising from 51 in the week before.
Market overview
During the week ended April 11, 2025, market activity increased, with market volume soaring by 77% to 2.09 billion shares from the previous week’s 1.18 billion shares.
- All-Share suffered a substantial decrease of 1,295.02 index points on Monday.
- While Tuesday ended positively, Wednesday saw a downturn for the index.
- All-Share recorded its highest gain on Thursday, only to return to negative territory on Friday.
Key highlights of the week
The NGX Premium Index experienced a decrease of 1.53%, primarily driven by a drop of over 9% in ACCESSCORP. Concurrently, UBA, MTNN, and FIRSTHOLD also faced declines of over 3%.
Notably, the NGX-Main Board Index reflected a similar trend, declining by 0.56%, while the NGX-Main 30 Index recorded a loss of 1.00%.
Sectoral indices
- The NGX Insurance Index was notably impacted, facing a sharp decline of 4.57% due to substantial losses in CORNERSTONE INSURANCE PLC, SOVEREIGN TRUST INSURANCE, and LASACO ASSURANCE, all of which dropped by over 12%.
- Similarly, the NGX Banking Index slipped by 2.20%, with five banks, led by ACCESSCORP, ETI, and UBA, closing in the red.
- Additionally, the NGX Consumer Goods and NGX Industrial Goods indices experienced declines of 0.61% and 0.26%, respectively, while the NGX Oil & Gas index fell by 0.50%.
Top gainers
Leading the charge among gainers was VFD GROUP PLC, which soared by 53.86% week-to-date, followed by UNION DICON SALT PLC at 31.03%. Other notable gainers included:
- ABBEY MORTGAGE BANK PLC: up 29.60%, N6.13
- FTN COCOA PROCESSORS PLC: up 18.75%, N1.90
- TOTALENERGIES MARKETING NIGERIA PLC: up 9.61%, N745
- INTERNATIONAL ENERGY INSURANCE PLC: up 9.33%, N1.64
- LIVESTOCK FEEDS PLC: up 7.83%, N8.54
- THE INITIATES PLC: up 6.62%, N4.35
- NIGERIAN EXCHANGE GROUP: up 6.16%, N34.45
- JAPAUL GOLD & VENTURES: up 5.79%, N2.01
Top losers
On the losers’ table was ROYAL EXCHANGE PLC, which declined by 20.79% week-to-date, followed by CORNERSTONE INSURANCE PLC at 15.15%. Other notable losers included:
- SOVEREIGN TRUST INSURANCE PLC: down 15.00%, N0.85
- LASACO ASSURANCE PLC: down 12.82%, N2.04
- CAP PLC: down 11.70%, N41.50
- RT BRISCOE PLC: down 11.67%, N2.12
- MAY & BAKER NIGERIA PLC: down 10.83%, N7.00
- ASSOCIATED BUS COMPANY PLC: down 10.00%, N1.26
- HALDANE MCCALL: down 10.00%, N5.22
- UH REAL ESTATE INVESTMENT TRUST: down 9.95%, N46.15
Corporate announcement
This week, the corporate landscape was vibrant with significant announcements:
- SCOA Nigeria Plc published its audited financial statement for the year ended December 31, 2024.
- Presco PLC published its audited financial statement for the same period.
- Wema Bank PLC announced a rights issue.
- Geregu Power PLC released its financial statement for the first quarter of 2025.
Market outlook
The All-Share Index remains in a retracement phase, positioned below the critical 105,000 mark. Nevertheless, the potential recovery of large- and mid-cap stocks may contribute to the stabilization of the index in the coming weeks.
