…All-Share Index declined 1.21% on a weekly basis to close at 229,240.34 points
…Market capitalisation fell by the same margin to N147.10 trillion.
SAT JULY 04 2026-theGBJournal| Nigeria’s equities market closed the week lower as investors locked in gains across heavyweight banking and telecommunications stocks, dragging the benchmark index lower despite a sharp rebound in Friday’s trading led by buying in telecom, banking and energy shares.
While the market recovered strongly in the final session of the week, the advance was insufficient to reverse earlier losses, underscoring continued volatility as investors rebalance portfolios after an extended rally that has kept the market among Africa’s best-performing bourses this year.
The Nigerian Exchange (NGX) All-Share Index declined 1.21% on a weekly basis to close at 229,240.34 points, while market capitalisation fell by the same margin to N147.10 trillion.
The decline reduced the market’s year-to-date return to 47.31%, down from 49.12% recorded a week earlier.
The week’s losses were largely driven by sustained profit-taking in several of the market’s largest capitalised stocks.
MTN Nigeria shed 9.64% during the week, while Guaranty Trust Holding Company lost 5.43%.
Access Holdings declined 1.53%, Zenith Bank fell 7.13%, and First HoldCo dropped 9.09%, more than offsetting gains in Airtel Africa, which surged 21.00%, alongside advances in United Bank for Africa, Dangote Sugar Refinery, Chams Holding Company and Oando.
Investor sentiment improved significantly during Friday’s session, with bargain hunting lifting the benchmark index by 2.19% to 229,240.34 points, while market capitalisation climbed to N147.10 trillion.
The recovery was powered by strong gains in Airtel Africa, which advanced 10.00%, United Bank for Africa, up 8.18%, Oando, which gained 9.96%, and FCMB Group, which rose 8.29%.
These gains outweighed declines in Meyer, which lost 9.95%, Veritas Kapital Assurance, down 5.07%, and Fidelity Bank, which slipped 2.17%.
Despite the market’s rebound, overall trading activity weakened considerably.
Total volume traded fell 51.52% to 414.72 million shares, while the value of transactions declined 11.68% to N25.10 billion, indicating that Friday’s rally occurred on relatively lighter participation.
TIP Plc emerged as the most actively traded stock by volume, with 49.31 million shares changing hands, while MTN Nigeria recorded the highest value of trades at N4.14 billion.
Market breadth remained firmly positive, with 36 stocks advancing against 18 decliners, translating to a gainers-to-losers ratio of 2.15. TIP Plc led the gainers with a 10.00% increase, while International Energy Insurance recorded the steepest decline, falling 9.96%.
Outside the main exchange, the NASD Over-the-Counter Securities Exchange also ended the week on a positive note.
The NASD Security Index rose 1.38% to 4,307.26 points, lifting total market capitalisation by the same margin to N2.58 trillion.
The advance pushed the OTC market’s year-to-date return to 21.55%.
Trading activity on the NASD strengthened sharply, with transaction volume jumping 303.68% and the value of trades surging 1,431.16% compared with the previous session, reflecting renewed investor interest in unlisted securities.
SD11 Plc led the OTC market’s gainers with a 9.09% rise, while the session ended without any declining stocks, highlighting broad-based positive sentiment across the alternative trading platform.
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