Equities Market Kicks Off Trading Week Bearish

On Feb 24, 2025

The Nigerian Exchange Limited began the trading of equities for this week on a negative note with the benchmark index declining by 0.34% driven by losses in TRANSNATIONAL CORPORATION PLC and FBN HOLDINGS PLC.

At the close of transactions, the All-Share Index declined by 0.34% or 370.43 basis points to settle at 108,126.97 basis points from 108,497.40 basis points.

Similarly, the market capitalisation fell by 0.34% or 230 billion Naira to 67,384 trillion Naira from 67,614 trillion Naira.

Sequentially, the month-to-date and year-to-date returns moderated to +3.5% and +5.1%, respectively.

The total volume traded increased by 13.31% to 357.76 million units of shares even as the value traded also increased by 10.16% to ₦9.21 billion, and exchanged in 15,914 deals where JAIZ BANK PLC was the most traded stock by volume at 48.19 million units, while ZENITH BANK PLC was the most traded stock by value at ₦1.37 billion.

As measured by market breadth, market sentiment was negative with 37 declining stocks outnumbering the 17 gainers.

The top on the loser’s table is N NIG. FLOUR MILLS PLC., a fall from a previous selling price of ₦80.60k per share to close at ₦72.55k per share, losing ₦8.05k or -9.99 per cent.

Next is EUNISELL INTERLINKED PLC closing the day at ₦10.85k per share from ₦12.05k per share, shedding -₦1.20k or -9.96 percent.

Trailed by SOVEREIGN TRUST INSURANCE PLC with a loss of -0.12k or -9.09 per cent to close at ₦1.20k per share as against Friday’s ₦1.32k per share.

Conversely, IKEJA HOTEL PLC topped the advancers, leading with ₦1.10k or 10.00 per cent gain to end the day at ₦12.10k per share in comparison to Friday’s ₦11.00.

UH REAL ESTATE INVESTMENT TRUST followed, advancing from ₦36.60k per share to ₦40.25k per share, by ₦3.65k or 9.97 percent.

And PZ CUSSONS NIGERIA PLC appreciated to ₦29.50k per share from ₦27.00 per share, gaining ₦2.50k or 9.26 per cent.

Sectoral performance was broadly negative, as the Banking (-1.4%), Insurance (-0.9%), Oil & Gas (-0.3%), Consumer Goods (-0.2%), and Industrial Goods (-0.1%) indices all settled lower.