The Nigerian Exchange Limited (NGX) closed the week on a negative trend, shedding N439bn in market capitalisation as the All-Share Index fell by 0.50 per cent to 140,295.50 points. The financial services sector led trading activities, with FCMB Group Plc, Champion Breweries Plc, and Access Holdings Plc topping the list.

Equities on the NGX recorded a total loss of N439bn in market capitalisation as persistent bearish sentiment weighed down the All-Share Index and other indicators.

Data from the Exchange showed that market capitalisation dropped by 0.49 per cent, settling at N88.769tn from N89.208tn the previous week. Similarly, the All-Share Index declined from 141,002.76 points to 140,295.50 points.

According to the weekly market report, investors exchanged 3.199bn shares valued at N85.399bn in 142,477 deals. This marked a decline compared to the 4.773bn shares worth N107.426bn traded in 152,965 deals the preceding week.

The financial services industry maintained its dominance on the activity chart, with 2.195bn shares valued at N42.689bn in 66,808 deals, representing 68.61 per cent and 49.99 per cent of the total equity turnover volume and value, respectively. The Consumer Goods sector followed with 277.881m shares worth N9.910bn, while the Services industry ranked third with 178.992m shares valued at N1.308bn.

The three most traded equities by volume were FCMB Group Plc, Champion Breweries Plc, and Access Holdings Plc, accounting for 778.603m shares worth N13.155bn in 11,288 deals. Together, they contributed 24.34 per cent to total equity turnover volume and 15.40 per cent to value.

In the Exchange Traded Products segment, investors traded 202,506 units valued at N23.784m in 390 deals, down from 396,920 units worth N39.032m the previous week. In the bonds segment, 80,523 units valued at N74.045m were traded in 32 deals, compared with 58,537 units worth N58.768m exchanged the prior week.

During the week, 32 equities appreciated in price, fewer than the 43 recorded the week before. Meanwhile, 57 equities declined in value, higher than the 54 posted previously, while another 57 closed flat, up from 49.

On the gainers’ chart, McNichols Plc led with an 18.75 per cent rise, increasing from N3.20 to N3.80 per share. It was followed by NEM Insurance Plc, which appreciated by 17.29 per cent, moving from N26.60 to N31.20 per share. Berger Paints Plc advanced 15.31 per cent from N32.00 to N36.90 per share.

Other notable gainers included Coronation Insurance Plc, Learn Africa Plc, NCR (Nigeria) Plc, SFS Real Estate Investment Trust, Julius Berger Nigeria Plc, SCOA Nigeria Plc, and Beta Glass Plc.

Conversely, Secure Electronic Technology Plc led the losers’ chart with a 22.73 per cent drop from N1.10 to N0.85 per share. Guinea Insurance Plc fell by 19.77 per cent to N1.42, while Lasaco Assurance Plc shed 13.29 per cent to N3.00.

Other notable losers included University Press Plc, Mutual Benefits Assurance Plc, Royal Exchange Plc, Cornerstone Insurance Plc, John Holt Plc, Daar Communications Plc, and Associated Bus Company Plc.

Meanwhile, the NGX recorded new listings during the week. Chapel Hill Denham Nigeria Infrastructure Debt Fund added 270,382 units from its second-quarter scrip dividend, bringing the total units to 1,056,014,529. Coronation Asset Management Limited also listed 87.9m units of its Series 1 Coronation Infrastructure Fund, worth N8.79bn, under its N200bn programme with a 10-year tenor.

In addition, Industrial & Medical Gases Nigeria Plc commenced trading of its rights issue of 199,797,458 ordinary shares at N32.00 per share, on the basis of two new shares for every five held as of May 21, 2025. The offer opened on August 22 and will close on October 2, 2025.

The Exchange also announced supplementary listings of Federal Government bonds issued in May 2025. The 19.30 per cent FGN April 2029 bond increased from 935,637,140 units to 940,342,140 units, while the 19.89 per cent FGN May 2033 bond rose from 2,216,665,821 units to 2,512,654,476 units.

Market analysts attributed the downturn to profit-taking activities and cautious sentiment among investors amid persistent macroeconomic concerns. They, however, advised investors to focus on fundamentally strong stocks despite the bearish trend.