NGX All-Share slips 0.97% as Livestock Feeds jumps 48% amid broad market losses
Nigerian equities closed lower for the second straight week, with the NGX All-Share Index falling 0.97% to 248,363.55 points from 250,808.27 points. Market capitalisation dropped by roughly N1.58 trillion to N161.26 trillion, trimming the year-to-date gain to 59.60% from 61.17% the prior week.
Livestock Feeds led gainers, surging 47.75% from N8.90 to N13.15, while Critical Minerals Financing Corp slumped 20.27% to N3.58 from N4.49. Trading activity totaled 2.715 billion shares worth N158.28 billion, with Financial Services accounting for 73.8% of volume and 52.4% of value. Sector performance was broadly negative: only the NGX Industrial Goods Index edged up 0.02%; Banking fell 2.64%, Oil/Gas dropped 3.85%, and Insurance reversed last week’s gain with a 1.74% decline.
Corporate actions included Guinea Insurance’s listing of over 6.3 billion new shares from a private placement, the NGX lifting the suspension on Multi-Trex Integrated Foods, and Sterling Financial Holdings’ relisting after a 1-for-10 share reconstruction at N77.00.
Analysts warn of persistent selling pressure and narrow breadth, suggesting the market may stay cautious. Bargain-hunting in fundamentally strong stocks could offer some relief, but performance is likely to remain stock-specific.
Given the mixed signals—sharp gains in a few stocks amid widespread losses—will you adjust your portfolio by holding cash, buying the dip in selected fundamentals, or wait for clearer market direction before committing new funds?