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The NGX closed the week sharply lower as nine consecutive sessions of losses pushed the All-Share Index down 1.35% week-on-week to 239,351.16 points. Market capitalisation fell about ₦2.09 trillion during the week to ₦154.53 trillion, although the market remains strongly positive year-to-date.
Top Gainers
HMCALL: +9.97% VERITASKAP: +7.09% TANTALIZER: +5.26%
Top Losers
REDSTAREX: -10.00% INTENEGINS: -10.00% TRANSEXPR: -9.94%
Selling pressure was concentrated in several blue-chip and large-cap names, with Aradel, Oando, UBA and First HoldCo among stocks hit during the week.
Beyond the market decline, several developments investors are watching: MTN Nigeria's ₦546 billion shareholder payout, Airtel Africa's $65 million buyback, Emzor's ₦26.7 billion manufacturing funding, Oando's proposed foreign listing, and renewed interest in an NGX listing by major fintechs.
The key question next week is whether the prolonged correction attracts bargain hunters or whether profit-taking continues, particularly in the large-cap stocks that drove much of the market's earlier gains.
