Mutual Benefit Insurance led the top gainers chart on the Nigeria Exchange (NGX) with a 31.85% gain for the week. This was followed by TripleGee +30.23%, Sunu Assurance +23.8% and Mecure Industries +20.5%.
The NGX All-Share Index (NGX-ASI) fell by 0.77% week-on-week (WoW) to close at 144,628.20 points, bringing the year-to-date (YtD) gains to +40.52%.
Sector performance was broadly negative, with all indices except the insurance index closing in the red, as NGXINS advanced by +8.21% for the week while the NGX Industrial fell (-0.83% WoW), NGX Consumer Goods lost 0.94% WoW, NGX Oil and Gas Index (-1.42% WoW) and NGX Banking Index was down (-0.23% WoW).
Market breadth weakened to 1.00x from 1.78x in the previous week, indicating a broader spread of losers relative to gainers.
The decline was driven by profit-taking activities across several sectors, particularly in the insurance space like Custodian losing 7.29% WoW and Lafarge WAPCO down 5.15% WoW, as well as in strong counters such as Honeywell Flour, down 8.47% WoW and Dangote Sugar down 5.97% WoW.
Trading activity was mixed, as total traded volume rose by 10.51% to 8.53bn units (from 7.72bn units in the prior week), while total traded value fell by 24.27% WoW to N99.49bn compared to N131.38bn previous week.
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