The local stock market ended the week with a 0.11% decline due to sluggish market momentum, causing investors to lose N39 billion.

Both the market capitalization and the Nigerian Exchange Limited All Share Index closed lower at N36.847 trillion and 67,324.59 points, respectively, compared to the previous week’s figures of N36.886 trillion and 67,395.74 basis points.

Nevertheless, the total trading volume reached 3.911 billion shares worth N30.38 billion in 38,536 deals, surpassing the previous week’s total of 2.933 billion shares valued at N47.45 billion traded in 44,654 deals.

The Financial Services Industry led the activity chart with 2.774 billion shares valued at N15.24 billion traded in 16,379 deals, contributing 70.92% and 50.17% to the total equity turnover volume and value, respectively.

The Oil and Gas Industry followed with 438.508 million shares worth N5.20 billion traded in 6,258 deals, while the ICT Industry recorded a turnover of 294.470 million shares valued at N4.447 billion in 3,078 deals.

The top three equities traded in the review period were Universal Insurance Plc, Oando Plc, and United Bank for Africa Plc, accounting for 2.212 billion shares worth N8.91 billion in 7,593 deals, contributing 56.56% and 29.32% to the total equity turnover volume and value, respectively.

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During the week, the Insurance sector emerged as the top gainer with a 3.34% week-on-week increase, followed by the Consumer goods sector (+2.98%), Banking sector (+0.61%), and the Oil & Gas sectors (+0.56%).

Conversely, the Industrial Goods sector experienced a 4.80% week-on-week decline due to a price decrease in Dangote Cement.

Other indices that depreciated in value during the week were NGX 30, NGX Premium, NGX AFR Div Yield, NGX Lotus ll, NGX Industrial Goods, NGX Growth, and NGX Pension Broad, which fell by 0.13%, 3.45%, 1.72%, 0.12%, 0.36%, and 0.14%, respectively, while the NGX ASeM index remained unchanged.

Gainers included Sunu Assurances, whose share price increased by 32.91% to N1.05, Ellah Lakes Plc, which appreciated by 28.79% to N3.30, E-Tranzact International Plc, up 28.57% to N9.45 per share, Chams Holdings, with shares rising by 19.09% to N1.31, and Abbey Mortgage Bank Plc, which gained 17.65% to close at N2 per share.

On the losers’ side, Tantalizers led with a 21.05% drop to close at N0.30, Guinea Insurance lost 20.69% in its share value to close at N0.23, McNichols fell by 13.33% to close at N0.65, Unity Bank Plc’s share lost 11.29% in value to close at N1.10, and Secure Electronic Technology’s shares depreciated by 10.34% to close the week at N0.26.

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Analysts anticipate mixed sentiments in the market this week, with positive momentum counterbalanced by profit-taking activities.

They suggest that uncertainty in the market may increase due to half-year earnings reports from Access Holdings, and investors may continue portfolio reshuffling in preparation for the quarter-end reporting season.