Equities Market Records ₦85.40bn Turnover, NGX Lists Additional 270,382 Units Of NIDF

Trading activity on the Nigerian Exchange (NGX) closed lower last week as investors exchanged 3.199 billion shares valued at ₦85.399bn across 142,477 deals.

This represented a decline compared to the previous week’s 4.773 billion shares worth ₦107.43bn traded in 152,965 deals, pointing to weaker momentum in market participation.

The downturn in activity was mirrored in the performance of the broader market, as both the NGX All-Share Index (ASI) and market capitalisation depreciated by 0.50 per cent and 0.49 per cent to close the week at 140,295.50 basis points and ₦88.77trn, respectively.

Market breadth was equally negative, with all sectoral indices closing lower except the NGX AFR Div Yield Index, which appreciated by 0.94 per cent, while the NGX ASeM Index closed flat.

Sectoral performance showed that the Financial Services Industry dominated trading, accounting for 2.195 billion shares worth ₦42.69bn exchanged in 66,808 deals.

This translated to 68.61 per cent and 49.99 per cent of the total equity turnover volume and value, respectively, reinforcing the sector’s traditional dominance on the Exchange.

The consumer goods industry followed, recording 277.881 million shares worth ₦9.91bn traded in 15,518 deals. The services industry ranked third with a turnover of 178.992 million shares valued at ₦1.308bn in 7,580 deals.

Market data further revealed that FCMB Group Plc, Champion Breweries Plc, and Access Holdings Plc were the most actively traded equities by volume. Combined, the three stocks accounted for 778.603 million shares worth ₦13.16bn in 11,288 deals.

This represented 24.34 per cent of the total equity turnover volume and 15.40 per cent of the market’s total value during the week, underscoring concentrated investor interest in a few key counters.

Investor sentiment, however, leaned bearish as price performance indicators showed a contraction in the number of gainers compared to the previous week.

Thirty-two equities appreciated in price, lower than the forty-three recorded a week earlier, while fifty-seven equities declined, higher than the fifty-four recorded in the preceding week.

A further fifty-seven equities closed flat, compared with forty-nine in the previous week, reflecting a more cautious trading atmosphere.

Market analysts noted that the moderation in activity and the dip in market indices reflected investors’ cautious stance amid ongoing macroeconomic uncertainties and weak liquidity conditions.

While the dominance of financial stocks provided some measure of stability, the overall decline in market breadth signals a continuation of short-term volatility in the equities market.

This is just as the Nigerian Exchange Limited (NGX) has announced the listing of an additional 270,382 units of the Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) on its Daily Official List.

According to NGX, in its report seen by THE WHISTLER, units were admitted to the market following the Fund’s Q2 2025 Scrip Dividend issuance.

With this new listing, the total units of the NIDF in circulation have risen from 1,055,744,147 units to 1,056,014,529 units. The development reflects the fund’s policy of rewarding investors through scrip dividends, which allow unitholders to receive additional units instead of cash payouts.

Nigeria Infrastructure Debt Fund has reported a profit of N11.79bn for the half year ended June 30, 2025, reflecting a strong 41 per cent increase from the N8.34bn recorded in the corresponding period of 2024.

This was disclosed in its Half Year 2025 Investor Report published on the Nigerian Exchange Limited on Wednesday.

According to the unaudited financial statements, the profit was driven by an interest income of N10.94bn generated from its infrastructure loan portfolio, alongside N379.7m in net fair value gains and N1.51bn in other income, bringing total income for the period to N12.83bn.

Operating expenses stood at N1.05bn, down slightly from the N1.12bn recorded in the same period last year, contributing to a healthy bottom line and efficient cost management.

During the period under review, the Fund announced an N5.20 per unit distribution for the second quarter, fully funded by its operational cash flows. The distribution, announced on July 9, 2025, has a qualification date of July 2 and will be paid to eligible unitholders on August 1, 2025.

The distribution yield currently stands at 21.85 per cent, maintaining NIDF’s reputation as a consistent and high-yielding investment option.

NIDF’s net asset value rose to N114.39bn, with total assets increasing to N121.13bn, up from N120.74bn at the end of December 2024. The fund currently has 1.05 billion units in issue and a last traded unit price of N118, translating to a market value of N124.58bn.

The Fund Manager, Chapel Hill Denham, confirmed that the Securities and Exchange Commission had approved the launch of Series 11 of the fund’s capital raise programme, under which NIDF seeks to raise N40.08bn to deepen its investment in infrastructure projects.

The Nigeria Infrastructure Debt Fund, managed by Chapel Hill Denham, is the first listed infrastructure debt fund in Nigeria and Africa. It provides investors with access to long-term infrastructure financing opportunities while offering stable returns.

Since its inception, the Fund has focused on financing key infrastructure projects across sectors such as power, transport, and energy, thereby playing a critical role in bridging Nigeria’s infrastructure financing gap.

Market analysts say the additional listing underscores continued investor confidence in the fund’s performance and long-term growth potential.

They add that infrastructure funds such as NIDF remain vital in mobilising private sector capital for critical national projects, especially at a time when the government faces fiscal pressures.

The NGX noted that the admission of the new units is in line with its commitment to deepening Nigeria’s capital market by supporting innovative products that channel investments into productive sectors of the economy.

Equities Market Records ₦85.40bn Turnover, NGX Lists Additional 270,382 Units Of NIDF is first published on The Whistler Newspaper