News in brief:
– Agriculture and food consumer goods stocks on the NGX recorded steep losses last week, with Livestock Feeds Plc falling 12.23% and the sub-sectors shedding a combined 25% in value.
– The shortened trading week due to the Eid al-Adha holiday led to low liquidity, limiting gains and fueling a cautious market outlook.
Animal feed producer Livestock Feeds Plc experienced a sharp decline in its stock value last week, with its share price dropping by 12.23%, from ₦9.40 to ₦8.25, according to data from the Nigerian Exchange (NGX).
A broader analysis of stock prices across agriculture and food consumer goods companies showed that the sub-sectors underperformed, collectively shedding 25% in value.
Among the few bright spots, Dangote Sugar Refinery recorded a 2.50% gain in the finished food segment, while Ellah Lakes rose 4.62% in the agriculture category. This contrasts sharply with the previous week’s performance, during which both sub-sectors posted gains exceeding 31%, with only minimal losses recorded.
The Eid al-Adha holiday, which shortened the trading week, led to reduced market liquidity. As a result, many stock prices remained flat, and the limited gains were not sufficient to offset widespread losses.
Northern Nigeria Flour Mills (NNFM) saw its share price dip by 9.97%, marking a pause in its impressive rally that began in May 2025, when the price surged from ₦75 to a peak of ₦138.90, before settling at ₦125.05.
Other notable losers included FTN Cocoa Processors, down 6.61%, Honeywell Allied Industries with a 2.38% decline, and Nascon Allied Industries, which ended its four-week winning streak with a 0.92% loss.
Market analysts anticipate a continued cautious trading environment in the week ahead, especially as the June 12 public holiday will once again shorten the trading window. However, trading volumes are expected to normalise by mid-month, potentially providing a clearer picture of investor sentiment and sub-sector resilience.
In conclusion, while the Eid break temporarily muted market activity, the significant losses across key agricultural and consumer food stocks reflect broader investor hesitation amid macroeconomic uncertainties. As the market regains its rhythm, all eyes will be on whether these sectors can rebound or face deeper corrections in the weeks ahead.
