The Nigerian equities market has had a strong performance, with investors gaining a substantial N1.061 trillion on the Nigerian Exchange (NGX) during the just-concluded trading week. This follows a gain of N707.61 billion in the previous week.
The bourse recorded gains in four out of the five trading sessions this week, ultimately closing with a profit of N1.061 trillion. Market capitalization increased to N61.303 trillion, up from N60.242 trillion the previous week.
Similarly, the All-Share Index (ASI) rose by 1.76%, closing the week at 101,129.09, up from 99,378.06 points recorded the previous week.
The Nigerian equities market began the week on Monday, December 16, 2024, with a profit of N330.24 billion at the end of the trading session. The market continued its positive trend on Tuesday, December 17, 2024, closing with a profit of N77.78 billion.
On Wednesday, December 18, 2024, the bulls continued their dominance, with investors gaining N258.56 billion. The market saw even greater gains on Thursday, December 19, 2024, when investors gained N467.11 billion. However, on Friday, December 20, 2024, the market closed negative, snapping an eight-day streak of profits, with investors losing N72.09 billion by the end of the trading session.
This week, a total turnover of 2.536 billion shares worth N91.382 billion was traded across 51,406 deals, compared to 2.729 billion shares valued at N49.845 billion that exchanged hands in 43,298 deals the previous week.
The Financial Services Industry (measured by volume) led the activity chart, with 1.680 billion shares valued at N23.486 billion traded in 22,766 deals, contributing 66.24% of the total equity turnover volume and 25.70% of the total equity turnover value.
The ICT industry followed with 201.287 million shares worth N3.155 billion traded in 2,840 deals. In third place was the Services Industry, with 182.275 million shares worth N7.961 billion traded in 3,019 deals.
Trading in the top three equities—Sterling Financial Holdings Company Plc, Wema Bank Plc, and E-Tranzact International Plc (measured by volume)—accounted for 623.895 million shares worth N3.981 billion in 1,544 deals, contributing 24.61% of the total equity turnover volume and 4.36% of the total equity turnover value.
A total of 61 equities appreciated in price during the week, up from 51 in the previous week. Meanwhile, 26 equities depreciated in price, down from 35 the previous week, while 66 equities remained unchanged, a decrease from the 67 recorded the previous week.
MRS Oil Nigeria Plc saw the biggest share price increase in percentage, gaining 36.36%, followed by Eterna Plc, which saw a 32.36% increase. Honeywell Flour Mill Plc also saw a notable increase of 31.52%.
On the other hand, John Holt Plc experienced the largest decline in share prices, shedding 18.67%, followed by Multiverse Mining and Exploration Plc, which lost 18.58% of its share price. University Press Plc also saw a decline of 16.27%.