Investors gain N320.84bn as equities market soars
Investors in the Nigerian equities market enjoyed a bullish run on the floor of the NGX following a profit making of N320.84bn in the just ended trading week.
The bourse recorded gains in four of the five trading days, losing on just one trading day.
The market capitalisation rose by N320.84 billion to N56.93 trillion from N56.44 trillion in the previous week.
Similarly, the All-Share Index (ASI) surged by +0.87 percent to close at 100,539.40 points from 99,671.28 points recorded the previous week.
The equities market got off to a positive start on Monday July 15, 2024 as investors gained N172bn at the end of the trading session.
The trend continued on Tuesday, July 16, 2024 as investors gained another N62bn.
The trend was however reversed on Wednesday, July 17, 2024 as investors recorded a loss of N24bn.
The equities market returned to positive note on Thursday, July 18, 2024 as investors lost N262bn at the end of trading session.
The equities market closed the week positively on Friday, July 19, 2024 as investors gained N20bn at the end of the trading session culminating in a total profit of N320.84bn for the just ended week.
In terms of volumes of transactions made, Finmal Finance company limited led the way with 1.199 billion volume of stocks valued at N2.997bn followed by VALM Valmon securities Ltd which traded a total of 403m equities valued at N2.667bn.
Cardinalstone securities Limited traded 390m volume of shares valued at N8.358bn.
The NGX Insurance Index dragged the bourse down by 4.86 percent while the NGX Pension Index pushed up the bourse by 1.11 percent.
Airtelafri recorded the biggest share price increase from N2,100 at the beginning of the week to N2, 200 gaining N100 followed by PRESCO which increased its share price from N369.00 to N383.00 gaining N14.00 in the process.
Ucap also increased its share price by N12. 50 from N28.40 to N40.55.
On the flip side, Vitafoam recorded the biggest decline in share prices losing N2.20 to close the week at N19.00 from the N21.20 it started the week on followed by NGX GROUP which shed N1.95 and ended the week on N21.35 from N23.30 at the start of the week. Vitafoam also shed N1.15 to close at N19.00 from N21.20 at the beginning of the week.
Meanwhile the Nigerian equities market ended the week’s trading with a N20 billion gain for investors on Friday.
This followed an increase in the share prices of stocks like SOVRENINS, CUSTODIAN, and NAHCO amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalisation increased to N56.92 trillion from N56.90 trillion posted by the bourse on Thursday.
The All-Share Index (ASI) increased to 100,539.40 from 100,503.21 recorded the previous day.
The market breadth was negative as 16 stocks advanced and 28 declined, while 71 others remained unchanged in 9,988 deals.
SOVRENINS, Custodian, and NAHCO led other gainers with 4.26%, 4.17%, and 3.41% growth in share price each to close at N0.49, N10.00, and N39.40 from the previous N0.47, N9.60, and N38.10 per share.
On the flip side, CUTIX, ABC TRANS, and TANTALIZER led other price decliners as they shed 8.55 percent, 8.33 percent, and 8.16 percent each to close at N5.99, N0.77, and N0.45 from the initial N6.55, N0.84, and N0.49 per share.
On the volume index, FCMB led trading with 114 million shares valued at N869 million in 218 deals followed by JAIZ BANK which traded 103 million shares valued at N224 million in 151 deals.
UCAP traded 56 million shares valued at N2.29 billion in 1480 deals.
On the value index, UCAP recorded the highest value for the day trading stocks worth N2.29 billion in 1480 deals followed by GTCO which traded equities worth N1.69 billion in 521 deals.
Zenith Bank traded stocks worth N1.09 billion in 569 deals.
