Investors gain N49.53bn as equities market experiences mixed sessions in one week
Investors in Nigerian equities market experienced a mixed trading week gaining N49.53 billion on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation increased to N56.08tr from N56.03 trillion.
This follows a loss of N539.09 billion in the previous week.
The bourse recorded gains in two of the five trading days of the week.
The market capitalisation appreciated to N56.08 trillion from N56.03 trillion from the previous week.
Similarly, the All-Share Index (ASI) appreciated by 0.09 percent to close the week at 97,606.63 from 97,520.54 points the previous week.
Nigerian equities market began the week on Monday October 7, 2024 with profit making as investors gained N107.03bn at the end of trading session.
The market closed on Tuesday, October 8, 2024 with a loss of N70.04bn.
The equities market also closed the trading session with a loss as investors lost N56.12 billion at the end of trading session on Wednesday October 9, 2024.
The bears continued to ravage the equities market on Thursday October 10, 2024 as investors lost N5.72bn at the end of trading session.
Investors enjoyed a reprieve on Friday, October 4, 2024 as investors gained N74.38bn at the end of trading session.
Meanwhile, a total turnover of 2.966 billion shares worth N31.508 billion in 42,482 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.872 billion shares valued at N132.811 billion that exchanged hands last week in 39,867 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.485 billion shares valued at N17.965 billion traded in 19,613 deals; thus contributing 50.05 percent and 57.02 percent to the total equity turnover volume and value respectively.
The Services Industry followed with 1.108 billion shares worth N775.258 million in 2,675 deals.
Third place was the Agriculture Industry, with a turnover of 93.904 million shares worth N1.250 billion in 2,517 deals.
Trading in the top three equities namely Tantalizer Plc, Coronation Insurance Plc and Fidelity Bank Plc (measured by volume) accounted for 1.625 billion shares worth N3.908 billion in 1,814 deals, contributing 54.80 percent and 12.40 percent to the total equity turnover volume and value respectively. Mecure Industries Plc recorded the biggest share price increase percentage gaining 19.53 percent followed by University Press Plc. which increased its share price by 17.51 percent in the process.
Lasaco Assurance Plc also increased its share price by 17.39 percent.
On the flip side, Tripple Gee And Company Plc recorded the biggest decline in share prices by percentage shedding 59.56 percent followed by Daar Communications Plc which shed 25.00 percent of its share prices. Africa Prudential Plc also shed 25.00 percent off its share prices.
