Investors gain N77bn as equities market wraps up subdued week

The Nigerian equities market wrapped up a relatively quiet trading week with a notable gain of N77.77 billion. Despite the subdued activity, the market managed to sustain positive momentum, reflecting investor confidence in select stocks.

This follows a gain of N294.96 billion the previous week.

The bourse recorded gains in three of the five trading sessions this week and ended up with a profit of N77.77 billion.

The market capitalisation increased from N59.21 trillion to N59.99 trillion.

Similarly, the All-Share Index (ASI) appreciated by 0.11 percent to close the week at 97,829.02 from 97,722.28 points recorded the previous week.

The Nigerian equities market began the week on Monday, November 18, 2024, with a profit as investors gained N15.27 billion at the end of the trading session.

The market closed on Tuesday, November 19, 2024, with a profit of N136.38 billion.

The bulls remained in the market as investors gained N166.64 billion at the end of the trading session on Wednesday, November 20, 2024.

On Thursday, November 21, 2024, investors lost N142.39 billion at the end of the trading session as the bears returned to the market snapping a run of four consecutive profit-making.

The market closed negative again on Friday, November 22, 2024, as investors lost N98.13 billion at the end of the trading session.

A total turnover of 1.952 billion shares worth N35.864 billion in 48,553 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.482 billion shares valued at N38.875 billion that exchanged hands last week in 44,795 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.041 billion shares valued at N16.207 billion traded in 21,099 deals; thus contributing 53.34 percent and 45.19 percent to the total equity turnover volume and value respectively. 

The Oil and Gas Industry followed with 273.407 million shares worth N6.717 billion in 5,489 deals. Third place was the Services Industry, with a turnover of 141.184 million shares worth N779.166 million in 3,072 deals.

Trading in the top three equities namely Japaul Gold and Ventures Plc, FBN Holdings Plc and Access Holdings Plc (measured by volume) accounted for 461.500 million shares worth N6.183 billion in 4,658 deals, contributing 23.64 percent and 17.24 percent to the total equity turnover volume and value respectively.

Fifty-two (52) equities appreciated in price during the week higher than thirty-nine (39) equities in the previous week. Thirty-three (33) equities depreciated in price lower than forty-six (46) in the previous week, while sixty-eight (68) equities remained unchanged, higher than sixty-seven (67) recorded in the previous week.

Eunisell Interlinked Plc recorded the biggest share price increase in percentage gaining 60.72 percent followed by Tantalizers Plc which increased its share price by 57.33 percent in the process.

John Holt Plc also increased its share price by 42.49 percent.

On the flip side, Mecure Industries Plc recorded the biggest decline in share prices by percentage shedding 18.53 percent followed by Multiverse Mining And Exploration Plc which shed 17.61 percent of its share prices.

PZ Cussons Nigeria Plc also knocked off 11.62 percent off its share prices.