Investors lose N185bn as equities market endures bearish week

Investors in the Nigerian equities market endured a bearish week that culminated in a weekly loss of N185.59 billion on the trading floor.

This follows a gain of N77.77 billion the previous week.

The bourse recorded losses in three of the five trading sessions this week and ended up with a decline of N185.59 billion.

The market capitalization decreased from N59.11 trillion to N59.29 trillion.

Similarly, the All-Share Index (ASI) depreciated by 0.33% to close the week at 97,506.87 points from 97,830.43 points recorded the previous week.

The Nigerian equities market began the week on Monday, November 25, 2024, with a loss as investors lost N123.74 billion at the end of the trading session.

The market closed on Tuesday, November 26, 2024, with a profit of N8.25 billion.

The bears returned to the market as investors lost N208.07 billion at the end of the trading session on Wednesday, November 27, 2024.

Reprieve came the way of investors on Thursday, November 28, 2024 as investors gained N305.85 billion at the end of the trading session.

The market closed negative again on Friday, November 29, 2024, as investors lost N167.88 billion at the end of the trading session.

The Financial Service industry led the activity chart, with 1.51bn shares valued at N26.90bn traded in 20,357 deals.

Investors traded a total turnover of 3.19bn shares worth N54.85bn in 45,112 deals this week, compared to 1.95bn shares worth N35.86bn that exchanged hands last week in 48,553 deals.

Conoil Plc recorded the biggest share price increase gaining N17 to move from N259.00 to NN276:00 followed by Oando Plc which increased its share price by N4.05 to move from N60.90 to N64.95 in the process.

NASCON Plc also increased its share price by N3.75.

On the flip side, Aradel Plc recorded the biggest decline in share prices shedding N8.80 followed by Eterna Plc which shed N4 of its share prices.

Guinness Nigeria Plc also knocked off N3:00 off its share prices.