Investors make N146bn as equities market rebounds from previous losses on Friday

Investors in the Nigerian equities market recorded a mixed trading week on the floor of the NGX losing N2.45 billion as market capitalisation fell to N55.12 trillion from N55.13 trillion the previous week.

This follows a loss of N846 billion in the previous week.

The bourse recorded losses in two of the five trading days of the week.

The market capitalisation decreased by N2.45 billion as market capitalisation fell to N55.12 trillion from N55.13 trillion the previous week.

Similarly, the All-Share Index (ASI) dipped -1.16 percent to close the week at 95,973.45 points from 97,100.31 the previous week.

The Nigerian equities market began the week on a low on August 19, 2024 as investors lost a massive N749bn at the end of trading session.

The loss was reversed on Tuesday, August 20, 2024 as investors gained N66 billion at the end of trading session.

The bullish trend was maintained on Wednesday August 21, 2024 as investors gained N599 billion at the end of trading session.

The bears returned to the equities market on Thursday August 22, 2024 as investors lost N64 billion at the end of trading session.

The equities market ended the week on Friday August 23, 2024 with profit making as investors gained N146 billion at the end of trading session.

A total turnover of 5.641 billion shares worth N33.052 billion in 42,006 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.033 billion shares valued at N42.155 billion that exchanged hands last week in 45,157 deals.

The Financial Services Industry (measured by volume) led the activity chart with 4.977 billion shares valued at N17.877 billion traded in 19,064 deals; thus contributing 88.22 percent and 54.09 percent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 179.469 million shares worth N8.954 billion in 5,780deals. The third place was the Services Industry, with a turnover of 123.505 million shares worth N525.417 million in 2,436 deals.

Trading in the top three equities namely Standard Insurance Plc, Jaiz Bank Plc and Guaranty Trust Holdings Company Plc (measured by volume) accounted for 3.951 billion shares worth N7,947 billion in 1,839 deals, contributing 70.04 percent and 24.04 percent to the total equity turnover volume and value respectively.

Oando recorded the biggest share price increase percentage gaining 60.47 percent followed by RT briscoe which increased its share price by 51.19 percent in the process.

Japaul Gold also increased its share price by 35.80 percent.

On the flip side, Champion recorded the biggest decline in share prices by percentage shedding 15.03 percent followed by BUA cement for the third consecutive week which shed 9.99 percent of its share prices.University Press PLC also shed 9.92 percent.

Meanwhile, the equities market rebounded on Friday as investors gained N146 billion at the close of the day’s trading.

This followed the increase in the share prices of stocks like Oando, Total, and Cornerstone amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalisation rose to N55.1 trillion from N54.9 trillion recorded by the bourse on Thursday.

The All-Share Index (ASI) also increased to 95,973.45 from 95,718.05 recorded the previous day.

The market breadth was positive as 31 stocks advanced and 10 declined, while 77 others remained unchanged in 7, 351 deals.

Oando, Total, and Cornerstone led other gainers with 10 percent, 9.98 percent, and 9.95 percent growth each in share prices to close at N47.85, N563.00, and N2.32 from the previous N43.50, N511.90, and N2.11 per share.

On the flip side, FTN Cocoa, Cutix, and International Breweries led other price decliners as they shed 5 percent, 4.91 percent, and 4.44 percent each to close at N1.90, N3.10, and N4.30 from the initial N2.00, N3.26, and N4.50 per share.

On the volume index, Access corp led trading with 36 million shares valued at N716 million in 520 deals followed by Veritaskap which traded 27 million shares valued at N340 million in 123 deals.

FCMB traded 24 million shares valued at N12 million in 126 deals.

On the value index, Access Corp recorded the highest value for the day trading stocks worth N716 million in 520 deals followed by Oando which traded equities worth N612 million in 371 deals.

GTCO traded shares valued at N513 million in 225 deals.