Investors rake in N121.07bn profit in one week
Investors in the Nigerian equities market enjoyed a profitable trading week raking in N121.07bn on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation rose to N56.78trn from N56.46trn the previous week.
This follows a gain of N454.86bn in the previous week.
The bourse recorded gains in three of the five trading days of the week
The market capitalisation rose to N56.46trn from N56.00trn the previous week.
Similarly, the All-Share Index (ASI) rose +0.21% to close the week at 98,458.68 points from 98,247.99 points the previous week.
The Nigerian equities market began the week on Monday September 23, 2024 with profit making as investors gained N79.65bn at the end of trading session.
The trend continued on Tuesday, September 24, 2024 as investors gained another N104.57bn at the end of trading session.
The profit making session was extended to Wednesday September 25, 2024 as investors gained additional N240.67bn at the end of trading session.
The bears returned to the equities market on Thursday September 26, 2024 as investors lost N266.55bn at the end of trading session.
The equities market closed the week on Friday, September 27, 2024 with a trading deficit as investors lost N37.28bn at the end of trading session.
Meanwhile, a total turnover of 3.318 billion shares worth N45.911 billion in 49,243 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.860 billion shares valued at N38.445 billion that exchanged hands last week in 40,228 deals
The Financial Services Industry (measured by volume) led the activity chart with 1.430 billion shares valued at N23.659 billion traded in 22,745 deals; thus contributing 43.09 percent and 51.53 percent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 703.389 million shares worth N7.323 billion in 6,207 deals.
The third place was the Healthcare Industry, with a turnover of 411.489 million shares worth N2.896 billion in 827 deals.
Trading in the top three equities namely Japaul Gold & Ventures Plc, Mecure Industries Plc and Fidelity Bank Plc (measured by volume) accounted for 1.363 billion shares worth N9.472 billion in 4,050 deals, contributing 41.06 percent and 20.63 percent to the total equity turnover volume and value respectively.
Ellah Lakes Plc recorded the biggest share price increase percentage gaining 59.74 percent followed by Regency Assurance Plc which increased its share price by 53.33 percent in the process.
Flour Mills Nig. Plc also increased its share price by 22.89 percent.
On the flip side, Caverton (Caverton Offshore Support Grp Plc) the biggest decline in share prices by percentage shedding 27.37% followed by Multiverse (Multiverse Mining And Exploration Plc) which shed 19.64% of its share prices.
Okomu Oil (Okomu Oil Palm Plc) also shed 13.10% off its share prices.
