Mixed results as investors lose N83.55bn in one week
Investors in the Nigerian equities market endured mixed trading sessions on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation fell to N55.39 trillion from N55.47 trillion the previous week.
This follows a gain of N348.34 billion in the previous week.
The bourse recorded gains in three of the five trading days of the week
The market capitalisation decreased by N83.55bn as market capitalisation fell to N55.39 trillion from N55.47 trillion the previous week.
Similarly, the All-Share Index (ASI) was down -0.15 percent to close the week at 96,433.53 points from 96,579.54 points the previous week.
The Nigerian equities market began the week on with a profit on Monday September 2, 2024 as investors gained N123bn at the end of trading session.
The trend continued on Tuesday, September 3, 2024 as investors gained another N45 billion at the end of trading session.
The bullish trend was halted on Wednesday September 4, 2024 as investors lost N193 billion at the end of trading session.
The bears continued on Thursday September 5, 2024 as investors further lost N188 billion at the end of trading session.
The equities market closed the week on Friday, September 6, 2024 with profit making as investors gained N128 billion at the end of trading session.
A total turnover of 2.141 billion shares worth N51.217 billion in 55,603 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.821 billion shares valued at N53.048 billion that exchanged hands last week in 50,488 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.229 billion shares valued at N19.976 billion traded in 20,701 deals; thus contributing 57.40 percent and 39.00 percent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 262.484 million shares worth N17.996 billion in 14,275 deals.
The third place was the Services Industry, with a turnover of 155.587 million shares worth N532.941 million in 3,558 deals.
Trading in the top three equities namely Access Holdings Plc, Oando Plc and Zenith Bank Plc (measured by volume) accounted for 517.336 million shares worth N24.454 billion in 15,502 deals, contributing 24.16 percent and 47.75 percent to the total equity turnover volume and value respectively.
IMG recorded the biggest share price increase percentage gaining 56.57 percent followed by BERGER which increased its share price by 31.12 percent in the process.
E-TRANZACT also increased its share price by 20.59 percent.
On the flip side, RTBRISCOE recorded the biggest decline in share prices by percentage shedding 27.61 percent followed by FTNCOCOA which shed 18.38 percent of its share prices.
OMATEK also shed 18.18 percent off its share prices.
