NGX weekly round-up: Investors enjoy profitable trading week, rake in N607bn profit
Investors in the Nigerian equities market enjoyed a trading week of massive profit taking as they raked in a massive N607bn on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation rose to N56.00trn from N55.39 trillion the previous week.
This follows a loss of N83.55 billion in the previous week
The bourse recorded gains in three of the five trading days of the week.
The market capitalisation rose to N56.00 trillion from N55.39 trillion the previous week.
Similarly, the All-Share Index (ASI)l rose 1.06 percent to close the week at 97,456.62 points from 96,433.53 points the previous week
Nigerian equities market began the week on with a loss on Monday September 9, 2024 as investors lost N111 billion at the end of trading session.
The trend was reversed on Tuesday, September 10, 2024 as investors gained another N343bn at the end of trading session.
The bears returned to the equities market on Wednesday September 11, 2024 as investors lost N50 billion at the end of trading session.
The bulls returned on Thursday September 12, 2024 as investors gained N178 billion at the end of trading session.
The equities market closed the week on Friday, September 13, 2024 with profit making as investors gained N247 billion at the end of trading session.
A total turnover of 2.584 billion shares worth N51.205 billion in 50,615 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.141 billion shares valued at N51.217 billion that exchanged hands last week in 55,603 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.707 billion shares valued at N26.989 billion traded in 19,277 deals; thus contributing 66.05 percent and 52.71 percent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 332.829 million shares worth N11.997 billion in 9,956 deals.
The third place was the Services Industry, with a turnover of 146.189 million shares worth N530.544 million in 3,404 deals.
Trading in the top three equities namely Jaiz Bank Plc, Zenith Bank Plc and Japaul Gold & Ventures Plc (measured by volume) accounted for 947.855 million shares worth N11.084 billion in 4,822 deals, contributing 36.68 percent and 21.65 percent to the total equity turnover volume and value respectively.
Caverton recorded the biggest share price increase percentage gaining 59.75 percent followed by RTBRISCOE which increased its share price by 42.02 percent in the process.
UPDC also increased its share price by 36.92 percent.
On the flip side, LEARNAFRICA recorded the biggest decline in share prices by percentage shedding 22.15 percent followed by JULIUS BERGER which shed 17.89% of its share prices.
PZ also shed 17.63 percent off its share prices.
