Investors in Nigerian equities market recorded a mixed trading week on the floor of the NGX losing N2.45bn as market capitalization fell to N55.12trn from N55.13trn the previous week.
This following a loss of N846bn in the previous week.
The bourse recorded losses in two of the five trading days of the week.
The market capitalisation decreased by N2.45bn as market capitalization fell to N55.12trn from N55.13trn the previous week.
Similarly, the All-Share Index (ASI) by dipped -1.16% to close the week at 95,973.45 points from 97,100.31 the previous week.
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 N66bn at the end of trading session.
The bullish trend was maintained on Wednesday August 21, 2024 as investors gained N599bn at the end of trading session.
The bears returned to the equities market on Thursday August 22, 2024 as investors lost N64bn at the end of trading session.
The equities market ended the week on Friday August 23, 2024 with profit making as investors gained N146bn at the end of trading session.
READ ALSO:MTNN, Zenith, FBNH, Oando others top list of stocks to watch this week
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% and 54.09% 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% and 24.04% to the total equity turnover volume and value respectively.
Oando recorded the biggest share price increase percentage gaining 60.47% followed by RT BRISCOE which increased its share price by 51.19% per in the process.
JAPAUL GOLD also increased its share price by 35.80%.
On the flip side, CHAMPION recorded the biggest decline in share prices by percentage shedding 15.03% followed by BUA CEMENT for the third consecutive week which shed 9.99% of its share prices.
UNIVERSITY PRESS PLC also shed 9.92%.
By: Babajide Okeowo
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