Investors in Nigerian equities market recorded bullish trading sessions on the floor of the Nigerian Xchange Group (NGX) gaining N348.34bn as market capitalization increased to N55.47trn from N55.12trn the previous week.
This came following a loss of N2.4bn in the previous week.
The bourse recorded gains in four of the five trading days of the week.
The market capitalisation increased by N348.34bn as equity capitalization rose to N55.47trn from N55.12trn recorded last week.
Similarly, the All-Share Index (ASI) increased by 0.63% to close the week at 96,579.54 points from 95,973.45 recorded the previous week.
Nigerian equities market began the week on with a profit on Monday August 26, 2024 as investors gained N36.67bn at the end of trading session.
The trend continued on Tuesday, August 27, 2024 as investors gained N271bn at the end of trading session.
The bullish trend was halted on Wednesday August 28, 2024 as investors lost N176bn at the end of trading session.
The bulls returned to the equities market on Thursday August 29, 2024 as investors gained N117bn at the end of trading session.
The equities market closed the week on Friday, August 30, 2024 with profit making as investors gained N98bn at the end of trading session.
READ ALSO:NGX: Equities market ends week with N98bn profit for investors
A total turnover of 2.821billion shares worth N53.048 billion in 50,488 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 5.641 billion shares valued at N33.052 billion that exchanged hands last week in 42,006 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.857 billion shares valued at N15.825 billion traded in 19,937 deals; thus contributing 65.82% and 29.83% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 288.807 million shares worth N11.302 billion in 9,365 deals.
In the third place was the Services Industry, with a turnover of 177.666 million shares worth N437.174 million in 3,604 deals.
Trading in the top three equities namely Consolidated Hallmark Holdings Plc, Veritas Kapital, Assurance Plc and Access Holdings Plc (measured by volume) accounted for 862.499 million shares worth N 3.795 billion in 3,511deals, contributing 30.57% and 7.15% to the total equity turnover volume and value respectively.
For the second week, Oando recorded the biggest share price increase percentage gaining 60.71% followed by DEAPCAP which increased its share price by 57.14% per in the process.
MCNICHOLS also increased its share price by 56.57%.
On the flip side, TRANSCORP recorded the biggest decline in share prices by percentage shedding 9.99% followed by MTNN which shed 9.91% of its share prices.
UNIVERSITY PRESS PLC also shed 9.45%.
By: Babajide Okeowo
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