Investors in Nigerian equities market endured a torrid trading week on the floor of the NGX losing N846.53bn as market capitalization fell to N55.13trn from N55.98trn the previous week.
This following a loss of N480bn in the previous week.
The bourse recorded losses in all the five trading days of the week.
The market capitalisation decreased by N846.53bn as market capitalization fell to N55.13trn from N55.98trn the previous week.
Similarly, the All-Share Index (ASI) fell by dipped -1.51% to close the week at 97,100.31 points from 98,592.12 points the previous week.
Nigerian equities market began the week on a low on August 12, 2024 as investors lost a massive N404bn at the end of trading session.
Similarly, the equities market market continued its bearish trend on Tuesday August 13, 2024 as investors lost N278bn at the end of trading session.
The bearish trend in the Nigerian equities market continued unabated on Wednesday August 14, 2024 as investors lost N80bn at the end of trading session.
For the fourth consecutive trading day, the bearish trend in the Nigerian equities market continued on Thursday August 15, 2024 as investors lost N84bn at the end of trading session.
READ ALSO:NGX: Oando, ABCTRANS, others drag equities market down as investors lose N84bn
The equities market ended the week in the red for the fifth consecutive day on Friday August 16, 2024 as investors lost N4mn at the end of trading session.
A total turnover of 2.033 billion shares worth N42.155 billion in 45,157 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.679 billion shares valued at N49.017 billion that exchanged hands last week in 47,451 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.377 billion shares valued at N25.652 billion traded in 20,132 deals; thus contributing 67.73% and 60.85% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 276.729 million shares worth N6.026billion in 6,848 deals. The third place was the Services Industry, with a turnover of 101.217 million shares worth N682.062 million in 2,475 deals.
Trading in the top three equities namely Guaranty Trust Holdings Company Plc, Veritas Kapital Assurance Plc and Japaul Gold & Ventures Plc (measured by volume) accounted for 674.233 million shares worth N16,055 billion in 3,977 deals, contributing 33.16% and 38.08% to the total equity turnover volume and value respectively.
RT BRISCOE recorded the biggest share price increase percentage gaining 33.86% followed by TOTAL which increased its share price by 19.69% per in the process.
JBERGER also increased its share price by 18.18%.
On the flip side, CUTIX recorded the biggest decline in share prices by percentage shedding 17.50% followed by BUA CEMENT for the second consecutive which shed 14.82% of its share prices.
OANDO also shed 11.70% to close at N35.85 from N40.60 at the beginning of the week.
By Babajide Okeowo
The post NGX WEEKLY ROUND-UP: Investors gain N846bn as equities market crumbles appeared first on Latest Nigeria News | Top Stories from Naomisophyblog.
