Investors in Nigerian equities market enjoyed a trading week to forget on the floor of the NGX following a loss of N1.32tr in the just ended trading week.
The bourse recorded losses in four of the five trading days gaining on just one trading day as the market suffered the second heaviest loss in 2024 yesterday.
The market capitalisation fell by N1.32tr to N55.61trn from N56.93trn in the previous week.
Similarly, the All-Share Index (ASI) fell by 2.33% to close at 98,201.49 from 100,539.40 points recorded the previous week.
The equities market began the week on a positive note on Monday, July 22, 2024 as investors gained N16bn at the end of trading session.
It went downhill from there.
On Tuesday, July 23, 2024 the equities market reversed the gain made on Monday, July 22, 2024 as investors lost N46bn at the end of trading session
It was the same on Wednesday, July 24, 2024 as investors recorded a loss of N68bn.
On Thursday, July 25, 2024 investors also lost N117bn at the end of trading session.
The equities market closed the week with its second heaviest loss in 2024 on Friday, July 26, 2024 as investors lost N1.1tn at the end of the trading session culminating in a total loss of N1.32tn for the just ended week.
READ ALSO:NGX: Investors lose N117bn as equities market slump continues
A total turnover of 3.557 billion shares worth N47.220 billion in 42,871 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.827 billion shares valued at N42.366 billion that exchanged hands last week in 44,277 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.011 billion shares valued at N25.783 billion traded in 24,350 deals; thus contributing 56.52% and 54.60% to the total equity turnover volume and value respectively.
The Services Industry followed with 1.020 billion shares worth N3.216 billion in 1,846 deals. The third place was the Agriculture Industry, with a turnover of 168.028 million shares worth N647.859 million in 1,473 deals.
Trading in the top three equities namely Tourist Company of Nigeria Plc, FCMB Group Plc and Abbey Mortgage Bank Plc (measured by volume) accounted for 1.876 billion shares worth N8.511 billion in 935 deals, contributing 52.73% and 18.02% to the total equity turnover volume and value respectively.
SOVEREIGN TRUST INSURANCE PLC recorded the biggest share price increase from N0.49 at the beginning of the week to N0.56 followed by CORONATION INSURANCE PLC which increased its share price from N0.76 to N0.86.
NEIMETH also increased its share price by N0.22 from N1.74 to N1.96.
On the flip side, SECURE ELECTRONIC TECHNOLOGY PLC recorded the biggest decline in share prices losing N0.15 to close the week at N0.42 from the N0.57 it started the week on followed by OMATEK which shed N0.11 and ended the week on N0.63 from N0.74 at the start of the week.
CUTIX also shed N0.84 to close at N5.15 from N5.19 at the beginning of the week.
By: Babajide Okeowo
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