Investors in Nigerian equities market enjoyed a profitable trading week raking in N454.86bn on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation rose to N56.46trn from N56.00trn the previous week.
This follows a gain of N607bn in the previous week.
The bourse recorded gains in three of the four trading days of the week as the market opened for four trading days this week following the Federal Government of Nigeria declaration of Monday September 16, 2024, as Public Holiday to commemorate 2024 Eid el Maulud celebration.
The market capitalisation rose to N56.46trn from N56.00trn the previous week.
Similarly, the All-Share Index (ASI)l rose 0.81% to close the week at 98,247.99 points from 97,456.62 points the previous week.
Nigerian equities market began the week on Tuesday September 17, 2024 with profit making as investors gained N131bn at the end of trading session.
The trend continued on Wednesday, September 18, 2024 as investors gained another N313bn at the end of trading session.
The bears returned to the equities market on Thursday September 19, 2024 as investors lost N130bn at the end of trading session.
The equities market closed the week on Friday, September 20, 2024 with profit making as investors gained N140bn at the end of trading session.
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Meanwhile, a total turnover of 1.860 billion shares worth N38.445 billion in 40,228 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.584 billion shares valued at N51.205 billion that exchanged hands last week in 50,615 deals.
The Financial Services Industry (measured by volume) led the activity chart with 820.815 million shares valued at N16.149 billion traded in 16,627 deals; thus contributing 44.13% and 42.01% to the total equity turnover volume and value respectively.
The Oil and Gas
Industry followed with 443.711 million shares worth N5.055 billion in 5,319 deals.
The third place was the Conglomerates Industry, with a turnover of 183.729 million shares worth N2.971 billion in 2,510 deals.
Trading in the top three equities namely Japaul Gold & Ventures Plc, FBN Holdings Plc and
UACN Plc (measured by volume) accounted for 728.034 million shares worth N10.029 billion in 4,374 deals, contributing 39.14% and 26.09% to the total equity turnover volume and value respectively.
For the second week running, CAVERTON recorded the biggest share price increase percentage gaining 45.28% followed by FIDELITY BANK which increased its share price by 24.20% in the process.
FIDSON also increased its share price by 21.76%.
On the flip side, NNIGFLOURM (New Nigeria Flour Mills Plc) the biggest decline in share prices by percentage shedding 18.97% followed by MECURE which shed 18.18% of its share prices.
TANTALIZERS also shed 14.08% off its share prices.
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