NGX WEEKLY ROUND-UP: Investors gain N801bn as equities market booms

Investors in the Nigerian equities market experienced a boom this trading week gaining N801 billion on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation increased from N59.42 trillion to N60.26 trillion.

This follows a gain of N3.34trn in the previous week.

The bourse recorded gains in five of the five trading days of the week.

The market capitalization appreciated from N59.42 trillion to N60.26 trillion from the previous week.

Similarly, the All-Share Index (ASI) appreciated by 1.41% to close the week at 99, 448.91 from 98,070.28 points recorded the previous week.

The Nigerian equities market began the week on Monday, October 21, 2024, with profit-making as investors gained N378 billion at the end of the trading session.

The market closed on Tuesday, October 22, 2024, with a gain of N119 billion.

The trend continued all through the week as investors gained N31 billion at the end of the trading session on Wednesday, October 23, 2024.

On Thursday, October 24, 2024, investors gained N148 billion at the end of the trading session.

The market closed positive on Friday, October 25, 2024, as investors gained another N122 billion at the end of the trading session.

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A total turnover of 2.142 billion shares worth N85.946 billion in 41,217 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.447 billion shares valued at N73.889 billion that exchanged hands last week in 39,546 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.176 billion shares valued at N23.739 billion traded in 19,570 deals; thus contributing 54.91% and 27.62% to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 366.923 million shares worth N4.672 billion in 4,004 deals.

Third place was occupied by the Oil and Gas Industry, with a turnover of 228.439 million shares worth N52.635 billion in 7,547 deals.

Trading in the top three equities namely United Bank for Africa Plc, Champion Breweries Plc and Japaul Gold and Ventures Plc (measured by volume) accounted for 828.822 million shares worth N12.319 billion in 5,080 deals, contributing 38.70% and 14.33% to the total equity turnover volume and value respectively.

Fifty-eight (58) equities appreciated in price during the week higher than thirty-three (33) equities in the previous week. Eighteen (18) equities depreciated in price lower than forty-three (43) in the previous week, while seventy-six (76) equities remained unchanged, same as seventy-six (76) recorded in the previous week.

Eunisell Interlinked Plc recorded the biggest share price increase percentage gaining 20.69% followed by United Bank For Africa Plc which increased its share price by 18.50% in the process.

Unilever Nigeria Plc also increased its share price by 18.42%.

On the flip side, Dangote Sugar Refinery Plc recorded the biggest decline in share prices by percentage shedding 10.13% followed by John Holt Plc which shed 9.84% of its share prices.

Secure Electronic Technology Plc also shed 9.68% off its share prices.

By: Babajide Okeowo

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