Newscenter Media News Investors in the Nigerian equities market enjoyed a bullish first full trading week in the new year raking in a profit of N1.137 trillion on the trading floor of the Nigerian Xchange (NGX).
This follows a gain of N1.253tr the previous week.
The bourse recorded gains in three of the five trading sessions this week.
The market capitalization increased to N64.303 trillion from N63.166 trillion the previous week.
Similarly, the All-Share Index (ASI) appreciated by 1.80% to close the week at 105,451.06 from the 103,586.33 points recorded the previous week.
The Nigerian equities market began the week on Monday, January 6, 2025, with a profit as investors gained N37.75 billion at the end of the trading session.
The market closed with a loss on Tuesday, January 7, 2025, with a loss of N152.09 billion.
The market reversed the previous day’s loss with a profit of N507.28 billion on Wednesday, January 8, 2025.
The market sustained that bullish trend on Thursday, January 9, 2025, as investors gained N792.73 billion at the end of the trading session.
The trend was reversed on Friday, January 10, 2025, as investors closed the week with a loss of N48.59 billion.
READ ALSO: STOCK WEEKLY ROUND-UP: Equities market on a roll, investors gain N1,061 trillion in one week
Meanwhile, a total turnover of 4.698 billion shares worth N85.043 billion in 72,562 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.618 billion shares valued at N69.742 billion that exchanged hands last week in 47,953 deals.
The Financial Services Industry (measured by volume) led the activity chart with 3.470 billion shares valued at N40.791 billion traded in 34,364 deals; thus contributing 73.86% and 47.97% to the total equity turnover volume and value respectively.
The Services industry followed with 407.032 million shares worth N2.226 billion in 4,996 deals.
Third place was the ICT Industry, with a turnover of 237.680 million shares worth N3.628 billion in 5,280 deals.
Trading in the top three equities namely Wema Bank Plc, FBN Holdings Plc and Universal Insurance Plc (measured by volume) accounted for 1.679 billion shares worth N20.838 billion in 4,922 deals, contributing 35.74% and 24.50% to the total equity turnover volume and value respectively.
Fifty-one (51) equities appreciated in price during the week, lower than eighty-two (82) equities in the previous week. Thirty-nine (39) equities depreciated in price higher than eighteen (18) in the previous week, while sixty-two (62) equities remained unchanged, higher than fifty-two (52) recorded in the previous week.
Multiverse Mining And Exploration Plc recorded the biggest share price increase in percentage gaining 53.42% followed by Honeywell Flour Mill Plc which increased its share price by 31.67% in the process.
Daar Communications Plc also increased its share price by 25.71%.
On the flip side, Sunu Assurances Nigeria Plc recorded the biggest decline in share prices by percentage shedding 36.52% followed by Caverton Offshore Support Grp Plc which shed 15% of its share prices.
Consolidated Hallmark Holdings Plc also knocked off 15% of its share prices.
By: Babajide Okeowo
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