Newscenter Media News It was yet another week to forget for investors in the Nigerian equities market following a cumulative loss of N139.89bn in the just ended trading week.
The bourse recorded losses in four of the five trading days making profits on just one trading day.
The market capitalisation fell to N56.44trn from N56.58trn the previous week.same as the All-Share Index (ASI) which recorded declined by -0.35% to close at 99,671.28 points, down from 100,022.03 points recorded the previous week.
The equities market started the week on a negative note as investors recorded a loss of N8bn at the end of trading session on Monday, July 8, 2024.
The trend continued on Tuesday, July 9, 2024 as investors lost another whopping N113bn at the end of trading session.
The negative trend continued on Wednesday, July 3, 2024 as investors recorded a loss of N2.18bn.
Thursday was not different as investors recorded the biggest loss of the week as the equities market shed N188bn at the end of trading session.
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Investors breathed a sigh of relief on Friday, July 12, 2024, the last trading session of the week to record a profit of N172bn at the end of trading session.
In terms of volumes of transactions made, MBC SECURITIES led the way with 615m worth of stocks followed by FBN QUEST SECURITIES LIMITED which traded a total of 608m equities valued at N6.810bn.
CARDINALSTONE SECURITIES LIMITED traded 605m volume of shares valued at N12.380bn.
The NGX Banking Index dragged the bourse down by 2.08% while the NGX Oil and Gas Index pushed up the bourse by 1.38%.
PRESCO recorded the biggest share price increase from N354 at the beginning of the week to N369 gaining N14.80 followed by CONOIL which increased its share price from N126.50 to N136.95 gaining N10.45 in the process.
VITAFOAM also increased its share price by N3. 20 from N18.00 to N21.20.
On the flip side, JULIUS BERGER for the second week running recorded the biggest decline in share prices losing N5.10 to close the week at N83.50 from the N88.60 it started the week on followed by GUINNESS which shed N5.00 and ended the week on N65.00 from N70.00 at the start of the week.
PZ also shed N2.20 to close at N19.80 from N22.00 at the beginning of the week.
BY: Babajide Okeowo
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