NGX WEEKLY RECAP: Mixed results as investors lose N83.55 billion

Investors in the Nigerian equity market experienced a mixed trading session on the floor of the Nigerian Xchange Group (NGX) as equity capitalization fell to N55.39 trillion from N55.47 trillion the previous week.

This follows a gain of N348.34 billion in the previous week.

The exchange recorded gains on three of the five trading days of the week.

Market capitalization decreased by N83.55 billion as the market capitalization dropped to N55.39 trillion from N55.47 trillion in the previous week.

Similarly, the All Share Index (ASI) fell -0.15% to close the week at 96,433.53 points from 96,579.54 points in the previous week.

The Nigerian equity market started the week with gains on Monday, September 2, 2024 as investors earned N123 billion at the end of the trading session.

This trend continued on Tuesday, September 3, 2024 as investors earned another N45 billion at the end of the trading session.

The bullish trend came to a halt on Wednesday, September 4, 2024 as investors lost N193 billion by the end of the trading session.

The price decline continued on Thursday, September 5, 2024 as investors lost another N188 billion by the end of the trading session.

ALSO READ:NGX: Equity market continues bearish trend as investors lose N188 billion

The equity market closed on Friday, September 6, 2024 with a gain as investors earned N128 billion at the end of the trading session.

A total turnover of 2.141 billion shares worth N51.217 billion in 55,603 transactions was traded this week by investors on the floor of the Exchange, as against a total of 2.821 billion shares worth N53.048 billion traded last week in 50,488 transactions.

The Financial Services industry (measured by volume) led the activity charts with 1.229 billion
shares worth Rp19.976 billion traded in 20,701 transactions, thus contributing 57.40% and
39.00% of the total volume and value of equity turnover.

The Oil and Gas industry followed with 262.484 million shares worth N17.996 billion in 14,275 transactions.

The third rank was achieved by the Services Industry with a turnover of 155.587 million shares worth IDR 532.941 billion.
in 3,558 transactions.

Trading in the top three equities namely Access Holdings Plc, Oando Plc and Zenith Bank Plc (measured by volume) was recorded at 517.336 million shares worth N24.454 billion in 15,502 transactions, contributing 24.16% and 47.75% to the total equity turnover volume and value respectively.

IMG recorded the largest percentage increase in share price of 56.57%, followed by BERGER which increased its share price by 31.12% in the process.

E-TRANZACT also increased its share price by 20.59%.

On the other hand, RTBRISCOE recorded the largest share price decline by percentage, namely 27.61%, followed by FTNCOCOA which lost 18.38% of its share price.

OMATEK also lost 18.18% of its share price.

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