Business
NGX WEEKLY ROUND-UP: Investors lose N1.2tr as equities market collapses
Investors in the Nigerian equities market experienced a trading week to forget this week losing a massive N1.2 trillion on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation decreased from N60.26 trillion to N59.03 trillion.
This follows a gain of N801 billion in the previous week.
The bourse recorded losses in all the five trading days of the week.
The market capitalization decreased from N60.26 trillion to N59.03 trillion.
Similarly, the All-Share Index (ASI) depreciated by 2.03% to close the week at 98,070.28 points from 97,432.02 recorded the previous week.
The Nigerian equities market began the week on Monday, October 28, 2024, with losses as investors lost N414 billion at the end of the trading session.
The market closed on Tuesday, October 29, 2024, with a loss of N394.37 billion.
The trend continued all through the week as investors lost N21.11 billion at the end of the trading session on Wednesday, October 30, 2024.
On Thursday, October 31, 2024, investors lost N225.41 billion at the end of the trading session.
The market closed negative on Friday, November 1, 2024, as investors lost another N132 billion at the end of the trading session.
A total turnover of 2.717 billion shares worth N54.632 billion in 46,848 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.142 billion shares valued at N85.946 billion that exchanged hands last week in 41,217 deals.
READ ALSO: NGX: Equities ends week in red as investors lose N132bn
The Financial Services Industry (measured by volume) led the activity chart with 1.821 billion shares valued at N28.958 billion traded in 20,173 deals; thus contributing 67.01% and 53.01% to the total equity turnover volume and value respectively.
The ICT Industry followed with 389.848 million shares worth N6.560 billion in 2,515 deals. Third place was the Conglomerates Industry, with a turnover of 160.993 million shares worth N4.746 billion in 3,623 deals.
Trading in the top three equities namely Fidelity Bank Plc, Chams Holding Company Plc and United Bank for Africa Plc (measured by volume) accounted for 1.225 billion shares worth N17.721 billion in 4,912 deals, contributing 45.10% and 32.44% to the total equity turnover volume and value respectively.
Thirty-nine (39) equities appreciated during the week lower than fifty-eight (58) equities in the previous week. Forty-five (45) equities depreciated higher than eighteen (18) in the previous week, while sixty-eight (68) equities remained unchanged, lower than seventy-six (76) recorded in the previous week.
Transnational Corporation Plc recorded the biggest share price increase in percentage gaining 314.03% followed by Eunisell Interlinked Plc which increased its share price by 60.57% in the process.
John Holt Plc also increased its share price by 20.00%.
On the flip side, Aradel Holdings Plc recorded the biggest decline in share prices by percentage shedding 25.75% followed by Caverton Offshore Support Grp Plc which shed 20.00% of its share prices.
Ellah Lakes Plc also shed 12.59% off its share prices.
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