NGX WEEKLY ROUND-UP: Investors lose N539.09bn as bears ravage equities market

Investors in Nigerian equities market loved a buying and selling week to neglect incurring a lack of N539.09bn on the ground of the Nigerian Xchange Group (NGX) as fairness capitalisation depreciated to N56.03 trillion from N56.46 trillion

This follows a achieve of N121.07bn within the earlier week.

The bourse recorded good points in two of the 4 buying and selling days of the week as a result of independence day vacation.

The market capitalisation depreciated to N56.03 trillion from N56.46 trillion the earlier week.

Similarly, the All-Share Index (ASI) depreciated by 0.95% to shut the week at 97,520.54 from 98,458.68 factors the earlier week.

Nigerian equities market started the week on Monday September 30, 2024 with revenue making as traders gained N57.53bn on the finish of buying and selling session.

The market closed on Tuesday , October 1, 2024 as a result of public vacation to commemorate the nation ‘s sixty fourth independence celebration.

The equities market returned from the vacation with a loss as traders misplaced N187.56bn on the finish of buying and selling session on Wednesday October 2, 2024.

The bears continued to ravage the equities market on Thursday October 3, 2024 as traders misplaced a large N671.16bn on the finish of buying and selling session.

Investors loved a reprieve on Friday, October 4, 2024 as traders gained N262.10bn on the finish of buying and selling session.

Meanwhile, a complete turnover of two.872 billion shares price N132.811 billion in 39,867 offers was traded this week by traders on the ground of the Exchange, in distinction to a complete of three.318 billion shares valued at N45.911 billion that exchanged fingers final week in 49,243 offers.

The Consumer Goods Industry (measured by quantity) led the exercise chart with 1.341 billion shares valued at N106.099 billion traded in 4,652 offers; thus contributing 46.68% and 79.89% to the whole fairness turnover quantity and worth respectively.

The Financial Services Industry adopted with 926.615 million shares price N14.924 billion in 19,174 offers.

The third place was the Oil and Gas Industry, with a turnover of 244.638 million shares price N7.221 billion in 4,221 offers.

Trading within the prime three equities particularly Guinness Nigeria Plc, United Bank for Africa Plc and Japaul Gold & Ventures Plc (measured by quantity) accounted for 1.708 billion shares price N110.766 billion in 5,004 offers, contributing 59.47% and 83.40% to the whole fairness turnover quantity and worth respectively.

Deap Capital Management & Trust Plc recorded the largest share worth enhance share gaining 31.53% adopted by Seplat Energy Plc which elevated its share worth by 21.00% within the course of.

Triple G additionally elevated its share worth by 20.34%.

On the flip aspect, MCNICHOLS recorded the largest decline in share costs by share shedding 15.63% adopted by FIDELITY BANK PLC which shed 13.33% of its share costs.