Investors in Nigerian equities market enjoyed a trading week to forget incurring a loss of N539.09bn on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation depreciated to N56.03 trillion from N56.46 trillion
This follows a gain of N121.07bn in the previous week.
The bourse recorded gains in two of the four trading days of the week due to the independence day holiday.
The market capitalisation depreciated to N56.03 trillion from N56.46 trillion the previous week.
Similarly, the All-Share Index (ASI) depreciated by 0.95% to close the week at 97,520.54 from 98,458.68 points the previous week.
Nigerian equities market began the week on Monday September 30, 2024 with profit making as investors gained N57.53bn at the end of trading session.
The market closed on Tuesday , October 1, 2024 due to the public holiday to commemorate the country ‘s 64th independence celebration.
The equities market returned from the holiday with a loss as investors lost N187.56bn at the end of trading session on Wednesday October 2, 2024.
The bears continued to ravage the equities market on Thursday October 3, 2024 as investors lost a massive N671.16bn at the end of trading session.
Investors enjoyed a reprieve on Friday, October 4, 2024 as investors gained N262.10bn at the end of trading session.
READ ALSO: NGX: Equities market in massive slump as investors lose N671bn
Meanwhile, a total turnover of 2.872 billion shares worth N132.811 billion in 39,867 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.318 billion shares valued at N45.911 billion that exchanged hands last week in 49,243 deals.
The Consumer Goods Industry (measured by volume) led the activity chart with 1.341 billion shares valued at N106.099 billion traded in 4,652 deals; thus contributing 46.68% and 79.89% to the total equity turnover volume and value respectively.
The Financial Services Industry followed with 926.615 million shares worth N14.924 billion in 19,174 deals.
The third place was the Oil and Gas Industry, with a turnover of 244.638 million shares worth N7.221 billion in 4,221 deals.
Trading in the top three equities namely Guinness Nigeria Plc, United Bank for Africa Plc and Japaul Gold & Ventures Plc (measured by volume) accounted for 1.708 billion shares worth N110.766 billion in 5,004 deals, contributing 59.47% and 83.40% to the total equity turnover volume and value respectively.
Deap Capital Management & Trust Plc recorded the biggest share price increase percentage gaining 31.53% followed by Seplat Energy Plc which increased its share price by 21.00% in the process.
Triple G also increased its share price by 20.34%.
On the flip side, MCNICHOLS recorded the biggest decline in share prices by percentage shedding 15.63% followed by FIDELITY BANK PLC which shed 13.33% of its share prices.
Dangote Sugar Refinery Plc also shed 12.20% off its share prices.
By: Babajide Okeowo
The post NGX WEEKLY ROUND-UP: Investors lose N539.09bn as bears ravage equities market appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.