Investors in the Nigerian equities market continued to enjoy a profit-making streak smiling home with a massive profit of N707.61 billion on the trading floor in the just concluded trading week.
This follows a gain of N426.68 billion the previous week.
The bourse recorded gains in four of the five trading sessions this week and ended up with a profit of N707.61 billion.
The market capitalization increased to N60.242 trillion from N59.53 trillion the previous week.
Similarly, the All-Share Index (ASI) appreciated by 1.19% to close the week at 99,378.06 points from 98,210.75 points recorded the previous week.
The Nigerian equities market began the month on Monday, December 9, 2024, with a loss as investors lost N62.58 billion at the end of the trading session.
The rest of the week was profitable for investors.
The market closed on Tuesday, December 10, 2024, with a profit of N60.29 billion.
The bulls continued in the market as investors gained N183.50 billion at the end of the trading session on Wednesday, December 11, 2024.
Investors gained N152.10 billion on Thursday, December 12, 2024.
READ ALSO: NGX: Market capitalization crosses N60tr mark as investors gain N375b
The market closed positive on Friday, December 13, 2024, as investors gained N374.30 billion at the end of the trading session.
A total turnover of 2.729 billion shares worth N49.845 billion in 43,298 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.893 billion shares valued at N87.749 billion that exchanged hands last week in 43,868 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.705 billion shares valued at N18.874 billion traded in 19,203 deals; thus contributing 62.48% and 37.87% to the total equity turnover volume and value respectively.
The ICT industry followed with 286.657 million shares worth N6.346 billion in 2,603 deals. Third place was the Oil and Gas Industry, with a turnover of 209.404 million shares worth N10.827 billion in 5,803 deals.
Trading in the top three equities namely Coronation Insurance Plc, E-Tranzact International Plc, and FCMB Group Plc (measured by volume) accounted for 865.665 million shares worth N3.629 billion in 1,149 deals, contributing 31.72% and 7.28% to the total equity turnover volume and value respectively.
Fifty-one (51) equities appreciated in price during the week, the same as fifty-one (51) equities in the previous week. Thirty-five (35) equities depreciated in price higher than thirty (30) in the previous week, while sixty-seven (67) equities remained unchanged, lower than seventy-two (72) recorded in the previous week.
Golden Guinea Breweries Plc. recorded the biggest share price increase in percentage gaining 60.00% followed by Africa Prudential Plc which increased its share price by 59.72% in the process.
Tantalizers Plc also increased its share price by 52.07%.
On the flip side, Secure Electronic Technology Plc recorded the biggest decline in share prices by percentage shedding 22.86% followed by Austin Laz & Company Plc which shed 14.74% of its share prices.
Haldane McCall Plc also knocked off 11.11% of its share prices.
By: Babajide Okeowo
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