Investors in the Nigerian equities market enjoyed a bullish trading session in the last few days of 2024 and the early days of 2025 raking in a profit of N1.253 trillion on the trading floor of the Nigerian Xchange (NGX).
This follows a gain of N609 billion the previous week.
The bourse recorded gains in three of the four trading sessions this week due to the New Year break and still ended up with a profit of N1.253tr
The market capitalization increased to N63.166 trillion from N61.912 trillion the previous week.
Similarly, the All-Share Index (ASI) appreciated by 1.42% to close the week at 103,586.33 points from 102,133.30 points recorded the previous week.
The Nigerian equities market began the week on Monday, December 30, 2024, with a profit as investors gained N987.18 billion at the end of the trading session.
The market closed the year with a loss on Tuesday, December 31, 2024, with a loss of N135.95 billion.
The market then went on a break as the Federal Government of Nigeria declared Wednesday, January 1, 2025, as a Public Holiday to commemorate the New Year.
The market kick-started the New Year with a profit on Thursday, January 2, 2025, as investors gained N154.73 billion at the end of the trading session.
The trend was sustained on Friday, January 3, 2025, with a profit of N247.69 for investors.
Meanwhile, a total turnover of 2.618 billion shares worth N69.742 billion in 47,953 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.387 billion shares valued at N52.023 billion that exchanged hands last week in 33,411 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.751 billion shares valued at N17.079 billion traded in 20,595 deals; thus contributing 66.88% and 24.49% to the total equity turnover volume and value respectively.
The Services industry followed with 205.807 million shares worth N1.829 billion in 3,654 deals.
In third place was the ICT Industry, with a turnover of 189.938 million shares worth N1.844 billion in 3,686 deals.
Trading in the top three equities namely Royal Exchange Plc, Chams Holding Company Plc and Universal Insurance Plc (measured by volume) accounted for 612.033 million shares worth N773.439 million in 2,108 deals, contributing 23.38% and 1.11% to the total equity turnover volume and value respectively.
Eight-two (82) equities appreciated in price during the week, higher than sixty-four (64) equities in the previous week. Eighteen (18) equities depreciated in price lower than twenty (20) in the previous week, while fifty-two (52) equities remained unchanged, lower than sixty-nine (69) recorded in the previous week.
Prestige Assurance Plc recorded the biggest share price increase in percentage gaining 46.00% followed by Neimeth International Pharmaceuticals Plc which increased its share price by 45.26% in the process.
Sovereign Trust Insurance Plc also increased its share price by 45.16%.
On the flip side, PZ Cussons Nigeria Plc recorded the biggest decline in share prices by percentage shedding 13.79% followed by CWG Plc which shed 10.83% of its share prices.
Union Dicon Salt Plc also knocked off 10% of its share prices.
By: Babajide Okeowo