The Nigerian equities market sustained the bullish trend recorded last week as investors gained N1.826 trillion on the trading floor of the Nigerian Xchange (NGX) in a near-perfect trading week.
Ripples Nigeria reports that investors recorded a gain of N883.7 billion the previous week.
In the current week, the equities market gained in four of the five trading days to ramp up a profit of N1.826 trillion in the process.
The market capitalization increased to N67.418 trillion from N65.592 trillion recorded the previous week.
Similarly, the All-Share Index (ASI) appreciated by 2.00% to close the week at 108,053.95 points from 105,933.03 points recorded the previous week.
The Nigerian equities market began the week on Monday, February 10, 2025, on a bearish note but investors still gained N477 billion at the end of the trading session.
The market closed with a gain on Tuesday, February 11, 2025, as investors gained N426 billion.
The bulls continued to visit the market on Wednesday, February 12, 2025, as investors gained N779bn.
The market sustained the bullish trend on Thursday, February 13, 2025, as investors gained another N842 billion at the end of the trading session.
The market closed the week on Friday, February 14, 2025, with a loss as investors lost N700 billion.
Meanwhile, a total turnover of 2.414 billion shares worth N55.512 billion in 80,988 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.051 billion shares valued at N98.350 billion that exchanged hands last week in 72,535 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.398 billion shares valued at N24.039 billion traded in 31,919 deals; thus contributing 57.92% and 43.30% to the total equity turnover volume and value respectively.
The Services industry followed with 247.303 million shares worth N1.165 billion in 6,277 deals.
In third place was the Consumer Goods Industry, with a turnover of 153.776 million shares worth N3.939 billion in 8,405 deals.
Trading in the top three equities namely Sterling Financial Holdings Company Plc, Access Holdings Plc and Secure Electronic Technology Plc (measured by volume) accounted for 455.469 million shares worth N5.273 billion in 6,654 deals, contributing 18.87% and 9.50% to the total equity turnover volume and value respectively.
Sixty-five (65) equities appreciated during the week, higher than fifty-eight (58) equities in the previous week. Thirty-one (31) equities depreciated in price, lower than thirty-four (34) in the previous week, while fifty-four (54) equities remained unchanged, lower than fifty-eight (58) recorded in the previous week.
Honeywell Flour Mill Plc recorded the biggest share price increase in percentage gaining 47.06% followed by UPDC Plc which increased its share price by 45.95% in the process.
VFD Group Plc also increased its share price by 30.63%.
On the flip side, Daar Communications Plc recorded the biggest decline in share prices by percentage shedding 13.58% followed by International Energy Insurance Plc which shed 10.80% of its share prices.
Bua Foods Plc also knocked off 10% of its share prices.
By: Babajide Okeowo
Source: Ripples Nigeria
