The Nigerian equities market rebounded from last week’s massive loss as investors gained N794 billion on the trading floor of the Nigerian Xchange (NGX).
Ripples Nigeria reports that investors recorded a loss of N1.452 trillion the previous week.
However, this week, the bourse rebounded, and recorded gains in three of the five trading days.
The market capitalization increased to N63.645 trillion from the N62.851 trillion recorded the previous week.
Similarly, the All-Share Index (ASI) depreciated by 1.22% to close the week at 103,598.30 points from the 102,353.68 points recorded the previous week.
The Nigerian equities market began the week on Monday, January 20, 2025, with a profit as investors gained N10.24 billion at the end of the trading session.
The market closed with a profit on Tuesday, January 21, 2025, with a gain of N471.37 billion.
The bears returned to the market on Wednesday, January 22, 2025, as investors lost N185.36bn.
The market sustained the bearish trend on Thursday, January 23, 2025, as investors lost N289.85 billion at the end of the trading session.
The market closed the week on Friday, January 24, 2025, with a profit as investors gained N497.68 billion.
Meanwhile, a total turnover of 3.132 billion shares worth N76.552 billion in 61,456 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.252 billion shares valued at N58.831 billion that exchanged hands last week in 63,657 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.336 billion shares valued at N33.014 billion traded in 27,100 deals; thus contributing 74.59% and 43.13% to the total equity turnover volume and value respectively. The Services industry followed with 284.988 million shares worth N807.646 million in 4,638 deals.
In third place was the Consumer Goods Industry, with a turnover of 139.010 million shares worth N5.704 billion in 6,469 deals.
Trading in the top three equities namely Wema Bank Plc, Secure Electronic Technology Plc and Access Holdings Plc (measured by volume) accounted for 1.437 billion shares worth N15.406 billion in 5,292 deals, contributing 45.89% and 20.13% to the total equity turnover volume and value respectively.
Forty-four (44) equities appreciated in price during the week, higher than thirty-three (33) equities in the previous week. Forty-four (44) equities depreciated in price lower than fifty-seven (57) in the previous week, while sixty-four (64) equities remained unchanged, higher than sixty-two (62) recorded in the previous week.
SCOA Nig Plc recorded the biggest share price increase in percentage gaining 59.68% followed by UPDC Plc which increased its share price by 19.05% in the process.
Coronation Insurance Plc also increased its share price by 15.32%.
On the flip side, Sunu Assurances Nigeria Plc recorded the biggest decline in share prices by percentage shedding 25.11% followed by Eunisell Interlinked Plc which shed 18.95% of its share prices.
John Holt Plc also knocked off 18.47% of its share prices.