The Nigerian equities market sustained the bullish trend recorded last week as investors gained N1.064 trillion on the trading floor of the Nigerian Xchange (NGX) this week.
Ripples Nigeria reports that investors recorded a gain of N794bn the previous week.
The market capitalization increased to N64.709 trillion from N63.645 trillion recorded the previous week.
Similarly, the All-Share Index (ASI) appreciated by 0.87% to close the week at 104,496.12 points from the 103,598.30 points recorded the previous week.
The Nigerian equities market began the week on Monday, January 27, 2025, with a profit as investors gained N794.81 billion at the end of the trading session.
The market closed with a loss on Tuesday, January 28, 2025, as investors lost N284 billion.
The bulls returned to the market on Wednesday, January 29, 2025, as investors gained N364.71bn.
The market sustained the bullish trend on Thursday, January 30, 2025, as investors gained another N347.31 billion at the end of the trading session.
The market closed the week on Friday, January 31, 2025, with a loss as investors lost N159.52 billion.
Meanwhile, a total turnover of 3.245 billion shares worth N69.198 billion in 77,270 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.132 billion shares valued at N76.552 billion that exchanged hands last week in 61,456 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.742 billion shares valued at N32.529 billion traded in 35,372 deals; thus contributing 53.69% and 47.01% to the total equity turnover volume and value respectively.
The Services industry followed with 748.205 million shares worth N1.560 billion in 5,469 deals.
In third place was the Oil and Gas Industry, with a turnover of 264.682 million shares worth N16.786 billion in 10,515 deals.
Trading in the top three equities namely Secure Electronic Technology Plc, FBN Holdings Plc and Japaul Gold and Ventures Plc, (measured by volume) accounted for 998.467 million shares worth N6.604 billion in 4,426 deals, contributing 30.77% and 9.54% to the total equity turnover volume and value respectively.
Fifty-two (52) equities appreciated in price during the week, higher than forty-four (44) equities in the previous week. Forty-four (44) equities depreciated in price same as forty-four (44) in the previous week, while Fifty-four (54) equities remained unchanged, lower than sixty-four (64) recorded in the previous week.
Chellarams Plc recorded the biggest share price increase in percentage gaining 60.44% followed by Vitafoam Nig Plc which increased its share price by 31.48% in the process.
Beta Glass Plc also increased its share price by 20.98%.
On the flip side, Veritas Kapital Assurance Plc recorded the biggest decline in share prices by percentage shedding 29.68% followed by MRS Oil Nigeria Plc which shed 18.96% of its share prices.
Neimeth International Pharmaceuticals Plc also knocked off 14.52% of its share prices.
By: Babajide Okeowo
