NGX WEEKLY ROUND-UP: Investors gain N320.84bn as equities market soars

Investors in Nigerian equities market enjoyed a bullish run on the floor of the NGX following a profit making of N320.84bn in the just ended trading week.

The bourse recorded gains in four of the five trading days losing on just one trading day.

The market capitalisation rose by N320.84bn to N56.93trn from N56.44trn in the previous week.

Similarly, the All-Share Index (ASI) surged by +0.87% to close at 100,539.40 points from 99,671.28 points recorded the previous week.

The equities market got off to a positive start on Monday July 15, 2024 as investors gained N172bn at the end of the trading session.

The trend continued on Tuesday, July 16, 2024 as investors gained another N62bn.

The trend was however reversed on Wednesday, July 17, 2024 as investors recorded a loss of N24bn.

The equities market returned to positive note on Thursday, July 18, 2024 as investors lost N262bn at the end of trading session.

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The equities market closed the week positively on Friday, July 19, 2024 as investors gained N20bn at the end of the trading session culminating in a total profit of N320.84bn for the just ended week.

In terms of volumes of transactions made, FINMAL FINANCE COMPANY LIMITED led the way with 1.199bn volume of stocks valued at N2.997bn followed by VALM VALMON SECURITIES LTD which traded a total of 403m equities valued at N2.667bn.

CARDINALSTONE SECURITIES LIMITED traded 390m volume of shares valued at N8.358bn.

The NGX Insurance Index dragged the bourse down by 4.86% while the NGX Pension Index pushed up the bourse by 1.11%.

AIRTELAFRI recorded the biggest share price increase from N2,100 at the beginning of the week to N2, 200 gaining N100 followed by PRESCO which increased its share price from N369.00 to N383.00 gaining N14.00 in the process.

UCAP also increased its share price by N12. 50 from N28.40 to N40.55.

On the flip side, VITAFOAM recorded the biggest decline in share prices losing N2.20 to close the week at N19.00 from the N21.20 it started the week on followed by NGX GROUP which shed N1.95 and ended the week on N21.35 from N23.30 at the start of the week.

VITAFOAM also shed N1.15 to close at N19.00 from N21.20 at the beginning of the week.

By: Babajide Okeowo

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