NGX WEEKLY ROUND-UP: Investors lose N20.75bn as equities market crumble

It was a week to forget for investors in the Nigerian equities market following a cummuative loss of N2.75bn in the just ended trading week.

The bourse recorded loses in three of the five trading days making profits on two trading days.

The market capitalisation fell to N56.58trn from N56.60trn the previous week same as the All-Share Index (ASI) which recorded a -0.04% decline to close at 100,022.03 points, down from 100,057.49 points recorded the previous week.

The equities market started the week on a losing note as investors recorded a loss of N20bn at the end of trading session on Monday, July 1, 2024.

The trend was reversed on Tuesday as investors made a profit of N25bn at the end of trading session on Tuesday, July 2, 2024.

The positive trend continued on Wednesday, July 3, 2024 as investors recorded a profit of N131bn.

Thursday and Friday were not so good for investors as they recorded losses of N133bn and N23bn respectively.

READ ALSO:NGX: Investors begin week with N51b loss as stocks tumble

In terms of volumes of transactions made, CARDINALSTONE SECURITIES LIMITED led the way with 774m worth of stocks traded valued at N11bn followed by FBN QUEST SECURITIES LIMITED which traded a total of 726m equities valued at N7.909bn.

MORGAN CAPITAL SECURITIES LIMITED traded 352m volume of shares valued at N2.300bn.

The NGX Consumer Goods Index dragged the bourse down by 0.69% while the banking index pushed up the bourse by 3.87%.

CONOIL recorded the biggest share price increase from N105 at the beginning of the week to N126.50 gaining N21.50 followed by GUINNESS which increased its share price from N67.00 to N70.00 gaining N3.00 in the process.

GTCO also increased its share price by N2.35 from N45.00 to N47.35.

On the flip side, JULIUS BERGER recorded the biggest decline in share prices losing N9.40 to close the week at N88.60 from the N98.00 it started the week on followed by DANGOTE SUGAR which shed N2.50 and ended the week on N40.50 from N43.00 at the start of the week.

MRS also shed N2.35 to close at N132.65 from N135.00 at the beginning of the week.

By: Babajide Okeowo

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