The Nigerian Stock Exchange (NGX) experienced a significant loss of ₦83 billion between September 2 and 6, 2024, as both the All-Share Index (ASI) and market capitalization depreciated by 0.15 percent.
The ASI closed at 96,433.53 points, while the market capitalization settled at ₦55.39 trillion, primarily due to sell-offs in major stocks.
Despite the overall bearish trend, the NGX Oil and Gas Index stood out, posting a 1.52 percent gain during the week.
In terms of trading activity, 2.14 billion shares worth ₦51.22 billion were traded across 55,603 deals, marking a decline from the previous week’s 2.82 billion shares valued at ₦53.048 billion in 50,488 deals.
The financial services industry led in turnover, accounting for 1.23 billion shares valued at ₦19.98 billion, representing 57.40 percent of total equity turnover volume and 39 percent of value.
The oil and gas industry followed with 262.484 million shares traded for ₦18 billion in 14,275 deals, while the service industry ranked third, with 155.587 million shares valued at ₦532.94 million in 3,558 deals.
Access Holdings Plc, Oando Plc, and Zenith Bank Plc emerged as the top three equities by volume, collectively contributing 24.16 percent of the total equity turnover volume and 47.75 percent of the value.
Throughout the week, trading volumes fluctuated, starting with 498.119 million shares valued at ₦11.037 billion on Monday, then dropping to 473.004 million shares on Tuesday.
Wednesday saw further declines with 389.232 million shares, while Thursday saw slight gains, and the week ended with 392.509 million shares traded on Friday.
In terms of performance, 36 equities appreciated, down from 46 the previous week, while 46 stocks declined, higher than the prior week’s 26. A total of 69 equities remained unchanged.
Top gainers included Industrial & Medical Gases Nigeria Plc, up 32.58 percent to ₦35.00, and Berger Paints Plc, which rose 31.12 percent to ₦18.75. ETranzact International Plc climbed 20.59 percent to ₦6.15.
On the downside, RT Briscoe Plc led the losers, dropping 27.61 percent to ₦2.57, followed by FTN Cocoa Processors Plc, which fell 18.38 percent to ₦1.51.
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