NGX WEEKLY ROUNDUP: Investors lose N107bn as equities market buckles under #EndBadGovernance protests

Investors in Nigerian equities market enjoyed a mixed feelings trading week on the floor of the NGX following a loss of N107bn in the just ended trading week.
The bourse recorded losses in three of the five trading days gaining on two trading days as the equities market felt the impact of then#EndBadGovernance protests.
The market capitalisation fell by N107.7bn to N55.50tr from the N55.61trn in the previous week.
Similarly, the All-Share Index (ASI) fell by 2.33% to close at 97, 745.73 from 98, 201.49 points recorded the previous week.
The equities market began the week on a positive note on Monday, July 29, 2024 as investors gained N111bn at the end of trading session.
It went downhill from there.
On Tuesday, July 30, 2024 the equities market reversed the gain made on Monday as investors lost N171bn at the end of trading session
It was the same on Wednesday, July 32, 2024 as investors recorded a loss of N32bn.
READ ALSO:Top 10 stories from across Nigerian Newspapers, Friday, August 2, 2024
On Thursday, August 1st, 2024 investors also lost N235bn at the end of trading session.
The equities market closed the week with a profit on Friday, August 2, 2024 as investors gained N219bn at the end of the trading session culminating in a total loss of N1.32tn for the just ended week.
A total turnover of 3.393 billion shares worth N52.304 billion in 44,814 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.557 billion shares valued at N47.220 billion that exchanged hands last week in 42,871 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.875 billion shares valued at N36.995 billion traded in 23,791 deals; thus contributing 84.73% and
70.73% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 141.927 million shares worth N6.698 billion in 4,476 deals. The third place was taken by the Consumer Goods Industry, with a turnover of 97.306 million shares worth N4.047 billion in 4,179 deals.
Trading in the top three equities namely Fidelity Bank Plc, United Bank for Africa Plc and Zenith Bank Plc (measured by volume) accounted for 2.099 billion shares worth N28.215 billion in 7,603 deals, contributing 61.87% and 53.94% to the total equity turnover volume and value respectively.
PRESCO recorded the biggest share price increase from N383.00 at the beginning of the week to N441.00 gaining N58 followed by TOTAL which increased its share price from N388.90 to N427.70 gaining N38.80 in the process.
OKOMU OIL also increased its share price by N29.20 from N292.00 to N321.20.
On the flip side, NESTLE recorded the biggest decline in share prices losing N90.00 to close the week at N830.00 from the N920.00 it started the week on followed by UCAP which shed N26.80 and ended the week on N12.15 from N38.95 at the start of the week.
NASCON also shed N4.50 to close at N29.50 from N34.00 at the beginning of the week.
By: Babajide Okeowo
The post NGX WEEKLY ROUNDUP: Investors lose N107bn as equities market buckles under #EndBadGovernance protests appeared first on Latest Nigeria News | Top Stories from TVN.