Equity market records N472bn gain in shortened trading week

The Nigerian equity market recorded a gain of N472bn during the shortened trading week, as the Federal Government declared Wednesday, December 25, and Thursday, December 26, 2024, public holidays for Christmas celebrations.

The All-Share Index appreciated by 0.99 per cent, closing at 102,133.30 points, while the market capitalisation increased to N61.912tn.

Investors traded a total of 1.387bn shares worth N52.023bn in 33,411 deals, a decline compared to the 2.536bn shares valued at N91.382bn traded in 51,406 deals the previous week.

Last week, the financial services industry led the activity chart with 881.646m shares worth N17.774bn in 14,968 deals, accounting for 63.58 per cent and 34.17 per cent of total turnover volume and value, respectively. The oil and gas industry followed with 103.763m shares valued at N12.438bn in 4,554 deals, while the services industry recorded 98.622m shares worth N482.169m in 1,998 deals.

United Bank for Africa Plc, Universal Insurance Plc, and Zenith Bank Plc collectively accounted for 294.032m shares worth N8.117bn in 3,834 deals, representing 21.20 per cent and 15.60 per cent of total turnover volume and value, respectively.

Additionally, last week market performance showed a positive trend as 64 equities appreciated in price, up from 61 in the previous week.

In contrast, 20 equities declined compared to 26 in the prior week, while 69 equities remained unchanged. Ikeja Hotel Plc led the gainers’ chart with a 32.79 per cent increase, closing at N12.15, followed by Multiverse Mining and Exploration Plc, which gained 32.61 per cent to close at N6.10. PZ Cussons Nigeria Plc recorded a 26.09 per cent increase, closing at N29.00.

On the other hand, Thomas Wyatt Nigeria Plc declined by 10.00 per cent, closing at N1.71, while Aradel Holdings Plc dropped 9.64 per cent to close at N600.00. Austin Laz & Company Plc shed 9.29 per cent to close at N1.66.

The NGX Oil and Gas Index was the only laggard, declining by 0.12 per cent, while other indices closed higher. The NGX ASeM and Sovereign Bond indices remained flat.