Last Updated on 11 October 2024 by Naijadazz
The Nigerian equity market experienced a downturn in trading activity for the week of August 12-16, 2024. Total equity turnover fell to 2.033 billion shares worth N42.155 billion across 45,157 deals, marking a significant decrease from the previous week’s figures of 2.679 billion shares valued at N49.017 billion in 47,451 deals.
During this five-day trading period, the Financial Services Industry led the equity activity chart, accounting for 67.73% of the total equity turnover volume and 60.85% of the value. This sector saw 1.377 billion shares worth N25.652 billion changing hands in 20,132 deals. The Oil and Gas Industry followed with 276.729 million shares valued at N6.026 billion traded in 6,848 deals, while the Services Industry came third with a turnover of 101.217 million shares worth N682.062 million in 2,475 deals.
Three equities stood out in terms of trading volume: Guaranty Trust Holdings Company Plc, Veritas Kapital Assurance Plc, and Japaul Gold & Ventures Plc. Collectively, these entities accounted for 674.233 million shares worth N16.055 billion across 3,977 deals, representing 33.16% of the total equity turnover volume and 38.08% of the value.
A day-by-day breakdown of the week’s equity trading activity reveals fluctuating patterns:
- Monday, August 12: 10,645 deals, 498.27 million shares, N11.77 billion
- Tuesday, August 13: 11,237 deals, 599.25 million shares, N13.92 billion
- Wednesday, August 14: 8,365 deals, 315.30 million shares, N5.48 billion
- Thursday, August 15: 7,233 deals, 271.26 million shares, N3.52 billion
- Friday, August 16: 7,677 deals, 348.95 million shares, N7.46 billion
The week saw mixed performance in equity movements. Monday saw 29 stocks advance while 20 declined. Tuesday had 26 advancers and 29 decliners. On Wednesday, 22 stocks advanced and 25 declined. Thursday recorded 14 advancers and 31 decliners, while Friday closed with 23 advancing stocks and 22 declining.
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