Renewed investor interests in MTN Nigeria and Transcorp Hotel stocks, on Monday, May 20, 2024, raised the Nigerian Exchange Limited (NGX) market capitalisation by N29 billion gain.

Other primary drivers of the overall market’s performance included Berger Paints, PZ Cussons, Unity Bank, AIICO Insurance, and Nigerian Breweries, among others.

The market capitalisation which opened at N55,507 trillion, gained N29 billion or 0.05 per cent to close at N55.536 trillion.

The All-Share Index also rose by 0.05 per cent or 51 points to settle at 98,176.58, in contrast to 98,125.73 recorded on Friday.

The Year-To-date (YTD) return equally rose to 31.30 per cent.

However, the market breadth closed negative with 28 losers equities outnumbering 13 gainers

On the losers’ table, Champion led by 10 per cent to close at N2.97, C&I Leasing Plc followed closely by 9.80 per cent to close at N9.80 per share.

Investors lose N132bn at stock market

Sovereign Trust Insurance lost 9.76 per cent to close at 37k, Chams declined by 9.64 per cent to close at N1.50, while RT Briscoe depreciated by 9.62 per cent to close at 47k per share.

Conversely, McNichols Plc led the gainers’ table by 10 per cent to close at N1.10, and Berger Paints trailed by 9.72 per cent to close at N13.55 per share.

Regency Alliance Insurance went up by 9.68 per cent to close at 34k, WAPIC advanced by 6.15 per cent to close at 69k and Cornerstone Insurance gained five per cent to close at N2.10 per share.

Also, the analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 28.98 per cent.

A total of 405.66 million shares valued at N6.69 billion were exchanged in 8,439 deals, as against 140.77 million shares worth N9.42 billion in 6,934 deals traded on Friday.

Access Corporation led the activity table in volume and value with 201.31 million shares valued at N3.41 billion, Transnational Corporation traded 38.21 million shares at N435.75 million.

Zenith Bank sold 15.26 million shares worth N484.71 million, Nigerian Breweries transacted 13.74 million shares valued at N316.28 and Jaiz Bank 13.68 million shares worth N30.22 million.

The Star