The Nigerian stock market sustained bullish sentiment with N123 billion added to the portfolio of investors on Tuesday, October 22, 2024.

The Nigerian Exchange Limited (NGX) market capitalisation, which opened at N59.801 trillion, gained N123 billion or 0.20 per cent to settle at N59.924 trillion.

The All-Share Index also rose by 0.20 per cent or 202 points, to close at 98,892.58, against 98,690.61 posted on Monday.

Consequently, the Year-To-Date (YTD) return rose to 32.26 per cent.

Gains in Zenith Bank, Guaranty Trust Holding Company (GTCO), FBN Holdings, United Bank for Africa (UBA), and Oando Plc, among other stocks pulled the market performance up.

Market breadth closed positive with 24 gainers and 15 losers on the floor of the Exchange.

Transcorp Hotel led the gainers’ log by 9.28 per cent to close at N106, while WAPIC followed by 9.09 per cent to close at 96k per share.

Stock market investors lose N127bn

UPDC gained 6.90 per cent to close at N1.55, Universal Insurance went up by 5.88 per cent to close at 36k, while ABC Transport advanced by 4.65 per cent to close at N1.35 per share.

On the losers log, JohnHolt led by 9.84 per cent to close at N2.75, and Tantalizers trailed by 9.84 per cent to close at 55k per share.

Dangote Sugar also dropped 8.82 per cent to close at N31, Regency Alliance Insurance shed 7.14 per cent to close at 53k, while Honeywell Flour declined by 5.81 per cent to close at N4.38 per share.

Analysis of the stock market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 9.88 per cent.

A total of 591.01 million shares valued at N24.84 billion were exchanged in 6,987 deals, compared with 405.02 million shares valued at N27.57 billion traded by investors in 8,281 deals recorded previously.

Meanwhile, Champion led the activity log-in volume with 255.28 million, while Seplat led in value of deals worth N19.48 billion.

The Star