Investors gain N74bn at stock market

Sell-offs, UCAP, Seplat, Investors, MTN, Stock market

To end the week, the stock market, on Friday, October 11, 2024, rebounded from previous losses, adding N74 billion to the portfolios of investors.

Investors’ interest in MTN Nigeria, FBN Holdings, Guaranty Trust Holding Company (GTCO), and other equities lifted the market.

The stock market capitalisation opened at N56.014 trillion, adding N74 billion or 0.13 per cent to close at N56.088 trillion.

The All-Share Index also advanced by 0.13 per cent, or 129.44 points, closing at 97,606.63, compared to 97,477.19 recorded on Thursday.

As a result, the Year-To-Date (YTD) return increased by 30.54 per cent.

The market breadth closed positive, with 31 gainers and 19 losers on the floor of the Exchange.

On the gainers’ chart, Consolidated Hallmark Plc and Sterling Nigeria led by 9.45 per cent each to close at N1.39 and N4.98 per share respectively.

Stock market transactions decline by 33.09%

Mecure followed by 9.19 per cent to close at N10.10, Regency Alliance Insurance gained 9.09 per cent to close at 72k, while Fidson Healthcare Plc increased by 8.24 per cent to close at N15.10 per share.

Conversely, Deap Capital Management and Trust led the losers’ chart by 9.93 per cent to close at N1.36, while NEM Insurance trailed by 9.71 per cent to close at N7.90 per share.

Daar Communications also lost 9.52 per cent to close at 57k, Tantalizers shed 9.09 per cent to close at 60k, while Dangote Sugar declined by 3.31 per cent to close at N31 per share.

Analysis of the stock market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 20.33 per cent.

A total of 304.43 million shares valued at N5.60 billion were exchanged in 6,950 deals, compared with 277.75 million shares valued at N4.65 billion in 7,091 deals traded in the previous session.

Meanwhile, Access Corporation led the activity chart in volume and value with 68.26 million shares valued at N1.34 billon.

The Star