The domestic bourse reversed its previous session’s gain on Monday, August 12, 2024, recording a loss of N404 billion or 0.72 per cent for stock market investors.
The market’s decline was primarily driven by losses in major stocks, including BUA Cement and Tier-one banks such as Zenith Bank and Guaranty Trust Holding Company (GTCO).
The Nigerian Exchange Limited (NGX) market capitalisation closed at N55.574 trillion, down from its opening value of N55.978 trillion.
The All-Share Index also decreased by 0.72 per cent, shedding 711.2 points to close at 97,880.94, compared to 98,592.12 recorded on Friday.
As a result, the Year-To-Date (YTD) return dropped to 30.90 per cent.
Investors gain N270bn at stock market
In spite of the overall decline, market breadth remained positive with 29 gainers and 20 losers on the Exchange.
On the gainers chart, Julius Berger led by 10 per cent to close at N121 per share, while BUA Cement led the losers chart by 9.93 per cent to close at N114.30 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 44.11 per cent.
A total of 498.27 million shares valued at N11.77 billion were exchanged in 10,645 deals, compared to 477.44 million shares valued at N8.17 billion traded in 9,529 deals posted in the previous session.
Meanwhile, GTCO led the activity chart in volume and value with 123.92 million shares worth N5.66 billion.
The Coca-Cola Company has announced plans to invest $1 billion in Nigeria over the next…
President Bola Tinubu has reiterated his administration’s commitment to creating a robust financial system and…
Frontline youth leaders under the auspices of over 60 youth organisations have declared their members…
President Bola Tinubu will not attend the 79th United Nations General Assembly (UNGA) session in…
The National Examinations Council (NECO) has summoned 40 schools for their alleged involvement in malpractice…
The National Examinations Council (NECO) has released the June/July 2024 Senior School Certificate Examination (SSCE)…
This website uses cookies.