Business

Investors lose N671bn at stock market

The Nigerian stock market, on Thursday, October 3, 2024, took a further dip, losing N671 billion due to sell-offs in Dangote Cement and Tier-one banking stocks.

The Nigerian Exchange Limited (NGX) market capitalisation dropped by N671 billion, or per cent, closing at N55.777 trillion, down from N56.448 trillion.

The All-Share Index also declined by 1.19 per cent to settle at 97,064.42, compared to 98,232.39 recorded on Wednesday, October 2

As a result, the Year-To-Date return fell to 29.81 per cent.

Losses in Dangote Cement, Dangote Sugar, Zenith Bank, FBN Holdings, and Transnational Corporation, among others, drove the market into negative territory.

Market breadth ended negative, with 28 stocks declining and 23 gaining.

Dangote Cement and McNichols led the losers’ table by 10 per cent each, to close at N478.80 and N1.35 per share, respectively.

Secure Electronic Technology Plc followed by 7.58 per cent to close at 61k, while UPDC Real Estate Investment lost 4.72 per cent to close at N5.05 per share.

Stock market investors lose N187bn

Computer Warehouse Group also dropped 4.62 per cent to close at N6.20 per share.

Conversely, Seplat led the gainers’ table by 10 per cent to close at N4,513.40, while Livestock Feed Plc trailed by 9.93 per cent to close at N2.99 per share.

Regency Alliance Insurance gained 9.76 per cent to close at 90k, Caverton rose by 9.63 per cent to close at N2.39, while Axa Mansard added 7.82 to close at N5.93 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 20.02 per cent.

Investors traded 268.39 million shares valued at N6.76 billion in 8,565 deals, compared with 425.76 million shares valued at N8.45 billion exchanged in 11,954 deals, posted in the previous session.

On the activity chart, the United Bank for Africa (UBA) led in volume with 37.09 million, while Seplat Energy led in value with deals worth N2.34 billion.

The Star

Segun Ojo

Recent Posts

Christmas: Let’s be instruments of peace, Uba Sani urges Christians

Kaduna State Governor Uba Sani has felicitated Christians in the state, urging them and other…

7 hours ago

Zenith Bank, Int’l Breweries, NNPC, Others Shine at 2024 SERAS Awards

It was a night of glitz, glamour and celebration at the 18th edition of the…

20 hours ago

Tinubu felicitates Christians on Christmas, says Nigeria on path of restoration

President Bola Tinubu has felicitated Christians on Christmas celebration in the country, saying the nation…

20 hours ago

Uba Sani inaugurates 12 road projects on Xmas Eve

Governor Uba Sani has inaugurated 12 asphaltic roads  within Kaduna metropolis on Tuesday, 10 months…

21 hours ago

Court sends oil magnate to prison for diverting $26m refinery fund

A Federal High Court sitting in Abuja has remanded the Founder and Chairman of Platform…

21 hours ago

Minister’s aide to MURIC: Wike not running FCTA based on religion

Lere Olayinka, Senior Special Assistant on Public Communications and New Media to the Federal Capital…

22 hours ago

This website uses cookies.