Stock market investors lose N168bn

The Nigerian stock market closed the week on a negative note on Friday, November 29, 2024, recording N168 billion loss for investors.

Losses in Seplat, Guaranty Trust Holding Company (GTCO), and Oando Plc, among other declined stocks, dragged the market performance down.

The stock market capitalisation which opened at N59.275 trillion lost N168 billion or 0.28 per cent to close at N59.107 trillion.

The All-Share Index also shed 0.28 per cent or 277 points to close at 97,506.87, against 97,783.81 recorded on Thursday.

As a result, the Year-To-Date return decreased to 30.40 per cent.

Market breadth also closed negative with 26 losers and 22 gainers.

Stock market rebounds as investors gain N306bn

Regency Alliance Insurance led the losers’ table by 5k to close at 46k per share, while Haldane McCall led the gainers’ table by 54k to close at N6.20.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 39.51 per cent.

A total of 515.49 million shares valued at N15.08 billion were exchanged in 7,554 deals, compared with 632.74 million shares valued at N10.81 billion traded in 8,404 deals, posted in the previous session.

Meanwhile, FBN Holdings led the activity chart in volume with 126.02 million shares, while Seplat led in value of deals worth N7.74 billion.

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Segun Ojo

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