The Nigerian stock market, on Thursday, September 12, 2024, rebounded with N178 billion profit, following gains from Tier-one banks, as well as some large and medium capitalised stocks.
Investors’ renewed interest in Guaranty Trust Holding Company (GTCO), FBN Holdings, Access Corporation, Nestle, Transnational Corporation, and Oando Plc, among other advanced equities, drove the market up.
The market capitalisation, having opened at N55.576 trillion, added N178 billion or 0.32 per cent to close at N55.754 trillion.
The All-Share Index also rose by 0.32 per cent or 310 points to settle at 97,025.17 points, against 96,715.04 points recorded on Wednesday.
Consequently, the Year-To-Date (YTD) return rose by 29.76 per cent.
Market breadth also closed positive with 27 gainers and 22 losers on the floor of the Exchange.
On the gainers’ chart, FBN Holdings and Caverton led by 10 per cent each to close at N26.40 and N2.31 per share, respectively.
Investors lose N50bn at stock market
Flour Mill trailed closely by 9.99 per cent to close at N49.55,RT Briscoe gained 9.93 per cent to close at N3.32, while Nestle advanced by 9.88 per cent to close at N890 per share.
On the losers’ chart, Daar Communications led by 8.86 per cent to close at 72k, while Eterna Plc followed by 8.14 per cent to close at N32.15 per share.
Universal Insurance lost 7.69 per cent to close at 36k, Sovereign Trust Insurance declined by 5.97 per cent to close at 63k, and International Breweries shed 5.32 per cent to close at N4.45 per share.
Analysis of the stock market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 9.44 per cent.
390.55 million shares valued at B7.97 billion were exchanged in 9,615 deals, compared to 600.04 million shares valued at N8.81 billion in 9,546 deals traded in the previous session.
Meanwhile, Access Corporation led the activity chart in volume and value with 80.05 million shares traded in deals worth N1.48 billion.
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