Business

Stock market rebounds as investors gain N95bn

Breaking three consecutive sessions of losses, the Nigerian stock market rebounds by 0.17 per cent on Wednesday, June 26, 2024, as investors improve interest in Tier-one banking stocks.

Gains in Guaranty Trust Holding Company (GTCO), Zenith Bank, FBN Holding, among other advanced equities, were the primary drivers of the positive performance of the broader index.

Investors gained N95 billion or 0.17 per cent, as the Nigerian Exchange Limited (NGX) market capitalisation which opened at N56.126 trillion, closed at N56.221 trillion.

The All-Share Index also rose by 0.17 per cent or 168 points to close at 99,385.44, compared to 99,217.60 recorded on Tuesday.

As a result, the Year-To-Date (YTD) return rose to 32.91 per cent.

Again, investors lose N49bn at stock market

Market breadth also closed positive with 35 gainers and 23 losers on the floor of the Exchange.

Meanwhile, FTN Cocoa Processors led 34 advanced equities on the gainers’ table by 10 per cent to close at N1.54 per share, while Secure Electronic Technology Plc also led 12 declined equities by 10 per cent to close at 54k per share.

Analysis of the market activity showed that trade turnover settled 33.15 per cent lower than the previous session.

A total of 276.36 million shares valued at N4.12 billion in 7,597 deals were traded, compared to 361.57 million shares worth N6.16 billion in 8,511 deals posted in the previous session.

Also, Access Corporation led the activity chart in volume and value with 45.34 million shares worth N859.40 million.

The Star

Segun Ojo

Recent Posts

Guardiola suffers 5th straight defeat for first time as Spurs thrash Man City 4-0

Manchester City manager Pep Guardiola suffered a fifth straight defeat for the first time in…

6 hours ago

Police recover explosives, foil bomb explosion in Borno

The operatives of the Nigeria Police Force (NPF) have recovered unexploded military ordnances in Maiduguri,…

6 hours ago

Tinubu departs Brazil after G20 summit

President Bola Tinubu has departed Rio de Janeiro in Brazil for Abuja after attending the…

8 hours ago

Fire guts LAUTECH teaching hospital

Fire, on Saturday, November 23, 2024, gutted a section at the Ladoke Akintola University of…

8 hours ago

EPL: Arsenal whip Nottingham Forest as Chelsea defeat Leicester

Bukayo Saka and Thomas Partey scored stunning goals in the Premier League as Arsenal thrashed…

8 hours ago

Wike’s aide slams Reps member Ugochinyere, calls him ‘political hushpuppi’

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

11 hours ago

This website uses cookies.