Stock market records N278bn loss

Sell-offs, UCAP, Seplat, Investors, MTN, Stock market

The Nigerian stock market capitalisation, on Tuesday, August 13, 2024, extended losses by N278 billion or 0.50 per cent, following selloffs in BUA Cement, Zenith Bank, and FBN Holdings, among other declined equities.

The Nigerian Exchange Limited (NGX) market capitalisation which opened at N55.574 trillion closed at N55.296 trillion.

The All-Share Index also decreased by 0.50 per cent or 491 points to settle at 97,390.01 as against 97,880.94 recorded on Monday.

As a result, the Year-To-Date (YTD) return dropped by 30.25 per cent.

Market breadth also closed negative with 29 losers and 26 gainers on the floor of the Exchange.

On the losers’ table, Oando Plc led by N4.45 to close at N40.20.

Livestock Feed Plc followed by N8.10 to close at N2.27 and Cornerstone Insurance dropped N7.66 to close at N2.17 per share.

Investors lose N404bn at stock market

Linkage Assurance also went down by 7k to close at 85k and Sovereign Trust Insurance declined by 4k to close at 50k per share.

Conversely, Mecure led the gainers’ table by 85k to close at N9.37, while Neimeth International Pharmaceuticals trailed by 19k to close at N2.11 per share.

Champion Breweries Plc rose by 27k to close at N3.04, UPL gained 21k to close at N2.39, while RT Briscoe advanced by 13k to close at N1.52 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 18.23 per cent.

A total of 599.25 million shares valued at N13.92 billion were exchanged in 11,237 deals, compared to 498.27 million shares valued at N11.77 billion traded in 10,645 deals posted previously.

Meanwhile, Guaranty Trust Holding Company (GTTO) led the activity table in volume and value with 72 million shares traded in value of N3.28 billion.

Japaul Gold Group traded 69.62 million shares worth N156.88 million, Access Corporation sold 66.30 million shares valued at N1.29 billion, while Veritas Kapital transacted 60.85 million shares worth N78.21 million.

Oando Plc also traded 41.08 million shares valued at N1.81 million

The Star