Investors gain N20bn at stock market

The value of transactions on the floor of the Nigerian stock market, on Friday, July 19, 2024, advanced by 9.98 per cent compared to the previous session, closing the week on a positive note.

Specifically, 603.88 million shares valued at N9.16 billion were exchanged in 9,988 deals, compared to 392.80 million shares valued at N8.33 billion traded in 9,013 deals recorded on Thursday.

Demand for MTN Nigeria, Transnational Corporation, Fidelity Bank, First City Monument Bank (FCMB), and United Capital, among other equities, drove the market’s positive performance.

As a result, investors gained N20 billion or 0.04 per cent, with market capitalisation closing at N56.928 trillion, up from N56.908 trillion.

The All-Share Index also rose by 0.04 per cent or 36.3 points to settle at 100,539.40, compared to 100,503.21 previously.

Investors gain N263bn as Airtel, UCAP raise stock market capitalisation

However, market breadth closed negative with 29 laggards and 17 gainers on the floor of the Exchange.

Cutix led 28 other declined equities on the losers’ chart by 8.55 per cent to close at N5.99, and Sovereign Trust Insurance led 16 other advanced equities the gainers’ chart by 4.26 per cent to close at 49k per share.

Meanwhile, FCMB led the activity chart in volume with 114.12 million shares valued at N896.12 million, Jaiz Bank followed with 103.35 million shares worth N224.52 million.

UCAP sold 56.76 million shares worth N2.29 billion to lead the chart in value, GTCO traded 37.55 million shares valued at N1.70 billion, and Universal Insurance transacted 33.35 million shares worth N11.36 million.

The Star