Investors lose N50bn at stock market

The Nigerian stock market, on Wednesday, September 11, 2024, reversed its previous session’s gain by 0.09 per cent leading to N50 billion loss for investors.

Selloffs in Guaranty Trust Holding Company (GTCO), Oando Plc, Transnational Corporation,  and Julius Berger, among others declined stocks, pulled the market performance down.

The market capitalisation shed from an opening on N55.626 trillion to close at N55.576  trillion.

The All-Share Index also dropped 0.09 per cent or 88 points to close at 96,715.04 points, against 96,802.80 points recorded on Tuesday.

Consequently, the Year-To-Date (YTD) return declined by 29.34 per cent.

Stock market investors gain N46bn

Market breadth closed positive with 32 gainers and 25 losers on the floor of the Nigerian Exchange Limited (NGX).

On the gainers log, Caverton led 31 other advanced stocks by 9.95 per cent to close at N2.10 per share.

On the other side, Computer Warehouse Group (CWG) led 24 other declined stocks on the losers log by 10 per cent to close at N5.40 per share.

Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 33.86 per cent.

Investors exchanged 600.04 million shares valued at N8.81 billion in 9,546 deals in contrast to 406.19 million shares valued at N13.31 billion traded in 12,241 deals posted previously.

On the activity chart, Jaiz Bank led in volume with 237.24 million shares, while Oando led in value in deals worth N2.44 billion.

The Star