MTN, Oando, others raise stock market by N60bn

The stock market rebounded from its previous trading session’s loss, adding N60 billion as investors renewed interest in MTN Nigeria, Oando Plc, Access Corporation, and other advancing equities on Tuesday, December 10, 2024.

The stock market capitalisation, which opened at N59.472 trillion, rose by N60 billion or 0.10 per cent to close at N59.532 trillion.

The All-Share Index also gained 0.10 per cent, increasing by 99.45 points to settle at 98,206.97, compared to 98,107.52 recorded on Monday.

As a result, the Year-To-Date (YTD) return improved to 31.34 per cent.

Market breadth also closed positive, with 36 gainers and 21 losers.

On the gainers’ chart, Golden Guinea Breweries Plc led by 59k to close at N6.53, while Guinea Insurance followed by 5k to close at 56k per share.

Tantalizers added 13k to close at N1.46, Africa Prudential gained N1.15 to close at N13, while ABC Transport advanced by 11k to close at N1.25 per share.

Stock market records N62bn loss

Conversely, JohnHolt led the losers’ table by 80k to close at N7.23, while Haldane McCall trailed by 58k to close at N5.27 per share.

Morison lost N4.01 to close at N4.01, Wapco declined by N5.50 to close at N65, and UPDC Real Estate Investment Trust shed 30k to close at N4.85 per share.

Analysis of the stock market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 0.40 per cent.

A total of 939.41 million shares valued at N12.81 billion were exchanged in 9,098 deals, compared with 436.04 million shares valued at N12.86 billion traded in 9,489 deals, posted previously.

Wapic led the activity chart in volume with 457.64 million shares, while MTN led in value of deals worth N4.32 billion.

The Star