Stock market continues bullish trend as investors gain N183bn

The Nigerian stock market continued its bullish trend on Wednesday, December 11, 2024, with investors gaining N183 billion.

The Nigerian Exchange Limited (NGX) capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.

The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.68, against 98,206.97 recorded on Tuesday.

Consequently, the Year-To-Date (YTD) return increased to 31.74 per cent.

Gains in Aradel Holdings, Zenith Bank, United Bank for Africa (UBA), Oando Plc, and Nigerian Breweries, among other advanced equities, increased the market performance.

Market breadth closed positive with 34 gainers and 17 losers.

On the gainers’ chart, Africa Prudential, Conoil, and RT Briscoe led by 10 per cent each to close at N14.30, N352, and N2.42 per share, respectively.

MTN, Oando, others raise stock market by N60bn

Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.

On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, while Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.

Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95, and Honeywell Flour shed 5.62 per cent to close at N4.70 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 49.44 per cent.

A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.

Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.

The Star