Stock market investors gain N46bn

Sustained interest in banking stocks, on Tuesday, September 3, 2024, added N46 billion profit to the portfolios of investors in the Nigerian stock market.

Gains in Access Corporation, Guaranty Trust Holding Company (GTCO), Stanbic IBTC, FCMB Group, and Sterling Bank, among other advanced equities, drove the stock market to a positive terrain.

The market capitalisation gained N46 billion or 0.08 per cent from an opening of N55.601 trillion, to close at N55.647 trillion.

The All-Share Index also advanced by 0.08 per cent or 80 points to close at 96,873.74 points in contrast to 96,793.95 points reported on Monday.

As a result, the Year-To-Date return increased by 29.56 per cent.

However, market breadth closed slightly negative with 30 losers and 29 gainers on the floor of the Exchange.

RT Briscoe led the gainers table by 10 per cent to close at N2.88, while Abbey Mortgage Bank trailed by 9.96 per cent to close at N2.53 per share.

Investors gain N123bn at stock market

Secure Electronic Technology also lost 9.72 per cent to close at 65k, McNichols shed 9.68 per cent to close at N1.40, while Tantalizers decreased by 9.23 per cent to close at 59k per share.

Conversely, Industrial Medical Gas, C&I Leasing, and Guinea Insurance led the gainers’ table by 10 per cent each to close at N31.90, N4.07, and 55k per share, respectively.

Eterna Plc also advanced by 9.90 per cent to close at N32.20 per share, while E-transact rose by 9.82 per cent to close at N6.15 per share.

Analysis of the stock market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 5.67 per cent.

A total of 473 million shares valued at N10.41 billion were exchanged in 12,532 deals, compared to 498.12 million shares valued at N11.04 billion traded in 13,149 deals posted in the previous session.

On the activity chart, Access Corporation led in volume with 106.28 million shares worth N2.04 billion, while Oando followed with N46.92 million shares valued at N4.32 billion to lead the chart in value.

Prestige sold 31.74 million shares worth N16.60 million, while United Bank for Africa (UBA) transacted 20.18 million shares valued at N486.80 million.

Transnational Corporation also traded 17.75 million shares worth N194.33 million.

The Star