Stock market records N197bn gain

The Nigerian stock market extended its positive momentum on Tuesday, October 15, 2024, posting a 0.33 per cent gain.

This gain added N197 billion to investors’ portfolios.

The stock market capitalisation, which opened at N59.510 trillion, closed higher at N59.707 trillion.

The All-Share Index (ASI) also rose by 0.33 per cent, advancing by 326 points to close at 98,540.93, compared to 98,215.13 recorded on Monday.

As a result, the Year-To-Date (YTD) return increased to 31.79 per cent.

The market’s upward movement was driven by gains in key equities, including Guaranty Trust Holding Company (GTCO), Access Corporation, and Oando Plc.

Naira trades N1,658/$ at official market

However, the market breadth closed negative with 28 losers and 15 gainers.

On the losers’ side, Caverton led 27 other declined stocks by 10 per cent to close at N2.34 per share, while Champion led 14 other advanced stocks to close at N3.42 per share.

Analysis of the stock market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 36.07 per cent.

A total of 286.04 million shares valued at N26.82 billion were exchanged in 9,650 deals, compared with 304.97 million shares valued at N19.71 billion traded in 8,083 deals posted previously.

Meanwhile, Access Corporation led the activity log-in volume with 45.95 million shares, while Seplat led the chart in value with deals worth N1.18 billion.

The Star