Stock Market Loss Moderated as Investors Gain N25 Billion

Stock Market Loss Moderated as Investors Gain N25 Billion

Stock market year-to-date loss moderated as investors gain N25 billion on Friday, raised Nigerian Exchange (NGX) market capitalisation to N20.552 trillion as sentiment improved.

Consequently, the NSE All-Share Index expanded by 0.72% with month-to-date return and year-to-date returns printing at -0.88% and -1.96%, respectively. 

The sectorial performance was ended outrightly positive this week following buying interests in the Insurance (+3.97%), Industrial (+0.78%), Banking (+3.72%), Oil & Gas (+0.10%), and Consumer (+0.32%) sectors.

Also, All-Share Index appreciated by 46.61 points or 0.12 per cent to 39,431.57 in contrast with 39,382.96 reported on Tuesday.

An analysis of the price movement table indicates that Eterna led the gainers’ table in percentage terms, gaining 10 percent to close at N6.60 per share.

ABC Transport followed with 8.82 percent to 37k, while Wema Bank gained 5.45 percent to 58k per share.

United Capital increased by 2.43 percent to N5.90, while Access Bank inched higher by 1.19 percent to N8.50 per share.

Conversely, Japaul Gold led the losers’ chart in percentage terms, declining 6.78 percent to 55k per share. Mutual Benefits trailed with 4.76 percent to close at 40k, while Transcorp was down by 4.49 percent to 85k per share.

Guaranty Trust Bank dipped 0.17 percent to close at N29.50 per share. However, the volume of shares traded closed lower by 96.61 per cent with an exchange of 10.05 million shares valued at N177.84 million in 746 deals.

This was against a total of 296.59 million shares worth N3.36 billion achieved in 4,265 deals on Tuesday. Mutual Benefits was the toast of investors exchanging 3.16 million shares valued at N1.28 million.

Zenith Bank came second accounting for 1.85 million shares worth N43.12 million, while Access Bank traded 850,67 valued at N7.18 million. Mansard sold 804,800 shares worth N736,245, while Transcorp accounted for 701,183 shares valued at N599,550.

Stock Market Loss Moderated as Investors Gain N25 Billion