By Rukayat Adeyemi
Thank you for reading this post, don't forget to subscribe!Lagos, July 17, 2024 (NAN) – The equity market on Wednesday lost N25 billion due to selloffs in MTN Nigeria, Dangote Sugar, and Guaranty Trust Holding Company (GTCO), among other stocks.
The market capitalisation, which opened at N56.670 trillion, shed N25 billion or 0.04 per cent to close at N56.645 trillion.
Similarly, the All-Share Index dropped 0.04 per cent, or 43.3 points, to close at 100,032.32, compared to 100,075.59 recorded on Tuesday. Consequently, the Year-To-Date (YTD) return slipped to 33.78 per cent.
On the gainers’ side, United Capital led with a 10 per cent increase to close at N36.30. Africa Prudential followed with a 9.88 per cent rise to close at N8.90, while Cutix gained 9.86 per cent to close at N6.13 per share. Oando rose by 5.63 per cent to close at N16.90, and Julius Berger advanced by 4.79 per cent to close at N87.50 per share.
Conversely, RTBRISCOE led the losers’ log with a 5.71 per cent decline to close at 66k. FTN Cocoa Processors trailed by 4.44 per cent to close at N1.72 per share. Tantalizer dropped by 4.26 per cent to close at 45K, Neimeth International Pharmaceuticals shed 3.53 per cent to close at N1.64, and Consolidated Hallmark Plc lost 3.45 per cent to close at N1.40 per share.
Analysis of the market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 35.71 per cent. A total of 1.10 million shares valued at N10.08 billion were exchanged in 8,720 deals, compared to 368.39 million shares valued at N7.42 billion exchanged in 8,151 deals posted previously.
Jaiz Bank led the activity log in volume with 528.49 million shares worth N1.15 billion. Cutix followed with 194.64 million shares worth N1.19 billion. Zenith traded 77.75 million shares valued at N3.11 billion to lead the log in value. Universal Insurance transacted 36.26 million shares worth N12.35 million, and FCMB sold 33.88 million shares worth N257.09 million. (NAN)(www.nannews.ng)
