By Rukayat Adeyemi
Thank you for reading this post, don't forget to subscribe!Lagos, Sept. 19, 2024 (NAN) — The Nigerian stock market lost N131 billion on Thursday due to heavy selloffs in key stocks, including Guaranty Trust Holding Company (GTCO), FBN Holdings, and Oando Plc. The Nigerian Exchange Ltd. (NGX) market capitalisation fell 0.23%, closing at N56.316 trillion from an opening of N56.447 trillion.
The All-Share Index similarly dropped by 227.2 points, or 0.23%, to 98,003.75 points, down from Wednesday’s 98,230.92 points, bringing the Year-To-Date (YTD) return to 31.07%.
Leading the losers’ chart, Honeywell Flour lost 9.98% to close at N4.87, while FBN Holdings declined by 9.88%, closing at N30.55 per share. Other decliners included UPDC (-9.74%), Secure Electronic Technology (-8.82%), and Tantalizers (-8.82%).
On the flip side, ABC Transport and McNichols led the gainers’ table with a 10% increase each, closing at 99k and N1.65 per share, respectively. UPL gained 9.95%, Fidson Healthcare rose by 9.85%, and Caverton advanced by 9.80%.
Total trade volume surged, with 473.09 million shares worth N11.36 billion exchanged in 9,848 deals, a 50.13% rise in transaction value compared to the previous session. JapaulGold led in volume with 106.66 million shares, while Dangote Cement topped the value chart with transactions worth N4.84 billion.
