Stock Market
By Victory Oghene
Three days after The Nigerian equity market closed on a negative note, with the All Share Index declining by 0.72 per cent to settle at 97,881.75 points, investors have lost N108bn at the stock market.
The stock market maintained its losing streak for the third consecutive session as the value of transactions by equity investors declined by 60.62 per cent on Wednesday, August 14, 2024.
The investors exchanged a total of 315.30 million shares valued at N5.48 billion in 8,365 deals, against 599.25 million shares valued at N13.92 billion traded in 11,237 deals recorded on Tuesday, August 13.
As a result, the market capitalisation which opened at N55.296 trillion, shed N108 billion or 0.20 per cent to close at N55.188 trillion.
The All-Share Index also lost 0.20 per cent or 190.4 points to close at 97,199.6, compared to 97,390.01 posted in the previous session.
Consequently, the Year-To-Date (YTD) return fell to 30.06 per cent.
Meanwhile, bearish sentiment in Transnational Corporation (Transcorp), Guaranty Trust Holding Company (GTCO), and Fidelity Bank, among other declined equities pulled the market down.
Market breadth also closed negative with 25 losers and 22 gainers on the floor of the Exchange.
On the losers’ log, Oando Plc led by 9.95 per cent to close at N36.20 per share, while Guinea Insurance led the gainers’ log by 10 per cent to close at 44k per share.
Closing the session, Veritas Kapital led the activity log in volume with 38.42 million shares, while GTCO led in value of N1.65 billion.
