• Tuesday, May 28, 2024
businessday logo


Nigeria stock investors seen recouping losses

stock market

Investors in Nigeria’s equities market are gradually recouping previous losses following increased bargains in the later part of month ended September 30.

More investors are hunting for value in the stock market as yields in the fixed income space remain unattractive. The stock market ended the third quarter (Q3) trading session well.

For the first time lately, the stock market is closing in on cancelling its negative year-to-date (YtD) return which printed low at -0.02percent, thanks to stocks that fuelled about N117billion gained on Wednesday September 30.

Total Nigeria Plc led the gainers table after its share price moved from N88 to N96.8, adding N8.8 or 10 percent. It was followed by Dangote Cement Plc which increased from N139 to N142.9, adding N3.9 or 2.81percent.

Also on the bargain list include MTNN Plc which increased from N127.5 to N129, up by N1.5 or 1.18 percent; GTBank Plc which rose from N27.05 to N28.05, adding N1 or 3.70 percent and UACN Plc which rose from N6.35 to N6.95, after adding 60kobo or 9.45 percent.

In the month of September alone, the market appreciated by 5.96 percent.

At the close of trading session on Wednesday, the Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.85percent, from preceding day low of 26,611.96 points to 26,831.76 points

Likewise, the value of listed stock increased from N13.907trillion to N14.024trillion, up by N117billion.

In 4,046 deals investors exchanged 322,773,035 units valued at N4.039billion.