Stock Market Reverses 4 Days of Losses As Investors Gain N285bn
- The stock market ended the week and month on a positive note after four straight days of losses, as investors gained
- Julius Berger Nigeria, Transnational Corporation, and Access Holdings' performance helped lift the market performance
- Cornerstone Insurance, Guaranty Trust Holding Company, and Access Holdings were among the most actively traded equities
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian equities market ended the week on a positive note after four consecutive days of losses.
Data shows that the benchmark NGX All-Share Index (ASI) rose by 0.29% on Friday, October 31, the last trading day for the month, to close at 154,126.45 points, compared to 153,676.66 points in the previous session.
Source: Getty Images
At the end of trading, Investors gained N285.48 billion as market capitalisation increased to N97.83 trillion, while the year-to-date (YTD) return improved to 49.74%.
Market performance summary
- NGX All-Share Index: 154,126.45 points (+0.29%)
- Market capitalisation: N97.83 trillion (+N285.48 billion)
- YTD return: 49.74%
Volume and value traded
The total volume of transactions surged by 553.57 % to 5.20 billion shares, valued at N45.16 billion, across 30,598 deals.
Cornerstone Insurance dominated trading, contributing 89.99% of total market volume, followed by Guaranty Trust Holding Company and Access Holdings, which accounted for 1.28% and 0.90%, respectively.
By value, Cornerstone Insurance accounted for 49.01% of total trades, trailed by Guaranty Trust Holding Company and Aradel Holdings.
Source: Getty Images
Top gainers:
- The Federal Government of Nigeria Sovereign Sukuk 2027 Series 3 Bond rose from N78.00 to N94.93, representing a 21.71% increase.
- Julius Berger Nigeria Plc gained 10.00%, rising from N138.00 to N151.80.
- Learn Africa Plc advanced by 10.00%, from N5.90 to N6.49.
- Cornerstone Insurance Plc appreciated by 9.82%, moving from N5.60 to N6.15.
- ASO Savings and Loans Plc climbed 9.57%, from N0.94 to N1.03.
Top losers:
- McNichols declined by 10.00%, falling from N3.30 to N2.97
- Eterna Plc also dropped 10.00%, from N40.00 to N36.00.
- Deap Capital Management and Trust Plc lost 10.00%, sliding from N1.90 to N1.71.
- Sunu Assurances Nigeria Plc shed 9.98%, decreasing from N5.01 to N4.51.
- Legend Interiors Plc fell 9.93%, from N5.84 to N5.26.
Most active stocks:
- Cornerstone Insurance: 4.68 billion shares worth N22.13 billion
- Guaranty Trust Holding Company: 66.44 million shares worth N5.94 billion
- Access Holdings: 46.60 million shares worth N1.11 billion
- Oando Plc: 32.10 million shares worth N1.57 billion
- Universal Insurance: 27.52 million shares worth N31.95 million
CBN MPC members speak on naira
Earlier, Legit.ng reported that members of the Monetary Policy Committee (MPC) projected that the naira’s stability would persist in the medium term.
Bala Moh’d Bello, an MPC member, said speculative activities had declined significantly, fostering transparency and market-based price discovery.
He added that Nigeria’s external reserves, which stood at $40.11 billion in mid-July, were sufficient to cover about 9.5 months of imports.
Source: Legit.ng
