Equities Slip by N225bn to Close October’s Trading Activities

Samuel Mobolaji

The Nigerian equities market, yesterday, ended trading activities for the month of October 2024 on a negative side with a decline of N225 billion.

The All-Share Index (ASI) declined by 372.00 points, representing a loss of 0.38 per cent to close at 97,651.23 points. Also, market capitalisation lost N225 billion to close at N59.172 trillion.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Aradel Holdings, Beta Glass, Nigerian Aviation Handling Company (NAHCO), Transnational Corporations (Transcorp) and Dangote Sugar Refinery.

The market breadth, which measures investor sentiment through the gainers/losers ratio closed negative; as 24 stocks appreciated, while 26 stocks depreciated. SUNU Assurance emerged the highest price gainer of 10 per cent to close at N2.09, per share.

Eunisell Interlinked followed with a gain of 9.89 per cent to close at N5.11, while University Press increased by 9.74 per cent to close at N3.38, per share. Cornerstone Insurance rose by 9.60 per cent to close at N2.74, while Prestige Assurance appreciated by 9.26 per cent to close at 59 kobo, per share.

On the other side, Veritas Kapital Assurance and Aradel Holdings led others on the losers’ chart with 10 per cent each to close at N1.44 and N495.10 respectively, while Secure Electronic Technology followed with a decline of 9.09 per cent to close at 60 kobo, per share.

RT Briscoe Nigeria went down by 8.96 per cent to close at N3.05, while Beta Glass depreciated by 7.25 per cent to close at N45.40, per share.

The total volume of trade fell by 0.4 per cent to 536.787 million units, valued at N10.011 billion, and exchanged in 9,053 deals. Transactions in the shares of united Bank for Africa (UBA) led the activity with 74.257 million shares worth N2.199 billion. UACN followed with account of 255.076 million shares valued at N1.187 billion, while Chams Holding Company traded 53.262 million shares valued at N109.720 million.

Jaiz Bank traded 46.011 million shares worth N104.358 million, while Veritas Kapital Assurance traded 40.257 million shares worth N59.314 million.