Investors at the Nigerian Exchange Limited closed January with the highest loss recorded for the year. Market capitalisation lost N1.07 trillion on Wednesday, January 31 2024.
This is the third loss the market recorded in January following sell-offs that dragged the market down—this month, almost all trading days finished successfully as the investors enjoyed the bullish trend.
On Tuesday, the market lost N857bn as the market cap closed at N56.43tn on the back of sell-offs that pushed the market down.
On January 10, the local bourse recorded its first loss in the New Year as the market cap dipped by about N638bn.
The market cap and All-Share Index depreciated by 1.89% to N55.357tn and 101,154.45 points, respectively.
Top Gainers: Tripple G and PZ Cussons gained 9.97%, while Geregu Power followed with 9.69%
Top Losers: May&Baker, Royal Exchange and Sterling Financial Holding Company Plc, which shed 10%.
Stocks of Transcorp Plc, United Bank for Africa and Geregu led the volume and value drivers of the day’s market trend.
The volume of equities traded was higher at 749.13 million shares, compared to the previous day’s volume of 648.95 million units valued at N22.49bn from 14,288 deals executed.
Read more: https://www.investingport.com/ngx-m...lion-at-the-close-of-january-trading-session/