Investors in the Nigerian stock market have lost a whopping sum of N620bn in the month of October alone.
Trading started the month at a market capitalisation of N13.450tn, dropping to its lowest level of N12.776tn on October 29, then rising to N12.830 on the last day of the month.
At the end of trading on Thursday, the equities market closed in the positive territory as the All Share Index rose by 0.17 per cent to 26,359.27 basis points, following gains posted by Nigerian Breweries Plc, Seplat Petroleum Development Company Plc and Dangote Cement Plc.
Consequently, the year-to-date loss moderated to -16.1 per cent while investors’ wealth appreciated as market capitalisation increased by N21.7bn.
In the same vein, activity level strengthened as both volume and value traded advanced by 121.7 per cent and 275.3 per cent to 347.797 million units and N6.793bn, respectively.
The most active stocks by volume were UBA Group Plc (21.7 million units), MTN Nigeria Communications Plc (21.3 million units) and Transnational Corporation of Nigeria Plc (11.1 million units) while MTN Nigeria (N2.7bn), Zenith Bank Plc (N1.8bn) and Guaranty Trust Bank Plc (N980.5m) led by value.
Performance across sectors was mixed as three sectors recorded gains.
The banking index the led losers, buoyed by price depreciation in GTB and FBN Holdings Plc while the industrial goods and AFR-ICT indices lost 0.6 per cent and 0.1 per cent, respectively, due to losses in Lafarge Africa Plc and MTN Nigeria.
On the flip side, the oil and gas index led the gainers’ chart, up by 4.3 per cent, following buying interest in Seplat.
The consumer goods index advanced by 1.6 per cent due to the price uptick in Nigerian Breweries and Flour Mills of Nigeria Plc.
