Investors’ buy-interest in MTN Nigeria, 50 others lift equities market by N542bn
Positive sentiments persisted on the equities market of the Nigeria Exchange Limited (NGX) on Thursday as investors’ buy-interest in MTN Nigeria Communications (MTNN) Plc and 50 others triggered a N542 billion increase.
Eventually, the All Share Index (ASI) gained by 995.70 basis points or 1.55 per cent to close at 65,263.06 basis points. Also, market capitalisation gained N542 billion to close at N35.515 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTNN, Nigerian Breweries, NASCON Allied Industries, Dangote Sugar Refinery and Access Holding.
As measured by market breadth, market sentiment was largely positive, as 51 stocks gained relative to 10 losers. Nigerian Breweries, PZ Cussons Nigeria and Sterling Financial Holdings Company recorded the highest price gain of 10 per cent each to close at N41.80, N18.15 and N3.63 respectively, per share.
Chellaram followed with a gain of 9.96 per cent to close at N3.09, while Dangote Sugar Refinery rose by 9.95 per cent to close at N35.90, per share.
On the other hand, Eterna led the losers’ chart by 9.83 per cent to close at N23.40, per share. John Holt followed with a decline of 9.82 per cent to close at N1.47, while Thomas Wyatt Nigeria declined by 9.40 per cent to close at N1.06, per share.
McNichols depreciated by 9.33 per cent to close at 68 kobo, while Courteville Business Solutions declined by 9.09 per cent to close at 60 kobo, per share.
Also, the total volume traded advanced by 34.6 per cent to 445.28 million units, valued at N5.09 billion, and exchanged in 7,095 deals.
Transactions in the shares of Sterling Financial Holdings Company topped the activity chart with 69.452 million shares valued at N238.094 million. FCMB Group followed with 33.333 million shares worth N217.816 million, while Access Holding traded 32.985 million shares valued at N568.982 million.
Japaul Gold & Ventures traded 28.366 million shares valued at N28.847 million, while Fidelity Bank sold 27.551 million shares worth N219.595 million.
