MTNN, Oando lift market domestic equities gain N60bn
Agency Report
Nigerian equity market on Tuesday closed in an upward direction, appreciating by N60 billion as gain recorded in medium and highly capitalised stocks boosted market activities
Market capitalization of listed equities appreciated by 0.10 per cent to N59.531 trillion from N59.471 trillion it closed on Monday.
The NGX All Share Index increased by 99.45 basis points to 98206.97 points from 98107.52 points traded the previous day.
The positive performance recorded during the day way driven by gain in the shares of MTN Nigeria, Conoil Plc, Nestle Nigeria Plc, Northern Nigeria Flour Mills, Oando Plc and among others
As a result year to date return moved up to 31.34 per cent as 32 companies closed trading for the day in green while 22 firms took negative direction.
A review of transactions during the day showed that Gold Breweries led gainers table with 9.93 per cent to N6.53 per unit, Guinea Insurance followed with a gain of 9.80 per cent to N0.56 per share, Tantalizer added 9.77 per cent to close at N1.46 per share, Afriprudential gained 9.70 per cent to close at N13.00 while ABCTransport gained 9.65 per cent to close at N1.25 per unit.
On the contrary, JohnHolt topped losers chart, dropping 9.96 per cent to N7.23 per unit, HMCALL trailed with a loss of 9.91 per cent to close at N5.27 per shares; Morison industry dipped by 9.89 per cent to close at N4.01 per unit, UPDC REIT fell by 5.83 per cent to close at N4.85 per share.
Volume of activities went up by 503.37 basis points, representing 115.44 per cent as investors traded 939.409 million shares valued at N12.813 billion in 9098 deals against 436.039 million shares cost N12.864 billion in 9489 deals.
Trading activities in the shares of Wapic Insurance led market activities with 457.639 million shares valued at N503.805 million, Sterling Bank followed with account of 138.432 million worth N677.465 million, Japaul Gold traded 30.345 million shares cost N66.875 million, United Bank for Africa exchanged 28.724 million shares worth N962.567 million while MTN Nigeria exchanged 24.682 million shares valued at N4.321 billion.
