NSE market indicators advance further by 0.58% on MTNN rally

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Lagos, Jan. 30, 2021 The Nigerian Stock Exchange (NSE) market indices on Friday advanced further by 0.58 per cent following gains made by some blue chip companies.

Speficially, the NSE All-Share Index rose by 243.25 points or 0.58 per cent to close at 42,412.66 from 42,169.41 posted on Thursday.

Similarly, the market capitalisation inched higher by N127 billion or 0.58 per cent to N22.186 trillion from N22.059 trillion reported on Thursday.

A breakdown of the price movement table shows that MTN Nigeria Communications led the gainers’ table, appreciating by N6 to close at N181per share.

Ardova followed with N1.50 to close at N19, while Vitafoam improved by 65k to close at N10.05 per share.

Guaranty Trust Bank added 50k to close at N34.50, while Dangote Sugar garnered 40k to close at N21.25 per share.

Conversely, Stanbic IBTC topped the losers’ chart, dropping by N1.60 to close at N45 per share.

CAP trailed with 50k to close at N20, while Lafarge Africa dipped by 30k to close at N30 per share.

Guinness lost 20k to close at N19, while Trans Express declined by 11k to close at oak per share.

Union Bank dominated the activity chart, exchanging 76.15 million shares valued at N441.90 million.

Transcop sold 72.68 million shares worth N75.47 million, while Japaul Gold traded 58.596million shares valued at N55.45 million.

FBN Holdings accounted for 58.32 million shares worth N442.72 million, Zenith Bank sold 44.96 million shares valued at N1.23 billion.

Also, the volume of shares traded increased by 20.63 per cent as investors bought and sold 669.88 million shares valued at N6.59 billion in 6,663 deals.

This was against 555.32 million shares worth N5.76 billion exchanged in 6,386 deals on Thursday.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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