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    MTN Nigeria and 13 Others Sustain Equity Market Rally by 0.12%

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    The Nigeria equity market sustained the previous day’s positive sentiment as the market performance indicators (NGX-ASI and Market Capitalization) rallied by 0.12 percent.

    The surge in the market indices was impacted by price appreciation in MTNN and some other medium capitalized stocks, despite the decline in three major indices of the market.

    In summary, the All-Share Index rose by 47.84bps, representing a 0.12 percent increase to close at 38,968.34. While the Market Capitalization gained ₦24.93 bn, representing a growth of 0.12 percent to close at ₦20.30 trillion.

    → In the meantime, the market activities were mixed, as the total volume traded dipped by 38.11 percent, while the total value traded rose by 58.27 percent.

    A total of 141.41 million units of shares valued at ₦2.97 billion were traded in 3,079 deals.

    UNIVINSURE led the traded stock in terms of volume, accounting for 12.72 percent of the total volume of trades, followed by ZENITHBANK (6.87%), UCAP (6.61%), TRANSCORP (6.42%), and ACCESS (6.38%) to complete the top five on the volume chart.

    While, MTNN emerged as the most traded stock in value terms, with 34.01 percent of the total value of trades on the exchange.

    → UPDC led the advancers’ table with price appreciation of 9.64 percent, trailed closely by NNFM (9.59%), HONYFLOUR (3.83%), MTNN (1.45%), FBNH (1.33%), GTCO (0.74%), UCAP (0.61%) and 7 others.

    On the other hand, TRANSCOHOT topped the decliners’ chart as its share price declined by 10.00 percent to close at ₦4.5, as SEPLAT(-6.54%), STERLNBANK (-1.99%), FIDELITYBK (-1.23%), GLAXOSMITH (-0.82%) and ZENITHBANK (-0.63%) amongst others also decline in price.

    However, the market breadth closed negatively, recording 14 gainers and 19 losers.

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