MTN Nigeria, Nigerian Exchange Group, and other gains increased the stock market by N81 billion after the closing of trading on the Nigerian equities market on Monday. This positive trend extended stock investors’ profits from the previous week.
As a consequence, the market capitalization finished higher as purchasing interests increased in MTN Nigeria Communications Plc and Nigerian Exchange Group, Industrial & Medical Gases Nigeria, United Capital, Lafarge Africa, and Oando, among other companies.
The All Share Index climbed by 154.65 absolute points, or 0.29 percent, to close at 53,157.83 points, as expected. As a result, investors earned N81 billion in value as the market capitalisation reached N29.609 trillion. Market mood was mixed, as judged by market breadth, with 16 equities rising and 16 falling.
Sovereign Trust Insurance had the largest price increase of 10%, closing at 33 kobo per share. Linkage Assurance then gained 8.89% to close at 49kobo, while International Energy Insurance gained 8.08% to settle at N1.07 per share.
Industrial & Medical Gases Nigeria increased by 4.55 percent to N8.05, while Courteville Business Solutions increased by 4.08 percent to N0.51 kobo per share.McNichols Plc, on the other hand, lead the losers’ list by 8.96% to settle at N0.61 kobo. FTN Cocoa processors lost 6.06 per cent to close at 31 kobo, while SUNU Assurance and Japaul Gold & Ventures shed 5.88 per cent each to close at N0.32 kobo each respectively, per share.
The total volume traded declined by 28.5 per cent to 191.636 million units, valued at N4.799bn, and exchanged in 4,359 deals. Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 50.585 million shares valued at N1.271bn.
Zenith Bank followed with 18.017 million shares worth N452.440m, while Chams Holding Company traded 16.628 million shares valued at N4.451m. United Bank for Africa traded 14.935 million shares valued at N125.390m, while Transnational Corporation of Nigeria transacted 14.171 million shares worth N18.790m.
