Gains from MTN Nigeria, 18 other stocks lift market activities to bullish stance

Gains from MTN Nigeria, 18 other stocks lift market activities to bullish stance

Activities on the Nigerian Exchange Limited (NGX) returned to positive route following gains recorded by blue chip firms.

Checks by Nairametrics showed that the gains recorded in the shares of telecom gaint, MTN Nigeria and other blue chip stocks lifted market capitalisation to gain N364 billion or 1.35%, reversing days of bearish trend.

Consequently, the stock market closed positive amidst buy-interests with bulls dominating proceedings on the trading floor.

The All-share Index (ASI) appreciated by 1.35% to close at 50,626.04 index points as against 49,950.32 index point, the previous day. In the same vein, the overall market capitalization grew by N364 billion or 1.35% to close at N27.300 trillion as against N26.936 trillion the previous day.

Market breadth closed positive with 19 gainers against only nine losers as MC Nichols Plc led the losers with 9.76% while Honeywell Flour Mills Plc led the gainers with 9.66%.

News continues after this ad



Market Indices  

  • NGX ASI: 50,626.04 points
  • Previous ASI: 49,950.32 points
  • % Day Change: 1.35%
  • % Y-t-D: 18.52%
  • Market Cap (N): 27.300 trillion
  • Volume: 129.166
  • Deals: 4,706

NGX Top ASI gainers   

  • Honeywell up 9.66% to close at N2.27
  • Jaiz up 9.46% to close at N0.81
  • Caverton 8.18% to close at N1.19
  • Japual Gold 8.00 to close at N0.27
  • Mansard 7.56 to close at N1.85

NGX Top ASI losers   

  • MC Nicols down – 9.76% to close at N0.74
  • Wapic down – 9.76% to close at N0.37
  • Chams down – 8.00% to close at N0.23
  • NGX down – 2.73% to close at N21.35
  • UBA down – 2.08% to close at N7.05

View Original Article

Free weekly Newsletter

A weekly breakdown of forecasts and trends

Enter your contact info to get The Financial Gambits VIP Newsletter for FREE.

We hate spam as much as you, if you dont like it just unsubscribe and we will never bother you again 

FREE DOWNLOAD

Learn how the spacial web will change the course of our lives and how to identify companies that show the most promise.