Stock market gains N1.379tn as Airtel lists on NSE, Tuesday

Airtel Africa Plc on Tuesday was listed on the floor of the Nigerian Stock Exchange. The telco giant becomes the second listed telecommunication company on the Nigerian Bourse, taking a cue from MTN Nigeria.

Airtel opened the trade with the share price of N363 and closed at N399.3 gaining 10% for the day. With market capitalisation of N1.5 trillion Airtel Africa Plc has the Shares Outstanding of 3.758 billion.

The market closed on a positive note as the All Share Index rose by 0.10% to close at 29,318.02 points from the previous close of  29,287.87 points on Monday.

Market capitalisation soared by 10.68%, gaining N1.379 trillion to close at N14.288 trillion from the previous close of N12.909 trillion.

Aggregate volume of traded stocks for the day was 294.62 million units, valued at N3.2 billion in 4,033 deals.

Market Breadth

The market breadth closed negative as 8 stocks gained while 20 stocks declined in their share prices.

Percentage Gainers

 

Cadbury and Japaul Oil, grew their share prices by 4.37% and 4.35% to close at N11.95 and N0.24 respectively.

Airtel opened the trade with the share price of N363 and closed at N399.3 gaining 10% for the day.

Percentage Losers

GSK led the price decliners’ list, shedding 9.78% of its share price to close at N8.30 from the previous close of N9.20.

Courtville, Ecobank Transnational Incorporated and Dangote Sugar among other price decliners also shed 8.70%, 8.65% and 8.26% of theire share prices respectively.

Volume Drivers

Zenith Bank traded about 48.52 million units of its shares in 512 deals, valued at N922.8 million.

 

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