Gains in MTN, NESTLE lifts market to 1.35% higher close

Gains in the prices of MTN Nigeria, NESTLE and other 17 stocks lifted the activities on the floor the Nigerian equity market on Tuesday to a higher close as the All Share Index appreciated by 1.35% from a decline of 0.83% in the last session to settle at 50,626.04 points from the previous close of 49,950.32 points.

The Market Capitalisation grew by 1.36% to close at N27.301 trillion from the previous close of N26.936 trillion, thereby gaining N365 billion.

An aggregate of 129 million units of shares were traded in 4,706 deals, valued at N2.68 billion.

The Market Breadth closed positive as 19 equities appreciated in their share prices against 9 that declined in their share prices.

Percentage Gainers

Honeywell Flour led other gainers with 9.66% growth to close at N2.27 from the previous close of N2.07.

Jaiz Bank, CAVERTON, JAPAULGOLD, MANSARD and MTN Nigeria among other gainers also grew their share prices above 7.00%.

Percentage Losers

MCNICHOLS led other price decliners as it shed 9.76% of its share price to close at N0.74 from the previous close of N0.82.

WAPIC, CHAMS and NGXGROUP among other price decliners also shed their share prices by 9.76%, 8.00% and 2.73% respectively.

Volume Drivers

FBNH traded about 14.6 million units of its shares in 145 deals, valued at about N156 million.

Zenith Bank traded about 9 million units of its shares in just 350 deal, valued at N196 million.

GTCO traded about 9 million units of its shares in 350 deals, valued at N191 million.

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