Stock market stays 0.29% afloat, buoyed by gain in MTN Nigeria

The Nigerian Bourse stayed afloat on price appreciation in MTN Nigeria and other 15 stocks on Monday, making it six straight gains in the last six sessions as the All Share Index grew 0.29%, closing at 54,367.74 points from the previous close of 54,213.09 points on Friday.

Market capitalisation closed at N29.612 trillion, up by 0.29% from the previous close of N29.528 trillion, adding N84 billion.

An aggregate of 191.6 million units of shares were traded in 4,359 deals, valued at N4.8 billion.

Market Breadth

The market breadth closed perfectly balanced as 16 stocks gained against 16 stocks that declined in their share prices.

Percentage Gainers

Sovereign Trust Insurance led other gainers, closing at 10.00% above its previous close of N0.30 to settle at N0.33.

Linkage Assurance, International Energy Insurance and IMG also closed the day above other gainers by 8.89%, 8.08% and 4.55% respectively.

Percentage Losers

MCNICHOLS led decliners’ table shedding 8.96% of its share price to close at N 0.61 from the previous close of N0.67.

Prestige Assurance, FTN Cocoa and JAPAULGOLD shed 8.70%, 6.06% and 5.88% respectively

Volume Drivers

GTCO traded about 50.6 million units of its shares in 365 deals, valued at about N1.27 billion.

Zenith Bank traded about 18 million units of its shares in 283 deals, worth about N452 million.

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