Stock market stays 0.60% afloat, buoyed by gains in MTN, BUA Foods

The Nigerian Bourse stayed afloat on price appreciation in MTN Nigeria, BUA Foods and other 25 stocks in green table on Tuesday, making it three straight gains in the last three sessions as the All Share Index grew 0.60%, closing at 44,929.33 points from the previous close of 44,662.96 points on Monday.

Market capitalisation closed at N24.472 trillion, up by 0.60% from the previous close of N24.327 trillion, adding N145 billion.

An aggregate of 126.6 million units of shares were traded in 3,383 deals, valued at N3.85 billion.

Market Breadth

The market breadth closed positive as 27 stocks gained against 7 stocks that declined in their share prices.

Percentage Gainers

UPDCREIT led other gainers, closing at 10.00% above its previous close of N2.50 to settle at N2.75.

International Breweries, Sovereign Trust Insurance, Fidson and UACN also closed the day above 6.00% of their previous share prices

Percentage Losers

RT BRISCOE led decliners’ table shedding 10.00% of its share price to close at N 0.27 from the previous close of N0.30.

PRESCO, CHAMS and Sunu Assurance shed 7.17%, 4.17% and 3.45% respectively

Volume Drivers

Zenith Bank traded about 13.6 million units of its shares in 304 deals, valued at about N298.6 million.

MTN Nigeria traded about 12 million units of its shares in 219 deals, worth about N2.4 billion.

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