Stock market sustains uptrend by 0.99% as MTN, Seplat rally

Transactions on the floor of the Nigerian Exchange on Wednesday closed on a bullish note, occasioned by 4.49% gain in the share price of MTN.

The All Share Index appreciated by 0.99% to close at 42,435.16 points from the previous close of 42,018.92 points.

Investors gained N218 billion as the Market Capitalisation grew by 0.99% to close at N22.143 trillion from the previous close of N21.925 trillion

At the close of trade on Wednesday, an aggregate of 649.77 million units of shares were traded in 3,757 deals, valued at N7.2 billion.

The Market Breadth closed positive as 20 equities emerged as gainers against 11 equities that declined in their share prices.

Percentage Gainers

Living Trust Mortgage Bank led other gainers with 9.09% growth to close at N0.96 from the previous close of N0.88.

Meyer Plc and AXA Mansard among other gainers also grew their share prices by 7.69% and 7.25% respectively.

Percentage Losers

Cutix Plc led other price decliners as it shed 9.69% of its share price to close at N2.61 from the previous close of N2.89.

Royal Exchange and Mutual Benefit Assurance among other price decliners also shed 8.06% and 7.69% of their share prices respectively.

Volume Drivers

FBNH traded about 441.93 million units of its shares in 224 deals, valued at N5.04 billion.

Sterling Bank traded about 64.43 million units of its shares in 69 deals, valued at N95.94 million.

GTCO traded about 20.67 million units of its shares in 345 deals, valued at N501.36 million.

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