Airtel Africa lifts NSE by 0.45% on November’s last day trading

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By Kayode Tokede

The nation’s bourse closed for the last trading day in November with a growth of 0.45 per cent following price appreciation posted by Airtel Africa and 16 other stocks.

Specifically, the All-Share Index on Monday rose by 156.63 basis points or 0.45 per cent to close at 35,042.14 basis points compared with 34,885.51 basis points achieved on Friday.

Also, the market capitalisation which opened at N18.227 trillion inched higher by N82 billion or 0.45 per cent to close at N18.309 trillion.

Sector performances were negative today as the Banking (-2.49 per cent), Industrial (-0.68 per cent) and Consumer Goods (-0.44 per cent) sectors all closed negatively while Oil & Gas (+0.01 per cent) was the lone gainer.

The uptrend was driven by price appreciation in medium and large capitalised stocks, among which are; Airtel Africa, MTN Nigeria Communications (MTNN), AIICO Insurance and FCMB Group.

AIICO Insurance and Airtel Africa led the gainers’ chart in percentage terms with 10 per cent each to close at N1.10 and N588.50 per share, respectively.

Tripple Gee & Company followed with 9.09 per cent to close at 60k per share.

Japaul Oil & Maritime Services improved by 8.33 per cent to close at 26k, while Union Diagnostic & Clinical Services and Unity Bank appreciated by eight per cent each to close at 27k and 81k per share, respectively.

Conversely, Cutix and Northern Nigeria Flour Mills led the losers’ chart in percentage terms, losing 10 per cent each to close at N1.53 and N6.93, per share respectively.

Fidson trailed with 9.87 per cent to close at N4.93 per share.

Neimeth lost 9.63 per cent to close at N2.44, while Learn Africa shed 9.57 per cent to close at N1.04 per share.

Also, the total volume of shares traded improved by 118.38 per cent with an exchange of 415.53 million shares worth N4.89 billion traded in 5,267 deals.

This was in contrast with 190.28 million shares valued at N4.89 billion achieved in 5,267 deals on Friday. Transactions in the shares of Multiverse Mining and Exploration topped the activity chart with 84.01 million shares valued at N16.80 million.

Zenith Bank came second with 47.02 million shares worth N1.13 billion, while Transcorp sold 34.07 million shares valued at N34.29 million.

Access Bank accounted for 29.90 million shares worth N256.05 million, while Mutual Benefits Assurance transacted 21.57 million shares valued at N4.66 million.

“The equities market closed up today due to the gain recorded in AIRTELAFRI (+10.00 per cent).

“Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns amidst a low interest-rate environment.

“Nonetheless, we reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon,” InvestmentOne Research explained on Monday.