Gains in MTNN, 12 others stock lifts capitalisation to N35bn
By Philemon Adedeji
Following consistent bargain for the opening of the week in telecommunication company, MTNN and 17 other stocks, bullished sentiments occurred on the Nigerian Exchange Limited (NGX) as market Capitalization furtherly increased by N35 billion to close at N28.681 trillion from N28.646 trillion it closed trade on Friday.
Consequently, the year-to-date (YTD) return rose to 2.74 per cent.
Similarly, the All-Share Index (ASI) grew by 63.01 basis points representing a gain of 0.12 per cent to close at 52,657.69 absolute points from 52,594.68 absolute points it closed on Friday.
The upturn performance was impacted by price appreciation in large and small capitalized stocks such as MTNN, Zenith Bank, Guaranty Trust Holding Company and 15 others.
The breakdown of yesterday’s market performance revealed that trade turnover close higher relative to the previous session, with the value of transactions up by 5.44 per cent.
The trade volume increased to 143,736,077 million shares valued at N1.775 billion were exchanged in 4,078 deals.
First Bank Holding of Nigeria topped the volume chart with 19.66 million units traded while MTNN topped the value chart in deals worth N326.85 million.
The Market sentiments as measured by market breadth closed positive as Johnholts led 18 gaines on the leaders table, While Cornerstone Insurance led 13 losers on the laggards table.
On the advancers table, Johnholts led as the highest price gainer with 9.38 per cent to close at N1.05 per share, NSLtech which followed rose significantly by 9.09 per cent to close at N0.24 per share, While Chams Plc went up by 7.69 per cent to close at N0.28 per share.
Geregu Power which recorded as the last fourth gainer appreciated by 6.92 per cent to close at N148.40 per share and Abctrans which recorded as the last fifth gainer grew by 6.90 per share increased to close at N0.31 per share.
However, On the decliners log, Cornerstone Insurance emerged as the most loser with a decline of 10.00 per cent to close at N0.54 per share, Computer Warehouse Group which followed lost 9.62 per cent to close at N0.94 per share, while Japaulgold which recorded as the last third loser shed 6.67 per cent to close at N0.28 per share.
Unity Bank dropped by 5.17 per cent to close at N0.55 per share and Courtville Business Solution which recorded as the last fifth loser depreciated by 4.00 per cent to close at N0.48 per share.
Transaction in the shares of First Bank Holdings of Nigeria topped the activities chart with 19.656 million shares worth N229.717 million, Chams Plc which followed transacted 11.218 million shares valued at N3.109 million, while Guaranty Trust Holding Company traded 10.990 million shares value at N264.992 million.
Transcorp Plc accounted 10.573 million shares value at N12.814 million, while Sterling Bank accounted 10.205 million shares worth N15.933 million.
