Gains in MTNN, Zenith Bank, others drive capitalisation to N393bn
By Philemon Adedeji
The Nigerian Equities market Extend its winning streak for the fourth consecutive session, the Lagos bourse maintained the positive momentum driven by gains recorded in MTNN (+5.52 per cent), ZENITH BANK (+0.86 per cent), and GEREGU (+3.60 per cent) kept the market in the green offsetting losses in STANBIC (-2.10 per cent), WAPCO Insurance (-2.61 per cent), and NB (-3.78 per cent).
The NGX All Share Index (ASI) appreciated by 723.74 basis points to represent 1.11 per cent stronger to close at 65,991.02 index points compare to 65,268.28 index points it closed for previous trading day.
Consequently, as a result, the ASI’s year-to-date (YTD) return increased to 28.76 per cent, while the market capitalisation gained N393.54 billion to close at N35.93 trillion.
The market upturn performance was impacted by price appreciation in medium and large capitalised stocks which are, MTNN, FTNCocoa Processor, Ikeja Hotel, Zenith Bank, Geregu Power and others
The market sentiment as measure by market breadth close positive as FTNCocoa Processor led 32 stocks on the gainers, while Conoil led 30 stocks on the losers chart
The breakdown of yesterday’s market performance showed trade turnover settled lower relative to the previous session, with the value of transactions down by 42.62 per cent.
The trade volume increased to 553.52 million shares valued at N7.42 billion were exchanged in 8,313 deals.
JAPAULGOLD (+9.78 per cent) led the volume chart with 72.49 million units traded while Guaranty Trust Holding Company (GTCO) (+0.52 per cent) led the value chart in deals worth N1.70 billion.
On the gainers table, FTNCocoa Processor and Ikeja Hotel emerged as the highest price gainer which appreciated by 10.00 per cent each increased to close at N2.42 and N2.97 per share respectively, while Seplat Energy grew by 9.99 per cent to close at N1,539.70 per share.
Skyway Aviation which recorded as the last fourth gainer rose by 9.83 per cent to close at N19.55 per share, while Japaulgold which recorded as the last fifth gainer went up by 9.78 per cent to close at N1.05 per share.
On the price losers chart, Conoil plc led with 9.96 per cent to close at N2.44 per share, followed Learnafrica which lost 9.88 per cent to close at N3.01 per share, while Johnholt dipped by 8.45 per cent to close at N1.30 per share
Multiverse and Mining Evaporation shed 8.33 per cent to close at N0.88 per share, while Thomaswy which recorded as the last fifth loser dropped by 7.89 per cent to close at N1.05 per share.
