NGX equities market value rises N98bn on MTN shares


By Philemon Adedeji

Equities market on the Nigerian Exchange Limited (NGX) opened the week on a positive note, amid gains recorded in telco heavyweight MTNN (0.87 per cent), alongside Zenith Bank (1.73 per cent) and Guaranty Trust Holding Company (GTCO)(2.07 per cent) buoyed the markets performance.

Respectively, the All-Share Index (ASI) closed by 181.2 basis points representing 0.35 per cent stronger to close at 52,369.13 index points from 52,187.93 index points it closed trade on Friday.

The market performance was driven by price appreciation in medium and large capitalised stocks which are: MTNN, Zenith Bank, Ikeja Hotel, Academy Press and others.

Consequently, the year-to-date (YTD) return rose to 2.18 per cent, while the market capitalisation value gained N98.66 billion to close at N28.52 trillion.

The breakdown of the yesterday’s market performance showed trade turnover settled lower relative to the previous session, with the value of transactions down by 50.79 per cent.

A total of 315.70 million shares valued at N4.03billion were exchanged in 5,847 deals.

Zenith Bank (+1.73 per cent) led the volume and value charts with 53.43 million units traded in deals worth N1.38 billion.

As measured by market breadth market sentiments closed positive as 15 tickers lost relative to 31 gainers.

On the price movement table, Ikeja Hotel led as the highest price gainer with 9.85 per cent to close at N2.23 per share, Academy which followed appreciated by 9.80 per cent to close at N1.68 per share, while Prestige Assurance rose by 9.76 per cent to close at N0.45 per share.

NPF Microfinance Bank which recorded as the last fourth gainer grew by 8.71 per cent to close at N1.92 per share, while Cileansing which recorded as the last fifth gainer went up by 9.69 per cent to close at N3.51 per share.

On the price losers table, NCR led as the highest price loser which shed 9.71 per cent to close at N2.79 per share, Closely followed by Sovereign Insurance which suffered 8.89 per cent loss to close at N0.41 per share, while Neimeth Pharmaceutical Industry dipped by 7.33 per cent to close at N1.39 per share.

Ardova Oil which recorded as the last fifth loser went down by 5.77 per cent to close at N0.49 per share.

Transaction in the shares of Zenith Bank topped the activities chart with 53.434 million shares worth N1.381 billion, Access Corporation which followed transacted 48.034 million shares valued at 486.299 million, while United Bank for Africa (UBA) traded 31.111 million shares worth N261.961 million.

AXA Mansard Insurance transacted 23.555 million shares valued at 74.367 million.

Guaranty Trust Holding company exchanged 20.119 million shares worth N541.037 million.