NGX index up, 1.55%, amid rebounds in MTNN, Zenith Bank, others
Yesterday, the Nigerian stock market extended gains for the second consecutive session driven by rebounds in index heavyweight, MTNN (+6.46 per cent) alongside Tier-1 banking names ZENITH BANK (+0.30 per cent) and GTCO (+2.25 per cent).
The NGX All Share Index ( ASI) appreciated by 995.7 basis points representing 1.55 per cent higher to close at 65,263.06 Index points from 64,267.36 Index points.
Consequently, the ASI year-to-date (YTD) increased to 27.34 per cent, while market capitalisation increased by N541.84 billion to close at N35.52 trillion.
The market upturn performance was impacted by price appreciation in medium and large capitalised stocks which includes, MTNN, Nigerian Breweries, PZ Cussion, Zenith Bank among others.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 19.14 per cent.
The trade volume increased by 34.6 per cent to 445,275,086 million shares worth N5.09 billion were exchanged in 7,095 deals.
STERLING Bank (+10.00 per cent) led the volume chart with 69.45 million units traded while ACCESS CORPORATION (+5.44 per cent) led the value chart in deals worth N568.98 million
As measured by market breadth market sentiment was positive as 51 stocks gained relative to 10 losers.
On the price gainer table, Nigerian Breweries, PZ Cussion, Sterling Bank emerged as the highest price gainer with 10.00 per cent each increased to close at N41.80, N18.15, N3.63 per share respectively.
Chellaram which recorded as the last fourth gainer advanced by 9.96 per cent to close at N3.09 per share, while Dangote Sugar which recorded as the last fifth loser rose by 9.95 per cent to close at N35.90 per share.
On the other side, Eterna Oil led the losers with 9.83 per cent to close at N23.40 per share, Johnholt which followed went down by 9.82 per cent to close at N1.47 per share, while Thomasway suffered 9.40 per cent to close at N1.06 per share.
Mcnichols which recorded as the last fourth loser dipped by 9.33 per cent to close at N0.68 per share.
Courtville Business Solution lost 9.09 per cent to close at N0.60 per share.
