NGX stocks up by N33 billion amid interests in MTN
On Wednesday, the equities market rallied back to a positive note after two consecutive days of losses.
The gain was prompted by renewed interests in telecoms giant MTN Nigeria.
Precisely, the All-Share Index increased by 0.1 per cent to close at 46,904.48 points as against 46.843.09 points at the previous tradings.
Accordingly, the Month-to-Date dropped 1.0 per cent, while the Year-to-Date increased by 9.8 per cent.
Specifically, the market capitalisation gained ₦33.08 billion to close at ₦25.279 trillion from N25.246 trillion recorded on Tuesday.
Performance across sectors was mixed, as the Insurance went up by 0.6 per cent and Oil and Gas inched up by 0.3 per cent indices, while the Banking declined by 0.6 per cent and Consumer Goods dropped by 0.2 per cent indices.
The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative as 16 stocks gained relative to 17 losers.
Cornerstone Insurance and Ikeja Hotels led the gainers’ table in percentage terms increasing by 10 per cent to close at 66k and N1.32 per share.
Eterna Oil followed with 9.82 per cent to close at N5.48, while Meyer Pharmaceutical added 9.09 per cent to close at 60k per share.
Chams gained five per cent each to close at 21k per share
Conversely, Cadbury shed 6.67 per cent to close at N8.40 while Japaul Gold trailed with 5.88 per cent to close at 32k per share.
PZ dipped 5.36 per cent to close at N10.60, while Royal Exchange dropped 5.22 per cent to N1.09.
Multiverse was down by 4.17 per cent to close at 23k per share.
The total volume traded stood 201.28 million units, valued N2.62 billion, and exchanged in 4,017 deals.
This is a 6.1 per cent decrease from 214.328 million units, valued N1.759 billion in 4,125 deals achieved on Tuesday.
EcoBank Transnational Incorporated (ETI) shares had the highest, in terms of volume during the day, exchanging 61.89 million shares valued N742.03 million.
Access Corporation traded 29.47 million shares worth N294.92 million, while Zenith Bank with 15.84 million shares valued N361.8 million.
Fidelity Bank traded 11.372 million shares worth N9.81 million, while Transcorp sold 9.4 million shares valued N102.92million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
UN advocates stronger cooperation framework with Nigeria to drive growth
Mr Fall stressed the need to strengthen the UN-Nigeria cooperation framework to bolster national growth.
Agriculture
Nigeria, Brazil deepen partnership on agriculture, livestock development
Mr Shettima said both countries will roll out bilateral partnerships in agriculture and livestock under the initiative.
Heading 1
Troops detain terrorists’ logistics suppliers, recover weapons in southern Kaduna
Mr Oteh disclosed that the suspects were intercepted and subsequently arrested by troops while travelling from Plateau to Niger State.
Heading 2
Primaries Fallout: APC chairman advises aggrieved aspirants to accept defeat
Mr Bello urged those who couldn’t make it in the just-concluded APC primaries to emulate the speaker by accepting the outcome.
NationWide
NTAC deploys 28 TAC volunteers to Uganda to bridge educational gaps
Mr Yakub expressed satisfaction with the quality of Nigerian professionals selected for deployment to Uganda.
World
South African police arrest four over attempted murder
The suspects are expected to appear before the Virginia Magistrate’s Court soon, the police said.
