NGX Gains N42bn As MTNN, Unity, UBA Rally

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NGXEquities segment of the Nigerian Exchange (NGX) opens the week on a bullish note as banking shares, MTN Nigeria stock rally.  The upbeat was driven majorly by the 1.2% gain recorded by MTN Nigeria, a telecom company that is second most capitalized in the local bourse.

Consequently, the NGX All-Share Index (ASI) grew by 76.36 points or 0.14 percent to 55,605.57 compared with 55,529.21 achieved on Friday. Similarly, market capitalization inched by N42 billion to close at N30.291 trillion from N30.249 trillion posted on Friday.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which were MTN Nigeria, WAPCO, UBA, Unity Bank, Julius Berger and International Energy Insurance.

Market breadth closed negative as 16 stocks posted gains, while 20 stocks posted declines. Julius Berger recorded the highest price gain of 10 percent to close at N26.95 per share.

Unity Bank followed with a gain of 9.26 percent to close at 59k per share, while International Energy Insurance appreciated by 8.33 percent to close at N1.30 per share.

Livestock garnered 4.67 percent to close at N1.12 per share, while Chams appreciated by 4 percent to close at 26k per share. Conversely, Computer Warehouse Group led the losers’ chart with a loss of 7.14k, percent to close at 91k per share.

FTN Cocoa Processors followed with a decline of 6.67 per cent to close at 28k per share, while OandO dropped by 4.39 per cent to close at N4.36 per share. Courteville Business Solutions lost 4.17 percent to close at 46k per share while Japaul Gold & Ventures shed 3.45 percent to close at 28k per share.

Total volume traded declined by 33 percent to 125.55 million shares, worth N2.48 billion traded in 4,076 deals. This was in contrast to a turnover of 184.24 million shares valued at N2.54 billion traded in 3,962 deals on Friday.

Transactions in the shares of Transcorps topped the activity chart with a total of 11.8 million shares valued at N15.36 million. Guaranty Trust Holding Company (GTCo) came second with 9.4 million shares worth N248.3 million, while UBA traded 9.19 million shares valued at N79.04 million.

OandO sold 8.35 million shares worth N36.78 million, while Fidelity Bank transacted 6.45 million shares valued at N33.19 million.

Today, sectoral performance was mixed, as the Banking (-0.3%) and Consumer Goods (-0.1%) indices printed losses, while the Insurance (+0.1%) index advanced. On the other hand, the Industrial Goods and Oil & Gas indices closed flat. NGX Gains N42bn as MTNN, Unity, UBA Rally



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