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HomeBusinessNigeria's equity market advances 0.62% on investor's interest in MTN Nigeria, other...

Nigeria’s equity market advances 0.62% on investor’s interest in MTN Nigeria, other stocks

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By Ifeyinwa Ezeokoli 

The local bourse moved further into the bull territory as the demand for the top telecommunications player – MTN Nigeria drove the benchmark index higher.

Precisely, the All-Share Index (ASI) rose by 318.98 points, representing an increase of 0.62 percent to close at 52,048.85 points.

Accordingly, the year-to-gate gain stood at 1.6 percent.

Similarly, the market capitalisation gained N174 billion to close at N28.350 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTNN, Dangote Sugar Refinery, Ardova Plc, Lafarge Africa and Zenith Bank.

Market sentiment closed positive with 35 gainers against nine losers.

Ellah Lakes and Lasaco Assurance led the gainers’ chart in percentage terms with 10 percent each to close at N3.96 and N1.10 per share, respectively.

International Breweries followed with 8.60 percent to close at N5.05 per share.

Dangote Sugar Refinery increased by 7.19 percent to close at N17.15, while SUNU Assurance appreciated by 6.90 percent to close at 31k per share.

READ ALSO:  Access Corporation discontinues plan acquisition of Kenyan lender Sidian Bank Ltd

On the other hand, Abbey Mortgage Bank drove the losers’ chart in percentage terms by 10 percent to close at N1.53 per share.

Chellarams trailed with 9.76 percent to close at N1.48, while FTN Cocoa processors declined by 3.57 percent to close at 27k per share.

Nigerian Aviation Handling Company depreciated by 3.55 percent to close at N6.80, while Royal Exchange declined by two percent to close at 98k per share.

However, the total volume of trades decreased by 24.9 percent to 211.74 million units valued at N7.73 billion exchanged in 3,462 deals.

Transactions in the shares of AXA Mansard Insurance topped the activity chart with 26.25 million shares valued at N52.51 million.

Guaranty Trust Holding Company (GTCO) followed with 19.81 million shares worth N476.89 million, while Chams traded 17.906 million shares valued at N4.45 million.

Royal Exchange traded 14.21 million shares valued at N13.379 million, while FBN Holdings (FBNH) transacted 11.824 million shares worth N131.38 million.

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