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Wednesday, May 18, 2022


Nigeria’s equity rallies for second consecutive day on MTN, Lafarge gains

Nigeria’s equity market rallied for the second consecutive day on Tuesday as investors increased stake in the stock of MTN Nigeria, Lafarge Cement and Sterling Bank.

The market main index, the All Share Index (ASI) gained 1.12 percent to closed at 43,730.55 points compared with 42,014.50 points the previous day.

The market cap of equities listed on the NGX increased to N22.821 trillion from N22.569 trillion as on the previous day.

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The total volume traded closed with an exchange of 280.714 million units valued at N3.48 billion traded in 4,342 deals. The market breadth was positive with 24 gainers as against 16 losers.

The NGX 30 Index increased by 0.87 percent to close at 1,796.31 points as against 1,780.74 points as on the previous day.

Market turnover closed with traded volume of 178.15 million units. MTNN and Lafarge Africa were the key gainers, while Nascon and Guaranty were the key losers.

Share in local unit of South Africa’s telecom firm, MTN Nigeria gained 3.90 percent, Lafarge Africa rose 3.46 percent while Sterling Bank gained 1.33 percent.

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