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Nigeria’s equity rises 2.9% on MTN Nigeria, Unilever gains

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Nigeria’s equity market rose almost three percent on Monday, driven mainly by gains in the stock of local unit of South Africa’s telecom giant, MTN Nigeria and household product maker Unilever.

The market main indext climbed 2.93 percent at the close of the market  to 43,246.87 points, compared with 42,014.50 points the market close on Friday.

The market cap of equities listed on the NGX increased to N22.569 trillion from N21.926 trillion as on the previous day.

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The total volume traded closed with an exchange of 443.606 million units valued at N5.05 billion traded in 5,233 deals. However, the market breadth was negative with 18 gainers as against 26 losers.

The NGX 30 Index increased by 1.94 percent to close at 1,780.74 points as against 1,746.84 points as on the previous day.

Market turnover closed with traded volume of 242.41 million units. MTNN and Unilever were the key gainers, while Custodian and Sterling were the key losers.

MTN Nigeria rose 9.62 percent to close at N192.50 per share, unilever climbed 9.36 percent to close at N9.55 per share the market at while Ecobank rose 2.96 percent to close at N2.96 and FBN Holdings rose 2.25 percent to close at N11.35 a share.

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