Interest in MTN Nigeria stocks push market to 0.3 per cent gain

Equities trading to another turn, on Thursday, as the market reverses previous day loss to closes with 0.3 per cent increase in the benchmark index.

At the Nigerian Exchange Limited (NGX) on Thursday, trading was negative for most of the day; however, late demand for MTN Nigeria stocks ensured the market closed higher as MTN Nigeria notched 2.6 per cent.

Consequently, the NGX All Share Index (ASI) edged up by 0.3 per cent to 39,670.29 basis points as against an opening of 39,545.67 basis points.

Accordingly, Month-to-Date gain rose to +2.9 per cent, while Year-to-Date loss moderated to -1.5 per cent.
Equities investors, therefore, earned N65 billion at the end of the day’s trading activities as the market’s worth settled at N20.67 trillion when compared with an opening of N20.60 trillion

As measured by market breadth, market sentiment was positive, as 23 tickers gained, relative to 14 losers.

On the performance chart, Neimeth Pharmaceutical and NACHO topped the gainers’ list having appreciated their respective share values by ten per cent; while Nigerian Breweries and Chi Plc recorded the most significant losses of the day after each share value declined by 8.8 per cent and 6.7 per cent.

Sectoral performance was broadly negative, as the Consumer Goods, Oil and Gas and Banking indices declined by 1.7 per cent, 0.1 per cent and 0.1 per cent respectively. However, the Insurance and Industrial Goods indices were positive by 0.8 per cent and 0.2 per cent respectively.

The total volume of trades increased by 52.8 per cent to 201.84 million units, valued at N1.68 billion, and exchanged in 3,274 deals.

Courtville was the toast of investors as it recorded the most traded stock by volume at 34.83 million units, while MTN Nigeria was the most traded stock by value at N543.79 million.

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FACT CHECK: MTN Nigeria Not Celebrating 20th Anniversary With N20,000 Cash, 5GB Data

CLAIM: A viral Whatsapp message claims that mobile telecommunications company, MTN, is giving out N20,000 cash, 5GB worth of data, and cars to celebrate its 20th anniversary in Nigeria.

VERDICT: FALSE! To mark its 20th anniversary, MTN, instead, gave all its customers free calls of up to 5 minutes, free 200MB data and promised to give 20 Honda HRVs to 20 customers.

FULL STORY: On Sunday, August 8, 2021, a viral WhatsApp message claims that mobile telecommunications giant, MTN, is giving out N20,000 cash, 5GB worth of data and cars to celebrate its 20th anniversary in Nigeria.Interest in MTN Nigeria stocks push market to 0.3 per cent gain

Interest in MTN Nigeria stocks push market to 0.3 per cent gain