MTN Nigeria stocks push market to marginal gain

Trading at the Nigerian Exchange Limited (NGX) on Wednesday, closed in the green as investors’ interest in MTN Nigeria stocks pushes the benchmark index by 0.1 per cent.

Specifically, the All-Share index to 39,968.34 basis points, having moved northward marginal
Accordingly, Month-to-Date and Year-to-Date losses moderated to -0.6 per cent and -3.2 per cent, respectively.

As measured by market breadth, market sentiment was, however, negative, as 17 tickers lost, relative to 13 gainers.

On the performance chart, Transcorp Hotels and CHI Plc topped the losers’ list having declined in share value by respective 10.0 per cent and 9.4 per cent, while NNFM and Oando recorded the most significant gains of the day, after recording 9.6 per cent and 6.2 per cent appreciation in the value of their respective shares.

Sectoral performance was broadly negative as three indices Oil and Gas, Insurance, and Banking indices recorded declines by 2.0 per cent, 1.2 per cent and 0.4 per cent respectively, while Elsewhere, the Consumer Goods and Industrial Goods indices closed flat.

Universal Insurance was the most traded stock by volume at 17.99 million units, while MTN Nigeria was the most traded stock by value at N1.01 billion.

The total volume of trades decreased by 36.8 per cent to 141.41 million units, valued at N2.97 billion, and exchanged in 3,079 deals.

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