MTN, OANDO Drive N343bn Gain in Nigerian Stock Market
Equities investors gained N343 billion in the stock market due to fresh demand for MTN Nigeria shares, and seemingly unending buying interest in Oando Energy PLC.
Due to buying interest in the telecom and oil stocks, the key performance indicators climbed by 0.62%. The market index, or All-Share Index, climbed by 596.34 basis points today, reflecting a 0.62% increase to close at 96,802.80.
The market rebound from loss sustained yesterday was driven by investor buying interest in some medium and large Cap stocks. The market movers include OANDO, MTNN, UCAP and others.
Despite closing positive, market activities inched lower. Total volume and total value traded for the day decreased by 47.55% and 9.11%, respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 406.19 million units valued at ₦13,312.70 million were transacted across 12,241 deals. OANDO was the most traded stock in terms of volume, accounting for 14.71% of the total volume of traded in the market.
Other volume drivers include ACCESSCORP (7.64%), JAPAULGOLD (7.25%), FBNH (5.25%), and UBA (5.03%) to complete the top 5 on the volume chart.
OANDO also emerged as the most traded stock in value terms, with 48.48% of the total value of trades on the exchange. RTBRISCOE topped the advancers’ chart with a price appreciation of 10.00 percent.
Other gainers include CAVERTON with (+9.77%) growth, MCNICHOLS (+8.89%), CUSTODIAN (+8.87%), OMATEK (+8.82%), GUINEAINS (+8%) and twenty-three others. Nineteen stocks depreciated, according to data from the Nigerian bourse. LEARNAFRCA was the top loser, with a price depreciation of -9.69%.
Other decliners include JAPAULGOLD (-6.67%), NEIMETH (-4.29%), DANGSUGAR (-3.39%), ACCESSCORP (-2.96%), and AFRIPRUD (-1.64%), which also dipped in price. Based on the trading direction, the market breadth closed positive, recording 29 gainers and 19 losers.
But the market sector performance was negative, as three of the five major market sectors went downward. The banking sector declined by -0.51%, followed by the insurance sector, which lost 0.42%, while the consumer goods sector dipped by -0.18%.
The industrial and oil and gas sectors grew marginally by 0.01%. Overall, the equities market capitalisation of the Nigerian Exchange rose by₦343.03 billion, representing a growth of 0.62%, to close at₦55.63 trillion. #MTN, OANDO Drive N343bn Gain in Nigerian Stock Market Blue Economy: Nigeria set to Host Deep Seabed Workshop
