Gains in MTN, Dangote, others boost Market Cap by N402bn

The stock market of the Nigerian Exchange Limited (NGX), Thursday, recorded a positive run, primarily driven by the gains in Dangote Cement Plc and MTN Nigeria Communications stocks.

MTN Nigeria and Dangote Cement with 4.58% and 2.20% gain led the market’s gain as the NGX All-Share Index advanced by 0.99%, closing at 74,502.58 basis points, compared to the previous day’s loss of 0.34%, which closed at 73,768.64 basis points.

The NGX Market CAP also recorded a gain of N401.63bn, closing at N40.769 trillion from yesterday’s N40.367 trillion.

The NGX ASI year-to-date return was at 45.37%  while the total volume traded declined by 11.17% to close at N384.58m, valued at N5.67bn and traded in 8,336 deals. JAIZBANK was the most traded stock by volume with N49.40m, while ZENITHBANK was the most traded stock by value with N1.06bn units traded.

Trading was quite positive for stocks worth over N1 trillion, as MTNN (+4.58%), DANGCEM (+2.20%), and ZENITHBANK (+0.53%) recorded price gains, while GTCO (-0.50%) recorded a price decline.

At the close of trading, the market recorded 34 gainers, 27 losers, and 58 unchanged. Top 3 gainers were Ikeja Hotel (10.00%), Multiverse Mining and Exploration (9.96%) and Julius Berger Nigeria (9.94%) while the top 3 losers were UAC of Nigeria (-10.00%), John Holt (-9.73%), and Deep Capital Management & Trust (-9.38%).