Investors Recover With N402 Billion Gain After Yesterday’s Trading Session

The Nigerian Stock Exchange investors returned on a positive trend as the market saw N402 billion in interest as MTN Nigeria Communications (MTNN) Plc and 35 others pushed market capitalization. This covered as NGX Investors Losses N140 Billion in Yesterday's Trading Session.

The All-Share Index rose by 733.94%, representing a gain of 0.99%, to close at 74,502.58 points. Market capitalization value gained N402 billion to close at N40.769 trillion.

Analysis shows that market positive performance was driven by price appreciation in large and medium-capitalized stocks such as MTNN, Dangote Cement, Stanbic IBTC Holdings, Julius Berger, and Multiverse Mining & Exploration.

Analysts at Afrinvest Limited said:  ‘Today, we expect the improved investor sentiment to spur the market to a positive finish to the year.’

As measured by market breadth, investor sentiment closed positive as 36 stocks advanced and 27 declined. 

Top Gainers: Ikeja Hotels recorded the highest price gain of 10% to close at N5.50 per share. Multiverse Mining & Exploration followed with an increase of 9.96% to close at N16.89, while Julius Berger rose by 9.94% to close at N39.80 per share. Industrial and Medical Gas Nigeria (IMG) appreciated by 9.87% to close at N12.25, while McNichols rose by 9.86% to close at 78 kobo per share.

Top Losers: UAC of Nigeria (UACN) led by 10% to close at N12.15 per share. John Holt followed with a decline of 9.73% to close at N2.32, while DEAP Capital Management & Trust declined by 9.38% to close at 58 kobo per share. R.T. Briscoe Nigeria dropped by 8.96% to close at 61 kobo, while United Capital lost 7.53% to close at N22.10 per share.

However, total trade volume decreased by 11.17% to 384.576 million units, valued at N5.667 billion, and exchanged in 8,336 deals. Transactions in the shares of Jaiz Bank topped the activity chart with 49.401 million shares valued at N83.190 million.

Zenith Bank followed with 27.936 million shares worth N1.055 billion, while Access Holdings traded 23.423 million shares valued at N539.242 million.

Veritas Kapital Assurance traded 21.688 million shares valued at N7.836 million, while Transnational Corporation (Transcorp) transacted 19.395 million shares worth N165.426 million.