Market Rises by 0.10%, Beginning the Year on a Positive Note

Market Rises by 0.10%, Beginning the Year on a Positive Note

The Nigerian Stock Exchange (NSE) resumed trading for 2020 on a positive trend with the benchmark index appreciating by 0.10 per cent following investors’ interest in MTN Nigeria stock.

Specifically, the All-Share Index which opened trading for the year on Thursday at 26,842.07 rose by 25.72 points or 0.10 per cent to close at 26,867.78.

Also, the market capitalization inched N12 billion or 0.10 per cent to close higher at N12.970 trillion against N12.958 trillion on Tuesday.

Market sentiment, as measured by market breadth was positive with 21 gainers compared with 13 losers.

MTN Nigeria Communications led the gainers’ table for the day, appreciating by N4 to close at N109 per share.

Dangote Sugar followed with a gain of 40k to close at N14, while FBN Holdings gained 35k to close at N6.50 per share.

UACN added 30k to close at N8.90, while Vitafoam also increased by 30k to close at N4.70 per share.

Conversely, Seplat recorded the highest loss for the day, shedding N65.70 to close at N592.10k per share.

Lafarge Africa trailed with a loss of N1.60 to close at N13.80, while Unilever was down by N1.30 to close at N20.70 per share.

Stanbic IBTC declined by N1 to close at N40, while Glaxo SmithKline decreased by 60k to close at N5.50 per share.

FBNH was the most traded stock by volume at 60.27 million shares valued at N384 million.

Access Bank followed with an account of 33.54 million shares worth N335.58 million, while Zenith Bank traded 30.91 million shares valued at N578.18 million.

United Bank for Africa exchanged 28.17 million shares worth N202.59 million, while Guaranty Trust Bank sold 18.89 million shares valued at N553.42 million.

In all, investors bought and sold 264.10 million shares worth N5.23 billion in 3,178 deals.

This was in contrast with a turnover of 1.05 billion valued at N5.49 billion achieved in 2,445 deals on Tuesday.


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