Investors gain N582bn amid sustained buy interest

The upturn was impacted by gains recorded in MTN, Guaranty Trust Holding Company (GTCO), Zenith Bank, United Capital, Transnational Corporation (Transcorp)and other stocks.

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Investors gain N582bn amid sustained buy interestThe Nigerian Exchange Ltd.(NGX) extended gains on Friday, causing investors’ wealth to grow further by N582 billion due to buy interest on the nation’s bourse.

Specifically, investors gained N582 billion in value as market capitalisation grew to N59.416 trillion from N58.834 trillion recorded on Thursday.

Consequently, the All-Share index rose by 0.99 per cent or 1,029.04 points to close at 105,085.25, as against 104,056.21 recorded on Thursday.

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As a result, the Year-To-Date (YTD) return rose to 40.54 per cent.

The upturn was impacted by gains recorded in MTN, Guaranty Trust Holding Company (GTCO), Zenith Bank, United Capital, Transnational Corporation (Transcorp)and other stocks.

Market breadth closed positive with 25 equities on the gainer’s table and 20 others on the loser’s log.

On the price movement chart, GTCO led the gainers table by 9.99 per cent to close at N48.45, followed by International Breweries by 9.75 per cent to close at N4.39 per share.

Prestige Assurance added 9.26 per cent to close at 59k, Julius Berger gained 8.20 per cent to close at N72.60, while MTN Nigeria rose by 7.98 per cent to closeN267.80 per share.

On the losers table, International Energy Insurance led by 9.63 per cent to close at N1.22, C&I Leasing followed by 8.11 per cent to close at N3.40 per share.

Vitafoam Nigeria trailed by 5.56 per cent to close at N21.25, Transcorp dropped 5.49 per cent to close at N15.40 and FG162029S1 declined by five per cent to close at N90.25 per share .

However, the total volume traded declined by 32.43 per cent to 217.21 million shares, valued at N5.01 billion and exchanged in 6,457 deals compared to 226.31 million shares worth N7.41 billion in 5,823 deals at the previous session.

Transactions in the shares of FirstBank of Nigeria Holdings (FBNH) topped the activity chart with 29.58 million shares valued at of N1.06 billion.

Transcorp followed with 25.21 million shares worth N392.16 million.

Unity Bank sold 14.13 million shares valued at N25.71 million, while GTCO traded 13.75 million shares worth N645.34 million.

United Capital transacted 12.16 million shares valued at N254.96 million.