NSE Rebounds By N83b On Buying Interests In Dangote Cement, MTN Nigeria

The Nigerian Stock Exchange (NSE) rebounded on Tuesday with N83 billion following buying interest in Dangote Cement and MTN Nigeria Communications (MTNN). 

Specifically, the market capitalisation inched higher by 158.97 points or 0.41 per cent to close at N20.258 trillion from N20.175 trillion achieved on Monday. 

Also, the All-Share Index improved by 158.97 points or 0.41 per cent to 38,720.81 compared with 38,561.84 recorded on Monday. 

Consequently, the month-to-date and year-to-date losses moderated to 2.7 per cent and 3.9 per cent, respectively. 

The gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Guinness Nigeria, MTNN, Vitafoam Nigeria and GlaxoSmithKline Consumer Nigeria. 

In spite of the growth, the stock market recorded 20 losers against 11 gainers. 

Guinness Nigeria and Regency Alliance Insurance dominated the gainers’ chart with 10 per cent each to close at N25.30 and 33k per share, respectively. 

Jaiz Bank followed with 9.68 per cent to close at 68k per share. 

Vitafoam went up by 5.44 per cent to close at N7.75, while Livestock Feeds appreciated by 3.83 per cent to close at N1.90 per share. 

On the other hand, Wapic Insurance led the losers’ chart with 9.09 per cent to close at 50k per share. 

Africa Prudential followed with 8.26 per cent to close at N5, while Fidelity Bank declined by 6.69 per cent to close at N2.23 per share. 

On the other hand, Ecobank Transnational Incorporated lost 5.83 per cent to close at N4.85 per share. 

Guaranty Trust Bank shed 4.84 per cent to close at N28.50 per share. 

Also, the total volume traded rose by 19.7 per cent to 220.857 million shares worth N4.21 billion traded in 4,192 deals. 

This was in contrast with 184.53 million shares valued at N2.52 billion exchanged in 3,527 deals on Monday. 

Transactions in the shares of United Bank for Africa topped the activity chart with 24.41 million shares valued at N171.57 million. 

Access Bank followed with 19.13 million shares worth N148.12 million, while Mutual Benefits Assurance traded 17.88 million shares valued at N6.85 million. 

AXA Mansard Insurance traded 17.45 million shares worth N17.28 million, while Guaranty Trust Bank transacted 16.33 million shares valued at N470.57 million.