MTN listing reverses Nigerian equity market upturn, up 0.54%

After 9 consecutive sessions of downtrend, the Nigerian Stock Exchange (NSE) turned the corner on Thursday, following the listing of the shares of MTN Nigeria Communications Plc.

The All Share Index (ASI) gained 152.11 absolute points, representing 0.54 per cent  appreciation to close at 28,438.19 points, while  Similarly, Market Capitalization grew by N1.90 trillion, representing an increased of 17.87 per cent to close at N12.53 trillion due to the addition of N1.83 trillion market capitalization of MTN Nigeria Communications Plc.

In its first trading session, MTN Nigeria appreciated 10 per cent to emerge the highest gainer among 10 other appreciators, while Unity Bank shed -9.72 per cent with a 25 losers emerging on Thursday.
A total of 312.36 million shares worth N2.81 billion exchanged hands in 3,933 transactions, with Transcorp emerging the most active stock, having traded 105.49 million shares valued at N130.09 million.