MTNN, 17 others sustain Nigerian equity market uptrend

Gains by MTNN, Presco and 16 other stocks supported the uptrend in the Nigerian equity market as it appreciated 0.10 per cent on Wednesday.

  The All-Share Index (ASI) was up by 24.53 absolute points, representing a 0.10 per cent uptick to close at 25,407.96 points, while Market Capitalization gained N12.80 million, representing an 0.10 per cent increase to close at N13.25 trillion.

Investors traded 353.3 million units of equities, which was 8.5 per cent lower than the quantity exchanged on Tuesday and the stocks traded were worth ₦7.0 billion, which was 16.1 per cent higher than the value traded the previous day.

NNEIMETH added 9.7 per cent to emerge as the top gainers, while PZ emerged as the top loser after shedding 9.43 per cent.

FBNH (50.3m units), Nigerian Breweries (45.9m units), and GTBank (42.4m units) led the activity chart,  while Dangote (₦2.1bn), Nigerian Breweries (₦2.0bn) and GTBank (₦1.1bn) were the most active in value terms.

The AFR-ICT (0.7%) and Insurance (0.1%) indices were the lone gainers following bargain hunting in MTNN (+1.3%) and LASACO (+8.0%) respectively. Conversely, sell pressures in GTBank (-0.4%), Guinness (-5.0%) and Dangote Cement (-0.4%) dragged the Banking (-0.6%), Consumer (-0.4%) and Industrial Goods (-0.2%) indices lower.