MTN, others trigger rally as NSE All Share Index gains

July 10, 2020
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Nigerian bourse finished on a positive note with blue-chip stocks like MTN, triggering a rally and ending the trading week on a positive note leaving the All Share Index (ASI) Stock at 24,306.36 basis points, gaining 0.12%.

Accordingly, Month-to-Date and Year-to-Date losses stand at -0.68 per cent and -9.48% respectively, while market capitalization stood at N12.679 trillion after increasing by N14.76 billion.

Market sentiment, as measured by market breadth, was positive, as 12 stocks gained, relative to 9 decliners. IntBrew, Vitafoam and Glaxosmith led the gainers’ chart, while at the rear of the chart, ABC transport, UBA and GTBank led the chart.

Market upturn was paired with low trading activities compared to the performance recorded yesterday. Total volume and value of stocks traded declined by 29.47 per cent and 62.41 per cent to 131.63 million units and N899.4 million respectively.

STERLNBK was the most traded stock by volume at 17.6million units while ZENITHBANK finished the most traded stock by value at N220.4 million.

Sectoral performance was lukewarm, as one out of the five major sub-indices posted gains, with the Energy and Industrial index closing flat.

The Consumer Goods index (+0.56%) led the gainers, on INTERBREW (+6.94%) and GLAXOSMITH (+4.35%) gains. Losses in UBA (-2.34%), GUARANTY (-1.32%) and ZENITH (-0.30%) impelled losses in the lenders’ Index (-0.68%), followed by the Insurance index (-0.63%), following price decline in REGALINS (-8.33%) and AIICO (-4.26%).

INTBREW up 6.94% to close at N3.85, VITAFOAM up 5.13% to close at N5.33, GLAXOSMITH up 4.35% to close at N4.8,PZ up 3.45% to close at N4.5, MTNN up 0.96% to close at N116.1

ABCTRANS down 8.93% to close at N0.51, UBA down 2.34% to close at N6.25, GUARANTY down 1.32% to close at N22.45, FBNH down 0.95% to close at N5.2, ZENITHBANK down 0.30% to close at N16.7.

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