NSE opens week with N145bn growth on MTNN gain

The nation’s bourse resumed a new trading week on Monday with a growth of N145 billion due to buying interest in MTN Nigeria (MTNN) and 27 other stocks.
Specifically, the market capitalisation which opened the week at N20.518 trillion inched higher by N145 billion or 0.71 per cent to close at N20.663 trillion.
Also, the All-Share rose by 277.17 points or 0.71 per cent to close at 39,493.37 from 39,216.20 achieved on Friday.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTNN, Guaranty Trust Bank, Guinness Nigeria, Custodian Investment and Ecobank Transnational Incorporated.
Consequently, the market breadth closed positive with 28 stocks, relative to 12 losers.
Courteville Business Solutions and Custodian Investment dominated the gainers’ chart in percentage terms with 10 per cent each to close at 22k and N6.60 per share.
Linkage Assurance followed with 9.80 per cent to close at 56k per share.
Caverton Offshore Support Group appreciated by 9.52 per cent to close at N2.07, while Jaiz Bank grew by 8.47 per cent to close at 64k per share.
Conversely, Cornerstone Insurance led the losers’ chart in percentage terms dropping by 9.84 per cent to close at 55k per share.
Oando trailed with a loss of 6.06 per cent to close at N3.10, while Honeywell Flour Mill declined by 4.84 per cent to close at N1.18 per share.
PZ Cussons declined by three per cent to close at N4.85, while FCMB Group shed 2.68 per cent to close at N2.90 per share.
Also, the total volume of shares transacted rose by 108.10 per cent with an exchange of 522.18 million shares valued at N10.65 billion exchanged in 4,566 deals.
This was in contrast with 250.92 million shares valued at N2.79 billion traded in 3,746 deals on Friday.
Transactions in the shares of Guaranty Trust Bank topped the activity chart with 230.371 million shares valued at N7.387 billion.
Union Bank of Nigeria followed with 79.22 million shares worth N419.84 million, while Wema Bank traded 51.94 million shares valued at N31.70 million.
Transcorp traded 18.69 million shares worth N14.97 million, while Courteville Business Solutions sold 16.85 million shares worth N3.71 million.