The Nigerian stock market rebounded by 0.41 percent on Thursday following investors’ interest in MTN Nigeria Communications (MTNN) and 20 others.
Specifically, the All-Share Index which opened at 41,789.59 rose by 171.55 points or 0.41 percent to close at 41,961.14.
Consequently, month-to-date and year-to-date gains increased to 4.3 percent and 4.2 percent, respectively.
Also, the market capitalization inched higher by N90 billion or 0.41 percent to close at N21.898 trillion from N21.808 trillion on Wednesday.
Analysts attributed the rebound to investors’ reaction to the third-quarter results released some companies at the exchange recently.
The positive performance of the market was driven by price appreciation in large and medium capitalized stocks which are; Nigerian Breweries, Guinness, MTNN, Cadbury, and Lafarge Africa.
Consequently, the market closed positive with 22 gainers as against 13 losers.
Cadbury, Guinness, and University Press drove the gainers’ chart in percentage terms with 10 percent each to close at N8.80, N33, and N1.98 per share, respectively.
AIICO Insurance followed with 9.71 percent to close at N1.18, while Nigerian Breweries went up by 6.37 percent to close at N54.25 per share.
Ecobank Transnational Incorporated rose by 6.21 percent to close at N8.55, while UPDC Real Estate Investment Trust gained 6.21 percent to close at N8.55, per share.
On the other hand, AXA Mansard Insurance led the laggards’ chart in percentage by 6.02 percent to close at N2.34 per share.
Japaul Gold and Ventures followed with 4.44 percent to close at 43k, while Courteville Business Solutions lost 4.35 percent to close at 44k per share.
Mutual Benefits Assurance lost 3.45 percent to close at 28k, while NEM Insurance and Lasaco Assurance shed 2.50 percent each to close at N1.95 and N1.17 per share, respectively.
Also, the total volume of trades rose by 96.38 percent to 558.889 million shares valued at N4.40 billion in 4,683 deals.
MTNN lifts trading on NGX by 0.15%
This was in contrast with 284.60 million shares worth N3.20 billion transacted in 5,036 deals on Wednesday.
Transactions in the shares of FBN Holdings topped the activity chart with 75.46 million shares valued at N898.01 billion.
AIICO Insurance followed with 18.42 million shares worth N17.81 million, while ETI traded 17.32 million shares valued at N137.32 million.
Transcorp sold 15.21 million shares valued at N15.49 million, while Fidelity Bank transacted 14.03 million shares worth N38.53 million. (NAN)
