NGX: Investors’ interest in MTN boosts market capitalisation by 1.99%

Written by on May 12, 2022

Bullish sentiment returned to the Nigerian stock market on Wednesday, following investors’ interest in MTN Nigeria.

Specifically, the market capitalisation garnered N556.93 billion or 1.99 per cent to close at N28.735 trillion from N27.928 trillion on Tuesday.

Also, the All-Share Index advanced by 1,033.04 points or 1.99  per cent to close at 52,838.45 against 51,805.41 achieved on Tuesday.

Accordingly, the year-to-date returns increased to 23.70 per cent.

The upturn was impacted by gains recorded in the other sectors, including ARDOVA, Dangote, Cement, Cadbury, Guaranty Trust Holding Company (GTCo).

Sectoral performance was positive as most indices gained.

The Consumer Goods rose by 1.5 per cent Industrial Goods 1.4 per cent,  Insurance 0.9 per cent, Oil and Gas 0.1 per cent, while the Banking index closed flat.

Overall, the market was positive with 43 gainers relative to 27 losers.

CWG and Okomu Oil drove the gainers’ chart in percentage terms by 10 per cent each to close at 99k and N205 per share, respectively.

Champion followed with a gain of 9.93 per cent to close at N4.43, while MCNicholas rose by 9.90 per cent to close at N1.11 per share.

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