MTN, Nigeria – The Nigerian stock market recorded a robust performance in yesterday’s session, driven by a sustained surge in MTNN (+10.0%), which propelled the benchmark All Share Index (ASI) to climb 1.3 per cent, closing at 105,530.74 points.
This bullish sentiment pushed year-to-date (YTD) returns to +2.5 per cent, as market capitalisation soared by N792.73 billion to end at N64.35 trillion. The market rally was bolstered by notable gains in Zenith Bank (+4.49%) and Oando (+0.40%), which countered declines in FBNH (-1.27%) and WAPCO (-1.41%).
Positive sentiment, measured by market breadth, showed 34 gainers versus 24 laggards, with MTNN and HONYFLOUR (+9.9%) topping the gainers’ chart, while RTBRISCOE and SUNUASSUR (-10.0% each) led the decliners.
Daily trading volume fell by -36.3 per cenr to 481.69 million shares, valued at N12.82 billion across 12,824 transactions. Universal Insurance emerged as the most traded stock by volume with 97.24 million shares, while SEPLAT led in value, accounting for N4.56 billion.
The Nigerian stock market recorded a robust performance in yesterday’s session, driven by a sustained surge in MTNN (+10.0%), which propelled the benchmark All Share Index (ASI) to climb 1.3 per cent, closing at 105,530.74 points.
https://youtu.be/HX3QVnUFpm0?si=vlrwqk4L1TtH2DAw
This bullish sentiment pushed year-to-date (YTD) returns to +2.5 per cent, as market capitalisation soared by N792.73 billion to end at N64.35 trillion. The market rally was bolstered by notable gains in Zenith Bank (+4.49%) and Oando (+0.40%), which countered declines in FBNH (-1.27%) and WAPCO (-1.41%).
Positive sentiment, measured by market breadth, showed 34 gainers versus 24 laggards, with MTNN and HONYFLOUR (+9.9%) topping the gainers’ chart, while RTBRISCOE and SUNUASSUR (-10.0% each) led the decliners.
Daily trading volume fell by -36.3 per cenr to 481.69 million shares, valued at N12.82 billion across 12,824 transactions. Universal Insurance emerged as the most traded stock by volume with 97.24 million shares, while SEPLAT led in value, accounting for N4.56 billion.
recorded a robust performance in yesterday’s session, driven by a sustained surge in MTNN (+10.0%), which propelled the benchmark All Share Index (ASI) to climb 1.3 per cent, closing at 105,530.74 points.
This bullish sentiment pushed year-to-date (YTD) returns to +2.5 per cent, as market capitalisation soared by N792.73 billion to end at N64.35 trillion. The market rally was bolstered by notable gains in Zenith Bank (+4.49%) and Oando (+0.40%), which countered declines in FBNH (-1.27%) and WAPCO (-1.41%).
Positive sentiment, measured by market breadth, showed 34 gainers versus 24 laggards, with MTNN and HONYFLOUR (+9.9%) topping the gainers’ chart, while RTBRISCOE and SUNUASSUR (-10.0% each) led the decliners.
The performance across sectors was mixed. The Banking (+1.7%) and Consumer Goods (+0.5%) indices posted gains, while the Insurance (-1.4%) and Industrial Goods (-0.2%) indices saw declines.
The Oil & Gas index closed flat. MTNN remained the standout performer, with its share price surging to N242 from N220, marking a maximum daily gain of +10 per cent.
Honeywell Flour and Universal Insurance also posted significant gains, advancing +9.9 per cent and +9.86 per cent, respectively. On the flip side, RT Briscoe and SUNNU Assurance recorded steep losses, dropping -10.0 per cent each.
Daily trading volume fell by -36.3 per cenr to 481.69 million shares, valued at N12.82 billion across 12,824 transactions. Universal Insurance emerged as the most traded stock by volume with 97.24 million shares, while SEPLAT led in value, accounting for N4.56 billion.
By Damilola Adeleke| January 10, 2025
Adeleke Damilola (ACTION) is a versatile content writer with expertise in news writing and a seasoned media professional and broadcast specialist. Currently serving as News Editor for DNews Info, Damilola is also the CEO of the ACTION brand, committed to shaping lives and establishing a legacy of excellence for present and future generations.
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