MTN Boosts Stock Market Despite 50% Tariff Hike.

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

The Nigerian stock market experienced a significant boost yesterday, thanks in part to the performance of MTN Plc’s shares. The market’s major indicator, the NGX All-Share Index (ASI), rose by 0.8% to close at 103,137.99 basis points, up from 102,370.36 points the previous day. This growth pushed the Year-to-Date (YtD) return to 0.2%.

Market capitalization, which represents the total value of listed stocks on the Exchange, also increased by N471 billion to close at N63.332 trillion, up from N62.861 trillion the previous day.

However, the total volume of trades declined by 64.8% to 440.32 million units, valued at N11.97 billion, and exchanged in 13,087 deals. LASACO was the most traded stock by volume, with 108.04 million units, while Seplat was the most traded stock by value, at N3.54 billion.

Sector performance showed gains in the Insurance Index (1.0%) and Banking Index (0.3%), while the Consumer Goods Index and Oil & Gas Index both declined by 0.4%. The Industrial Goods Index remained flat.

Market sentiment was positive, with 29 stocks gaining and 27 losing. MTN led the gainers, rising by 10.0%, followed by SCOA (9.9%). NSL TECH led the losers, declining by 9.9%, while Abbey Mortgage Bank dropped by 9.1%.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.