Home Front Page MTN Nigeria continues its bull run on the NSE

MTN Nigeria continues its bull run on the NSE

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The Nigerian Stock Exchange ended Tuesday’s trading session in positive territory, continuing its bull sentiment from Monday. The All Share Index closed at 30,218.14 basis points, up 2.88%. Year to date, the index is down 3.86%.

Top Gainers and Losers: MTN Nigeria Plc was the best performing stock today. The stock gained 9.98% to close at N131.70. Africa Prudential Plc gained 9.44% to close at N3.94. Thomas Wyatt Plc rounds up the top three gainers for today. The stock gained 8.82% to close at N0.37.

On the flip side, Livestock Feeds Plc was the worst performing stock, declining by 10% to close at N0.63. Juli Plc fell by 9.58% to close at N1.51. Afromedia Plc rounds up the top three losers for the day with a 8.89% loss to close at N0.41.

Top Trades by Volume: MTN Nigeria Plc was the most actively traded stock today. 110.71 million shares valued at N14.58 billion were traded in 292 deals. FBN Holdings Plc was next with 31.43 million shares valued at N218 million traded in 239 deals. Sterling Bank Plc rounds up the top three most actively traded stocks today with 26.13 million shares valued at N60.16 million traded in 143 deals.

Corporate Actions

Omoluabi Mortgage Bank Plc released its financial statement for the year ended 31 December 2018. Here are the highlights of the result:

Gross earnings declined by 11% from N518.37 million in 2017 to N460.93 million in 2018. Profit before tax also fell from N187.53 million in 2017 to N95.93 million in 2018. Declining by 48.84%. Similarly, profit after tax dropped to N79.53 million in 2018 from N173.46 million in 2017. Decreasing by 54.15%. Earnings per share reduced from 3.50 kobo in 2017 to 1.56 kobo in 2018.

MTN Nigeria: MTN Nigeria has denied any wrongdoings regarding the sales of its shares which the telecommunications company listed on Thursday, May 16, 2019. The shares of MTN Nigeria are currently scarce in the stock market. This has led to claims that investors are being shutout from taking up shares in the company.

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