MTN Nigeria records gain, investors profit up by N42 billion

Nigerian bourse on Tuesday closed its trading session on an impressive note. The All Share Index gained by +0.31% to close at 25,574.35 points as against +0.01% appreciation recorded on Monday.

• Its Year-to-Date (YTD) returns currently stands at -4.42%. Nigerian Stock Exchange capitalization presently stands at N13.408 trillion.
• Investors gained N42.09 Billion.
• Nigerian bourse trading turnover printed positive as Nigerian Stock Market trading moved and gained 33.61% as against +1.36% uptick recorded on Monday.
• ZENITHBANK, FBNH, and TRANSCORP were the most active to boost market turnover.
  Market breadth ended negative as REDSTAREX led 9 Gainers as against 17 Losers topped by UBN at the end of today’s session – an unimproved performance when compared with the previous outlook.

READ: Nigerian banking stocks ignore red flags, boost Nigeria Stock Market

Top gainers

• REDSTAREX up 9.80% to close at N3.25
• TRANSEXPR up 9.33% to close at N0.82
• MTNN up 2.41% to close at N123
• FBNH up 2.04% to close at N5
• DANGSUGAR up 0.83% to close at N12.1

Top losers

• UBN down 6.54% to close at N5
• INTBREW down 2.94% to close at N3.3
• UACN down 1.56% to close at N6.3
• PRESCO down 0.80% to close at N49.5
• DANGCEM down 0.22% to close at N134.7

READ: U.S stock futures trade flat, Apple regains $2 trillion market value

Outlook

Nigerian bourse unsurprisingly ended higher amid rising oil prices and high buying pressures noticed in NSE30 stocks like Dangote Sugar, First Bank, and MTN Nigeria.

• Market liquidity was notably higher as institutional investors increased their stakes on decent stock brands.
• In spite of the sell-offs in global markets, and the dollar strengthening upward, as Local investors are taking advantage of undervalued stocks across the spectrum
• Nairametrics, however, envisages caution in selecting stocks, as market indicators show high uncertainty in the coming days.