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Nigeria: Nigerian Stocks End Losing Streak On Seplat, MTN Gains

The all-share index closed 0.15 per cent.

Nigerian stocks expanded by 0.15 per cent on Wednesday, partly erasing the losses posted at the two previous sessions in an advance led by Seplat and MTN Nigeria.

Helping gains, the oil and gas index moved 0.92 per cent to 314.21 basis points, the most advance by the five sectorial indexes tracked by the bourse

“We expect market sentiment to be a mix of bargain hunting and profit-taking in tomorrow’s trading session,” said analysts at broker and investment bank Afrinvest.

Trade ended with a negative breadth, with 28 gainers recorded against 21 losers.

The all-share index closed at 38,564.70 basis points, just as market capitalisation climbed to N20.099 trillion at the end of trade. Year to date, the index is down by 4.24 per cent.

TOP FIVE GAINERS

Cornerstone topped the gainers’ chart, appreciating by 10 per cent to close at N0.55. Morison added 9.68 per cent to end trade at N1.36. Learn Africa went up by 6.52 per cent to N0.98. Africa Prudential rose to N6.40, notching up 5.79 per cent. Courteville completed the top 5, climbing by 5 per cent to N0.21

TOP FIVE LOSERS

Abbey Building Society led losers at Tuesday’s trade, declining by 9.52 per cent to close at N0.95. Consolidated Hallmark shed 9.46 per cent to end trade at N0.67.

Consumer Warehouse Group slipped to N1.15, losing 7.26 per cent. Wapic slumped to N0.53, recording 7.02 per cent depreciation. Regal Insurance closed at N0.45, going down by 6.25 per cent.

TOP FIVE TRADES

A total of 302.723 million shares estimated at N2.810 billion was traded today in 4,387 deals.

Sterling Bank traded 37.473 million shares worth N57.825 million in 498 deals. ETI had 27.396 million shares priced at N142.467 million exchange hands in 29 transactions. Wema transacted 27.146 million shares valued at N15.002 million in 95 deals.

GTB traded 26.492 million shares estimated at N745.342 million in 461 transactions. Japaul Gold traded 22.137 million shares valued at N22.137 million in 66 deals.