Gains From MTN Nigeria, 18 Other Stocks Lift Market Activities To Bullish Stance.

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Activities on the Nigerian Exchange Limited (NGX) returned to positive route following gains recorded by blue chip firms.

Checks by Nairametrics showed that the gains recorded in the shares of telecom gaint, MTN Nigeria; and other blue chip stocks lifted market capitalisation to gain N364 billion or 1.35%, reversing days of bearish trend.

Consequently, the stock market closed positive amidst buy-interests with bulls dominating proceedings on the trading floor.

The All-share Index (ASI) appreciated by 1.35% to close at 50,626.04 index points as against 49,950.32 index point. In the same vein, the overall market capitalization grew by N364 billion or 1.35% to close at N27.300 trillion as against N26.936 trillion the previous day.

Market breadth closed positive with 19 gainers against only nine losers as MC Nichols Plc led the losers with 9.76% while Honeywell Flour Mills Plc led the gainers with 9.66%.


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