Index up 2.04% on interest from Airtel Africa and MTN Nigeria shares

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It was another positive outing for the Nigerian Exchange (NGX) Limited on Friday as it closed up 2.04 percent on buying interest in Airtel Africa, MTN Nigeria and 16 others.

The sustained upward move was fueled yesterday by 1.10 percent growth posted by the insurance sector, 0.26 percent improvement in the industrial goods space and 0.25 percent rise in the banking counter. .

The trio made up for a 2.37 percent loss recorded by the consumer goods counter, as the energy index closed unchanged when trading ended at 2:30 p.m.

Consequently, the All-Share Index (ASI) closed higher by 949.40 points to 47,554.34 points from 46,604.94 points, as the market capitalization grew by 517 trillion naira to settle at 25.902 trillion naira in compared to Thursday’s closing value of 25.385 trillion naira.

The stock market was quiet on Friday as the most active stock FCMB only traded 16.8 million units while MTN Nigeria sold 16.4 million units. Fidelity Bank traded 7.5 million shares, Zenith Bank traded 6.4 million shares and Access Holdings traded 5.8 million shares.

From an analysis of the activity chart, investors traded a total of 99.0 million shares worth N5.5 billion yesterday in 2,780 deals compared to 138.6 million shares worth N2.2 billion traded in 3,434 deals, indicating an increase in trade value. of 154.41 percent, a decrease in the number of operations of 19.04 operations and a drop in trading volume of 28.58 percent.

Red Star Express finished the day at the top of the winners list after its value rose 9.66% to N2.27, Regency Assurance appreciated 8.70% to 25 Kobo, Livestock Feeds rose 8, 16% to N1.06, Prestige Insurance expanded by 7.50 per cent to 43 Kobo, and Airtel Africa improved by 7.41 per cent to N1,450.00.

By contrast, Capital Hotel topped the loser’s record yesterday after it dipped 10.00 percent to N3.06, Nestle Nigeria slipped 10.00 percent to N963.90, International Breweries drained 2.27 percent to N4.30, GTCO lost 1.48 per cent to N20.00, and Wema Bank depreciated by 0.97 per cent to N3.07.

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