Economy Politics

Stock market gains N15bn on MTNN price rally

NSE: Investors staked N3.89bn on 383.3m shares in bullish trading
Written by Maritime First

…Guaranty Trust Bank, United Bank for Africa top laggards’ table***

..As Edo 2020: Group promises to mobilise women for Obaseki’s reelection***

The key market indices of the Nigerian Stock Exchange (NSE) on Friday rebounded by 0.12 per cent following price appreciation achieved by MTN Nigeria Communications.

Thep MTN Nigeria Communication dominated the gainers’ table with N1.10 to close at N16.10 per share.

Vitafoam Nigeria followed with 26k to close at N3.85, while International Breweries added 25k to close at N3.85 per share.

GlaxosmithKline gained 20k to close at N4.80, while PZ Cussons appreciated by 15k to close at N4.50 per share.

Consequently, the All-Share Index which opened at 24,276.56 rose by 29.80 points or 0.12 per cent to close at 24,306.36.

Also, the market capitalisation of listed equities inched higher by N15 billion or 0.12 per cent to N12.679 trillion from N12.664 trillion achieved on Thursday.

On the other hand, Guaranty Trust Bank topped the laggards’ table, dropping 30k to close at N22.45 per share.

United Bank for Africa trailed with a loss of 15k to close at N6.25, while Zenith Bank lost 5k to close at N16.70, per share.

ABC Transport dipped 5k to 51k, while FBN Holdings also declined by 5k to close at N5.20 per share.

An analysis of the activity chart indicates that Sterling Bank was the most active, exchanging 17.66 million shares valued at N22.63 million.

Zenith Bank followed with an account of 7.47 million shares worth N47.06 million, while Transcorp sold 7.41 million shares valued at N4.69 million.

Fidelity Bank exchanged a total of 6.20 million shares worth N11.11 million.

In all, the volume of shares traded closed lower with an exchange of 131.63 million shares valued at N899.49 million in 3,044 deals.

This was in contrast with 192.08 million shares worth N2.47 billion exchanged hands in 3,833 deals on Thursday.

In the meantime, a group, Edo Women League, on Friday unveiled plans to mobilise women to cast their votes for Gov. Godwin Obaseki in the Sept. 19 Governorship election in the state.

The Leader of the group, Mrs Uwaila Airueghian, told newsmen in Benin that the group would throw its weight behind Obaseki, the PDP candidate because he stood for women empowerment.

Airueghian lauded the various strategies deployed by the Obaseki-led administration to restore the pride and dignity of Edo women.

“Worthy of note, are the efforts undertaken by our amiable governor to discourage illegal migration and human trafficking in our state.

“We have not forgotten the series of sensitisation campaigns by the governor in churches, mosques and the palace of our royal father, the Oba of Benin, Ewuare II.

“He didn’t stop there. He travelled to Italy and engaged leaders of that country and agencies of the United Nations to garner international support towards solving the problem.

“Obaseki put in place a robust structure that catered to the needs of Libya returnees. All these efforts have been documented and hailed by several development agencies,” she said.

Airueghian also said that the governor appointed over 100 women into positions such as Commissioners, Special Advisers and heads of agencies, among others.

According to her, the state government has made several laws and policies that protect women and the girl-child.

“Obaseki deserves our votes and we will go all out on September 19 to endorse him for another term in office,” she added.

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Maritime First