MTNN, PRESCO Drive Investors’ Attention As NGX Equity Market Gain Rise By N41.45 Billion

Buying attention continued yesterday as investors increased their focus on MTNN (+0.98%), PRESCO (+2.46%), and ZENITHBANK (+0.75%). Thus, the all-share index grew by +0.16% to close at 47,363.98 basis points, up 76.89 basis points from the previous day's close of 47,287.09 basis points.

Despite the growth, the ASI index still fell short of the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point) by 118.75 bps.

The Week-to-Date (W-t-D) and Year-to-Date (Y-t-D) indices stayed positive by +0.20% and +10.88%, respectively, while the Month-to-Date (M-t-D) index declined by -0.06%.

Unfortunately, the volume of trade fell by 22.23% to close at 261.56 million units traded in 4,672 transactions, compared to the previous session's figure of 336.31 million units traded, while the value of shares fell by 23.59% to close at NGN4.48 billion, compared to the previous session's figure of NGN5.86 billion traded.

Consequently, the equity market gained another NGN41.45 billion following its equity market position close of NGN25,526.61 trillion as against its previous day's close of NGN25,485.16 trillion.

CUTIX, was the most dominant stock by volume, with 31.75 million units traded, while MTNN, with NGN1.83 billion worth of shares traded, dominated the value section of trade.

PRESCO, with a share value of NGN428.94 billion, and ACCESS, with a volume trade of 15.94 million units, were some of the notable mentions.

As measured by market breadth, the mood in the market was negative as 21 stocks gained relative to 19 stocks that lost.

The most gains were made by RTBRISCOE (+9.84%), which closed trading at NGN0.67/unit,  UACN (+9.84%), which closed trading at NGN10.05/unit, OANDO (+8.83%), which closed trading at NGN5.30/unit, and NEIMETH (+7.27%), which closed trading at NGN1.77/unit, while ROYALEX (-9.46%), which closed trading at NGN1.34/unit, ABCTRANS (-8.57%), which closed trading at NGN0.32/unit, MAYBAKER (-6.31%), which closed trading at NGN4.60/unit, and TRANSCORP (5.22%), which closed trading at NGN1.09/unit, registered the most losses.