Nigeria equities rose for the fourth consecutive day as the rotation to high-flying bank and Telco stocks gained steam. In addition to bargain in MTNN stocks, investors on Thursday September 3 continued to buy banking stocks so as to qualify for payment of proposed interim dividend.
Banks like GTBank, UBA, and Stanbic IBTC proposed interim dividend in their recently released half year (H1) results. Other banks results are being expected on the Nigerian Stock Exchange.
At the close of trading session on Thursday, the Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.20percent to 25,511.02 points from 25,460 points recorded the preceding trading day while the value of listed stocks rose to N13.308trillion from preceding day low of N13.282trillion.
Investors booked about N26billion gain, making the market’s negative return year-to-date (YtD) decrease to -4.9percent.
The price of MTNN shares increased most from N118 to N118.6, up by 60kobo or 0.51percent. It was followed by that of Vitafoam which increased from N5.5 to N5.78, adding 28kobo or 5.09 percent.
UACN rose from N5.95 to N6.2, adding 25kobo or 4.20percent. Zenith Bank also moved up from N16.95 to N17.2, adding 25kobo or 1.47 percent while FCMB Group advanced from N2.1 to N2.2, adding 10kobo or 4.76percent.
In 3,377 deals, investors exchanged 232,416,080 units valued at N1.315billion. Transcorp, Zenith Bank, Lasaco, Access Bank and UBA were actively traded stocks on the Bourse.
