NGX Rallies As Market Cap Gains ₦2.27trn, MTNN Surges 9.2 Percent

• The NGX All-Share Index rose 1.42 percent to 249,804.56 points, while market capitalisation climbed ₦2.27trn to ₦162.16trn.

• MTN Nigeria led activity among major stocks, gaining 9.20 percent to ₦890, while 36 stocks advanced against 22 decliners.

• C&I Leasing and FTG Insurance topped the gainers’ chart with 10 percent increases, while Transcorp Power fell 9.96 percent to lead decliners.

September 18, () – Nigeria’s equities market closed the week on a positive note on Friday, with market capitalisation rising by ₦2.27 trillion as buying interest across several stocks lifted the benchmark NGX All-Share Index.

Market capitalisation increased from ₦159.892 trillion at the open to ₦162.157 trillion at the close, representing a ₦2.265 trillion gain during the session.

The All-Share Index also advanced from 246,315.38 points to 249,804.56 points, translating to a 3,489.18-point or 1.42 percent increase.

Market breadth was positive, with 36 stocks recording price gains compared with 22 decliners.

Gainers

CILEASING surged 10.00 percent (₦5.00 to ₦5.50)

FTGINSURE surged 10.00 percent (₦1.50 to ₦1.65)

MTNN jumped 9.20 percent (₦815.00 to ₦890.00)

NSLTECH climbed 9.09 percent (₦0.66 to ₦0.72)

MBENEFIT climbed 9.09 percent (₦3.30 to ₦3.60)

Decliners

TRANSPOWER plunged 9.96 percent (₦197.70 to ₦178.00)

CADBURY slumped 9.32 percent (₦58.45 to ₦53.00)

OMATEK fell sharply 8.40 percent (₦1.31 to ₦1.20)

SOVRENINS declined 6.78 percent (₦2.36 to ₦2.20)

ELLAHLAKES slipped 5.11 percent (₦8.80 to ₦8.35)

Stocks such as HBM NIGERIA PLC, SEPLAT ENERGY PLC, CUSTODIAN INVESTMENT PLC, JOHN HOLT PLC, JULIUS BERGER NIGERIA PLC and CHAMPION BREWERIES PLC also featured in the session.