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MTN Nigeria Gains 10% On First Day Of Trading, SUNU, ABC Record High Volumes - Business - Nairaland

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MTN Nigeria Gains 10% On First Day Of Trading, SUNU, ABC Record High Volumes by fatboyebele(m): 10:46am On May 17, 2019
MTN Nigeria gains 10% on first day of trading

The Nigerian Stock Exchange ended Thursday’s trading session in positive territory. The All Share Index closed at 28,438.19 basis points, up 0.54%.

Year to date, the index is down 9.52%.

Top Gainers and Losers

MTN Nigeria Plc was the best performing stock today. The stock gained 10% to close at N99, in its first trading session ever. 5.5 million shares valued at N548 million were traded in 15 deals.

NPF Microfinance Bank Plc appreciated by 9.70% to close at N1.47. ABC Transport Plc rounds up the top three gainers for today. The stock gained 7.41% to close at N0.29.

On the flip side, Unity Bank Plc was the worst performing stock, declining by 9.72% to close at N0.65. Cutix Plc also fell by 8.33% to close at N1.65. Sovereign Trust Insurance Plc rounds up the top three losers for the day. The stock shed 8.00% to close at N0.23.

Top Trades by Volume

Transnational Corp of Nigeria Plc was the most actively traded stock today. 105 million shares valued at N130 million were traded in 74 deals. Access Bank Plc was next with 23.5 million shares valued at N218 million traded in 164 deals.United Bank of Africa Plc rounds up the top three most actively traded stocks today with 19.7 million shares valued at N121 million traded in 293 deals.

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

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