Nigerian stocks halt slide on Dangote Cement, Guinness, MTN gains

Nigerian stocks reported their first gain in four trading days on Tuesday as the benchmark index advanced by 0.41 per cent with bellwethers Dangote Cement, Guinness and MTNN propelling the positive performance.

The banking index posted the worst result of the five sectorial indices, with tier 1 lender GTB accounting for the biggest loss on the day its earnings report is due to be issued.

Market breadth was negative with 20 losers recorded against 11 gainers.

The all-share index rose by 158.97 points to 38,720.81 points. Market capitalisation jumped to N20.259 trillion at the end of trade.

Year to date, the index is down by 3.85 per cent.

TOP FIVE GAINERS

Guinness led the flock of gainers, appreciating by 10 per cent to close at N25.30. Regal Insurance added up 10 per cent to end trade at N0.33. Jaiz Bank went up by 9.68 per cent to N0.68. Vitafoam rose to N7.75, notching up 5.44 per cent in the process. Livestock completed the top 5, climbing by 3.83 per cent to N1.90.

TOP FIVE LOSERS

Wapic led losers, declining 9.09 per cent to close at N0.50. Africa Prudential shed 8.26 per cent to end trade at N5. Fidelity Bank fell to N2.23, losing 6.69 per cent.

ETI slumped to N4.85, recording 5.83 per cent depreciation. GTB closed at N28.50, going down by 4.84 per cent.

TOP FIVE TRADES

In all, 220.857 million shares estimated at N4.206 billion were traded in 4,912 deals.

UBA was the most active stock with 24.407 million of its stocks worth N171.573 million traded in 271 deals. Also, 19.132 million units of Access shares priced at N148.117 million exchanged hands in 190 transactions.

Mutual Benefits had 17.877 million shares valued at N6.852 million traded in 23 deals. Mansard traded 17.446 million shares estimated at N17.280 million in 43 transactions. GTB traded 16.330 million shares valued at N470.571 million in 388 deals.