17th May 2019 

After quite a few days of draught in the Nigerian Bourse, merry days have finally arrived. Quite a lot was speculated about how the MTNN listing would be received in Nigeria, since the listing was through Introduction and not by IPO. 

Presently though, the ASI is basking in glory, courtesy the skyrocket rise of the MTNN stock one day post their IPO. How long this rise shall last is difficult to speculate, but for now the existing investors are dancing the night away.

Although, the general market sentiment was quite bearish, the whopping 10% MTNN rise led to a 1.53% rise in NSE ASI. Thus resulting in a market YTD of -8.14% and market capitalisation of N 12.73 trillion.

The Banking sector was let down by declines in ( GUARANTY ) and ( ACCESS ) by 1.29% and 0.77% respectively. Although the sector observed a 0.26% rise in ( ZENITHBANK ).

The oil and gas sector observed mixed sentiments, tilting towards bearish, with declines in ( MOBIL ) by 2.3% and ( FO ) by 10%, contradicted by advances in ( OANDO ) by 6.67%.

The industrial goods sector closed flat for the day, while the consumer goods sector witnessed rises in ( DANGSUGAR ) by 0.37% and ( DANGFLOUR ) by 0.31% opposed by a 0.95% drop in ( FLOURMILL )

Reporting for EasyKobo on Friday , 17 May 2019 in Lagos, Nigeria