MTN Share Price Hit New High as Stock Market Maintained Bullish Momentum
- The Nigerian stock market extended its rally on Friday, gaining for the ninth consecutive session
- The advance was supported by broad-based demand for major stocks, including NAHCO, Ecobank
- Market sentiment remained strongly positive as 44 stocks gained against 27 decliners
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market closed positively on Friday, extending its winning streak to nine consecutive sessions, driven by strong demand for blue-chip and mid-cap stocks.
Source: Getty Images
Gains were recorded across key sectors as investors continued to position in banking, telecommunications, industrial, and consumer goods stocks, sustaining overall bullish sentiment.
Consequently, the benchmark All-Share Index (ASI) rose by 2.49% to close at 217,167.57 points, up from 211,901.01 points in the previous session.
Market capitalisation also increased by N3.39 trillion to close at N139.83 trillion, while the year-to-date (YTD) return improved to 39.56%.
Market breadth remained strong, with 44 gainers compared to 27 decliners. NAHCO and Transnational Corporation of Nigeria Plc topped the gainers’ chart, while Mecure Industries Plc led the losers.
MTN Nigeria Communications Plc closed at N825.70, up 9.27%, its highest level.
Market activity jumps
Total market activity surged, with traded volume rising 115.08% to 1.26 billion shares, valued at N54.35 billion across 56,923 deals.
Sterling Financial Holdings Company Plc led in volume with 383.85 million shares, accounting for 30.51% of total trades. Aradel Holdings Plc dominated value traded at N9.75 billion, representing 17.94% of total market value.
Top gainers
- Nuhu Bamalli Airport Hotel (NAHCO) rose from N200.00 to N220.00 (+10.00%)
- Transnational Corporation of Nigeria Plc advanced from N5.50 to N6.05 (+10.00%)
- Ecobank Transnational Incorporated climbed from N61.20 to N67.30 (+9.97%)
- Access Holdings Plc gained from N27.20 to N29.90 (+9.93%)
- DAAR Communications Plc rose from N1.66 to N1.82 (+9.64%)
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Top losers
- Mecure Industries Plc fell from N67.30 to N60.60 (–9.96%)
- Honeywell Flour Mills Plc dropped from N21.00 to N19.00 (–9.52%)
- Abbey Mortgage Bank Plc declined from N8.95 to N8.10 (–9.50%)
- eTranzact International Plc slipped from N20.50 to N18.60 (–9.27%)
- Caverton Offshore Support Group Plc lost from N6.10 to N5.55 (–9.02%)
Volume and value leaders
- Sterling Financial Holdings Company Plc: 383.85 million shares worth N3.07 billion
- Access Holdings Plc: 90.26 million shares worth N2.65 billion
- Zenith Bank Plc: 70.76 million shares worth N8.84 billion
- United Bank for Africa Plc: 54.59 million shares worth N2.63 billion
- Japaul Gold and Ventures Plc: 44.44 million shares worth N146.37 million
Dangote to list refinery on Nigeria’s stock exchange
Legit.ng earlier reported that the Founder of Dangote Group, Alhaji Aliko Dangote, has revealed plans to list the Dangote Refinery on the Nigerian Stock Exchange, allowing citizens to own shares in what he described as a “national asset.”
Dangote made this known at the 2025 Inaugural Annual Downstream Petroleum Week, organised by the House of Representatives Committee on Petroleum Resources (Downstream).
Represented by the Group Chief Strategy Officer of Dangote Industries Limited, Mr Aliyu Suleman, he urged policymakers to prioritise frameworks that promote innovation, competition, and productivity within the petroleum sector.
Source: Legit.ng
