The Nigerian equities market on Thursday continued its positive streak by N421 billion gain on share price appreciations in Transcorp Power Plc and 25 others.
The Nigerian Exchange Limited All-Share Index (NGX ASI) rose BY 743.66 basis points or 0.75 percent, to close at 100,335.30 basis points. Similarly, the overall market capitalisation value gained N421 billion to close at N56.731 trillion.
The market’s positive performance was driven by price appreciation in large and medium capitalised stocks which are; Transcorp Power, MTN Nigeria Communications (MTNN), Dangote Sugar Refinery, NASCON Allied Industries, and Oando.
Market breadth closed negative, recording 26 gainers and 33 losers. MTNN and Dangote Sugar Refinery recorded the highest price gain of 10 per cent each to close at N201.30 and N50.60 respectively, while Transcorp Power followed with a gain of 9.99 percent to close at N351.30, per share.
Juli appreciated by 9.96 percent to close at N4.97, while NASCON Allied Industries gained 9.92 percent to close at N47.65, per share. On the other hand, FTN Cocoa Processors and Guinness Nigeria led the losers’ chart by 10 percent each to close at N1.53 and N45.90 respectively, while Transnational Corporation (Transcorp) followed with a decline of 9.95 percent to close at N17.10, per share.
Ikeja Hotel declined 9.93 percent to close at N6.08, while Red Star Express shed 9.87 percent to close at N3.38, per share.
The total volume traded rose by 33.19 percent to 554.717 million units, valued at N17.731 billion, and exchanged in 9,708 deals. Transactions in the shares of Transcorp topped the activity chart with 301.363 million shares valued at N5.650 billion. Sterling Financial Holdings Company followed with 33.320 million shares worth N150.785 million, while FBN Holdings (FBNH) traded 23.211 million shares valued at N773.912 million.
United Bank for Africa (UBA) traded 18.377 million shares valued at N400.299 million, while Zenith Bank transacted 17.080 million shares worth N583.927 million.
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