NGX Gains N194bn as Transcorp Names Rally
The equities market capitalisation of the Nigerian Exchange (NGX) inched higher by about N194 billion as Transcorp names continue to rally. The sustained increase in market prices of FBNH, Transcorp Plc and Transcorp Power Plc boosted the local exchange performance.
Then, key performance indicators grew by +0.35%, though market breadth ended negative. The market’s positive performance was due to investors’ increased buying interest in TRANSPOWER, TRANSCORP, FBNH, and 7 others. At the end of trading session on Tuesday, the market index (All-Share Index) increased by 344.93 basis points today, representing a rise of +0.35% to close at 99,192.82.
The equities market activities ended on a mixed note, according to stockbrokers reports. In its market update, Atlass Portfolios Limited said total volume traded for the day reduced by -7.33%, while the total value traded increased by +59.55%. Data from the local bourse cited by stockbrokers revealed that approximately 398.13 million units valued at ₦31,788.69 million were transacted in 10,976 deals.
TRANSPOWER was the most traded stock in terms of volume, accounting for 22.00% of the total volume of trades. The newly listed company was followed by TRANSCORP (17.10%), UBA (5.87%), ACCESSCORP (4.64%), and FBNH (4.50%) to complete the top 5 on the volume chart.
Due to its large size, TRANSPOWER was also the most traded stock in value terms, with 79.93% of the total value of trades on the exchange. TRANSPOWER and TRANSCORP topped the advancers’ chart for today with a price appreciation of 10.00 per cent each.
These were followed by FBNH with (+9.88%) growth, TIP (+9.77%), JULI (+9.71%), CHAMPION (+3.92%), UNITYBNK (+1.01%), and three others. Thirty-six stocks depreciated, according to market data. NASCON and INTBREW were the top losers, with a price depreciation of -10.00% each.
LIVESTOCK (-9.44%), CADBURY (-8.95%), STERLINGNG (-8.91%), JAPAULGOLD (-8.84%), and OANDO (-6.25%) also dipped in price. Despite this, the market breadth closed negative, recording 10 gainers and 36 losers. In addition, the market sector performance closed negative. Two out of the five major market sectors went down.
The Insurance sector dropped by -3.23%, the Consumer goods sector dropped by -0.84% while the Banking sector grew by +1.14%. The Oil & Gas and Industrial sectors closed flat. Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦193.69 billion, representing a growth of +0.35%, to close at ₦56.08 trillion. #NGX Gains N194bn as Transcorp Names Rally
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