Equities Investors See N420bn as MTNN, TRANSPOWER Rally

Buying interest in MTN Nigeria (Ticker: MTNN), Transcorp Power Plc (Ticker: TRANSPOWER) and Dangote Sugar Refinery (Ticker:DANGSUGAR) drove the Nigerian Exchange (NGX) upward on Thursday, lifting the equities market cap by more than N420 billion.

The sustained market run pushed key performance indicators higher despite elevated yield on government borrowing instruments in the fixed income market. The equities market performance indicators were boosted for the fourth days consecutively after two weeks of downturn in the local bourse as economic uncertainties dampened investors sentiment.

Due to capital appreciation, market has expanded by ₦2.70 trillion in four days, according to Atlass Portfolios Limited.  At the close of the trading session, the market index or All-Share Index increased by 743.66 basis points today, representing a rise of +0.75% to close at 100,335.30.

However, market activities were mixed, stockbrokers said in their update. Total volume traded for the day increased by +33.19%, while the total value traded decreased by -9.11%. Stockbrokers said approximately 554.72 million units valued at ₦17,731.28 million were transacted in 9,708 deals. TRANSCORP was the most traded stock in terms of volume, accounting for 54.42% of the total volume of trades.

The company was followed by STERLINGNG (6.02%), FBNH (4.19%), UBA (3.32%), and ZENITHBANK (3.08%) to complete the top 5 on the volume chart.  Likewise, TRANSCORP was also the most traded stock in value terms, with 60.41% of the total value of trades on the exchange.

DANGSUGAR, and MTNN topped the advancers’ chart for today with a price appreciation of 10.00 percent each. The top performers were trailed by TRANSPOWER with (+9.99%) growth, JULI (+9.96%), NASCON (+9.92%), CORNERST (+9.29%), INTENEGINS (+9.21%), and eighteen others.

Thirty-two (32) stocks depreciated, according to stock market data. FTNCOCOA and GUINNESS were the top losers, with a price depreciation of -10.00% each. On the loser chart are: TRANSCORP (-9.95%), IKEJAHOTEL (-9.93%), UPDC (-8.33%), LINKASSURE (-7.50%), and FBNH (-4.38%). Given the trading pattern, the market breadth closed negative, recording 26 gainers and 32 losers.

Today, the market sector performance was par, as two of the five major market sectors were up, led by the Consumer goods sector which grew by +0.62%, the Industrial sector popped up by +0.01%, while the Banking and Insurance sectors were down by -2.57% and -0.15% respectively. The Oil & Gas sector closed flat.

Overall, the equities market capitalisation of the Nigerian Exchange gained ₦420.47 billion, representing a growth of +0.75%, to close at ₦56.73 trillion. #Equities Investors See N420bn as MTNN, TRANSPOWER Rally Anti-Homosexuality: Uganda Faces Difficulties Accessing External Funding –Fitch

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