Transcorp Power, Banks Stock Drive Equities Rally, NGX Index Rises
Transcorp Power and some tier-1 banks drove momentum on the Nigerian Exchange (NGX), pushing the All-Share Index (ASI) and other key indicators up 0.19%, stockbrokers reported.
The risers attracted buying interest after releasing their latest earnings scorecards.
Specifically, the market index rose by 473.46 basis points to close at 254,762.81, while Market capitalisation gained ₦307.41 billion, up 0.19% to ₦165.42 trillion.
Total trade volume and total value traded rose 5.11% and 65.66%, respectively. Traders transacted approximately 552.31 million units, valued at ₦37,458.05 million, across 33,047 deals.
By volume, ACCESSCORP generated 12.50% of total volume and was the most traded, followed by GTCO (9.02%), NGXGROUP (8.47%), ZENITHBANK (6.91%), and FIDELITYBK (5.50%).
In value traded, NGXGROUP accounted for 23.71% of total value traded, making it the exchange’s most traded stock.
TRANSPOWER led the gainers chart, up 9.97%, followed by CAVERTON (+9.84%), ETRANZACT (+9.68%), HMCALL (+7.36%), INTENEGINS (+7.27%), ABBEYBANK (+6.09%), and 21 others.
A total of twenty-three stocks depreciated. ETERNA led the losers, down 9.94%, followed by SOVRENINS (-9.91%), LEARNAFRCA (-9.84%), CORNERST (-9.30%), MBENEFIT (-6.85%), and NPFMCRFBK (-6.67%).
As a result, market breadth closed positive, with 27 gainers and 23 losers.
Sectoral performance was mixed today, with four of the five major market sectors down. The Insurance sector led the decline at -0.54%, followed by Consumer goods (-0.11%), Oil & Gas (-0.07%), and Industrial goods (+0.0002%). Only the Banking sector increased by +0.72%.
