Buy-interest in Transcorp Power Lifts Stock Market by 0.35%

Kayode Tokede

The stock market yesterday sustained its positive run for the second day as the market indicator gained 0.35 per cent on investors’ buy-interest in Transcorp Power Plc and nine others.

The NGX All Share Index (ASI) rose by 342.57 basis points or 0.35 per cent to close at 99,190.46 basis points. Accordingly, market capitalisation gained by N193 billion to close at N56.083 trillion.

Consequently, the stock market Month-to-Date and Year-to-Date returns settled at -0.8per cent and +32.7per cent, respectively.

From a sectoral perspective, the NGX Insurance dropped by 3.2per cent and NGX Consumer Goods (-dropped by 0.8per cent, while the NGX Banking advanced by 1.1per cent

Meanwhile, the NGX Industrial Goods and NGX Oil & Gas indices closed flat.

As measured by market breadth, market sentiment was negative, as 10 stocks gained relative to 37 losers. Transcorp and Transcorp Power recorded the highest price gain of 10 per cent each to close at N17.27 and N290.40 respectively, while FBNH followed with a gain of 9.88 per cent to close at N31.15, per share.

TIP went up by 9.77 per cent to close at N2.36, while Juli appreciated by 9.71 per cent to close at N4.52, per share.

On the other hand, International Breweries and NASCON Allied Industries led the losers’ chart by 10 per cent each to close at N4.32 and N48.15, respectively, while May & Baker Nigeria followed with a decline of 9.93 per cent to close at N5.08, per share.

Thomas Wyatt Nigeria depreciated by 9.85 per cent to close at N1.83 and C&I Leasing declined by 9.84 per cent to close at N3.48, per share.

The total volume traded decreased by 7.33 per cent to 398.134 million units, valued at N31.789 billion, and exchanged in 10,976 deals.

Transactions in the shares of Transcorp Power topped the activity chart with 87.486 million shares valued at N25.406 billion. Transcorp followed with 68.031 million shares worth N1.175 billion, while United Bank for Africa (UBA) traded 23.350 million shares valued at N519.512 million.

Access Holdings traded 18.473 million shares valued at N380.967 million, while FBNH sold 17.912 million shares worth N540.509 million.