Stock Market Up N227bn on Buy Interest in FBN Holdings, 17 Others

Kayode Tokede 

The Nigerian stock market yesterday closed positive as the overall market capitalization gained N227 billion on investors buy-interest in Transcorp Power Plc, FBN Holdings Plc and 16 others.

As Transcorp Power and FBN Holdings gained 10 per cent, the Nigerian Exchange Limited All-Share Index (NGX ASI) gained 401.18 basis points or 0.40 per cent to close at 99,591.64 basis points. Also, market capitalisation rose by N227 billion to close at N 56.310 trillion.

Performance across the sectors was mixed, as the NGX Banking Index added 0.2per cent index advanced, while the NGX Consumer Goods dropped by 0.8per cent and NGX Insurance dipped by 0.2per cent. Meanwhile, the NGX Industrial Goods and NGX Oil & Gas indices closed flat.

However, market breadth remained negative as 18 stocks gained relative to 30 losers. Transcorp Power emerged the highest price gainer of 9.99 per cent to close at N319.40, per share. 

Transcorp followed with a gain of 9.96 per cent to close at N18.99, while FBNH advanced by 9.95 per cent to close at N34.25, per share.

Africa Prudential rose by 9.49 per cent to close at N7.50, while C&I Leasing appreciated by 9.48 per cent to close at N3.81, per share. On the other side, Ikeja Hotel and Tantalizers led others on the losers’ chart with 10 per cent each to close at N6.75 and 36 kobo respectively, while NASCON Allied Industries followed with a decline of 9.97 per cent to close at N43.35, per share.

Ecobank Transnational Incorporated (ETI) lost 9.97 per cent to close at N43.35, while Livestock Feeds depreciated by 9.82 per cent to close at N1.47, per share.

The total volume traded rose by 4.61 per cent to 416.478 million units, valued at N19.508 billion, and exchanged in 9,338 deals. Transactions in the shares of Transcorp led the activity with 67.339 million shares worth N1.279 billion. FBNH followed with account of 47.685 million shares valued at N1.548 billion, while Guaranty Trust Holding Company (GTCO) traded 37.470 million shares valued at N1.555 billion.

Transcorp Power traded 36.893 million shares worth N11.784 billion, while United Bank for Africa (UBA) traded 29.754 million shares worth N660.452 million.