NGX Mid-Week Trading Gains N227 Billion as Investors Engage in Buy-Interest in Transcorp Power Plc

The Nigerian Stock Market (NGX) closed mid-week positively, leading market capitalisation up by N227 billion as many investors engaged in buy-interest in Transcorp Power Plc, FBN Holdings, and 16 other companies.

The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 401.18 basis points, or 0.40%, to close at 99,591.64 basis points. Market capitalisation at the NGX rose by N227 billion to close at N 56.310 trillion from how it closed the previous day at N56.083 trillion, following an increase in market capitalisation of N193 billion.

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However, performance across the sectors was mixed. The NGX Banking Index rose by 0.2%, the NGX Consumer Goods dropped by 0.8%, and the NGX Insurance declined by 0.2%. Also, the NGX Industrial Goods and NGX Oil & Gas indices closed flat.

The NGX market breadth remained negative as 18 stocks gained relative to 30 losers.

Top Gainers: Transcorp Power led the chart with a 9.99% (approximately 10%) gain to close at N319.40 per share. This was followed by Transcorp, which gained 9.96% to close at N18.99, while FBNH rose by 9.95% to close at N34.25 per share. Africa Prudential rose by 9.49% to close at N7.50, while C&I Leasing appreciated by 9.48% to close at N3.81 per share. 

Top losers: Ikeja Hotel and Tantalizers led the chart with 10% each to close at N6.75 and 36 kobo, respectively, while NASCON Allied Industries followed with a decline of 9.97% to close at N43.35 per share. Ecobank Transnational Incorporated (ETI) lost 9.97% to close at N43.35, while Livestock Feeds depreciated by 9.82% to close at N1.47 per share.

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The total volume traded rose by 4.61% 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 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.