Positive sentiments persisted on the equities sector of the Nigerian Exchange Limited (NGX) yesterday, as share price appreciations in Transcorp Power Plc and 25 others buoyed the All-Share Index (ASI) further by 0.8 percent. At the close of transactions yesterday, the ASI rose by 743.66 points, representing a gain of 0.75 per cent, to close at 100,335.30 points. Similarly, the overall market capitalisation value gained N421 billion to close at N56.731 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Transcorp Power, MTN Nigeria (MTNN), Dangote Sugar Refinery, NASCON Allied Industries and Oando. Analysts at Afrinvest said:
“Tomorrow (today), we expect the bulls to sustain dominance due to strategic positioning.”Market breadth closed negative, recording 26 gainers and 33 losers. MTNN and Dangote Sugar Refinery recorded the highest price gain of 10 per cent each to close at N201.30 kobo and N50.60 kobo respectively, while Transcorp Power followed with a gain of 9.99 per cent to close at N351.30 kobo. Juli appreciated by 9.96 per cent to close at N4.97 kobo, while NASCON Allied Industries also gained 9.92 per cent to close at N47.65 kobo.
On the other hand, FTN Cocoa Processors and Guinness Nigeria led the losers’ chart by 10 per cent each to close at N1.53 kobo and N45.90 kobo while Transnational Corporation (Transcorp) followed with a decline of 9.95 per cent to close at N17.10 kobo.
Ikeja Hotel declined 9.93 per cent to close at N6.08, while Red Star Express shed 9.87 per cent to close at N3.38, per share.The total volume traded rose by 33.19 per cent to 554.717 million units, valued at N17.731 billion, and exchanged in 9,708 deals. Transactions in the shares of Transcorp topped the activity chart with 301.363 million shares valued at N5.650 billion. Sterling Financial Holdings Company followed with 33.320 million shares worth N150.785 million, while FBN Holdings (FBNH) traded 23.211 million shares valued at N773.912 million.
United Bank for Africa (UBA) traded 18.377 million shares valued at N400.299 million, while Zenith Bank transacted 17.080 million shares worth N583.927 million.
