Equity market further appreciates, investors gain N420bn

The domestic bourse on Wednesday closed on the positive with a gain of 0.75 percent as investors sustained buy interest in the shares of Transcorp Power (TransPower), alongside Tier-one banks.

Specifically, the shares of Transpower, which opened at N290.40, gained 9.99 percent to close at N319.40 per share.
Consequently, the Nigerian Exchange Ltd. (NGX) All-Share Index gained 0.75 percent, or 744 points, to close at 99,591.64, as against 98,847.89 recorded on Tuesday.
Investors also gained N420 billion, or 0.75 percent, as the market capitalization, which opened at N55.890 trillion, closed at N56.310 trillion.
As a result, the year-to-Date  return rose to 33.19 percent.
Sustained investor interest in Transpower, FBN Holdings, Transnational Corporation (Transcorp), and C&I Leasing kept the market’s performance green.
However, an analysis of market activities showed trade turnover, which settled lower relative to the previous session, with the value of transactions down by 38.63 percent.
A total of 416.48 million shares valued at N19.51 billion were exchanged in 9,338 deals, compared to 429.64 million shares valued at N19.92 billion exchanged in 10,749 deals posted in the previous session.
Meanwhile, TransPower led the gainers log by 9.99 percent to close at N319.40, and Transcorp followed closely by 9.96 percent to close at N18.99 per share.
FBNH added 9.95 percent to close at N34.25, Africa Prudential Plc rose by 9.49 percent to close at N7.50, and C&I Leasing Plc appreciated by 9.48 percent to close at N3.81 per share.
Conversely, Tantalizers and Ikeja Hotels led the losers’ log in percentage terms of 10 each to close at 36k and N6.75 per share, respectively.
National Salt Company of Nigeria (NASCON) lost 9.97 percent to close at N48.15, and Ecobank Transnational Incorporated (ETI) shed 9.96 percent to close at N24.10.
Also, Livestock Feed Plc went down by 9.82 percent to close at N1.47 per share.
Transcorp led the activity log in volume with a trade of 67.34 million shares valued at N1.28 billion; FBNH followed with 47.69 million shares worth N154.79 million.
Guaranty Trust Holding Company (GTCO) traded 37.47 million shares valued at N1.56 billion, while TransPower sold 36.86 million shares worth N11.78 billion to lead the chart in value.
The United Bank of Africa (UBA) transacted 29.78 million shares worth N660.45 million.
However, market breadth closed negative, with 29 equities on the laggards table and 18 others on the leaders table.(NAN)(
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