The Nigerian equities market continued its bullish run as investors showed strong demand for Transnational Corporation (Transcorp) shares and FBN Holdings.
The positive sentiment led to a 0.40% increase in the Nigerian Exchange (NGX) benchmark indices, resulting in a net capital gain of N227 billion.
The All Share Index (ASI), which tracks the overall market performance, rose by 0.40%, equivalent to 401.18 points, closing at 99,591.64 points.
The aggregate market capitalization of all quoted equities increased by N227 billion to reach N56.310 trillion.
Despite having more losers than gainers, the overall market positivity was driven by the notable interest in Transcorp and its newly listed subsidiary, Transcorp Power, along with the sustained demand for FBN Holdings.
Key Highlights:
All Share Index (ASI): Increased by 0.40% to close at 99,591.64 points.
Market Capitalization: Rose by N227 billion to close at N56.310 trillion.
Gainers: Transcorp Power and Transcorp led with gains of 9.99% and 9.96%, respectively. FBN Holdings, Africa Prudential, and C & I Leasing also recorded notable gains.
Losers: Ikeja Hotel and Tantalizers led with declines of 10% each, followed by NASCON Allied Industries, Ecobank Transnational Incorporated (ETI), and Livestock Feeds.
Trading and Volume:
Total Volume Traded: Rose by 4.61% to 416.478 million shares.
Total Value Traded: Amounted to N19.508 billion.
Top Traded Stocks: Transcorp, FBN Holdings, Guaranty Trust Holding Company (GTCO), Transcorp Power, and United Bank for Africa (UBA).
Experts say the positive trajectory reflects ongoing investor optimism, particularly in selected stocks.
Transcorp Power, newly listed on Monday, remained a major attraction, with a nearly 10% daily allowable price change.
Also, intense trading activity and sustained demand contributed to the equities market’s overall performance.
