NGX: Dangote Sugar, Transpower, MTNN boost equities market with N420bn profit

Strong performances by Dangote Sugar, Transcorp Power, MTN Nigeria, and others propelled investors in the Nigeria equities market to a N420 billion gain on Thursday.

This followed the rise in the market capitalization to N56.7 trillion from N56.3 trillion after five hours of trading today.

Similarly, the All-Share Index (ASI) increased to 100,335.30 from 99,591.64 recorded the previous day.

The market breadth was negative as 26 stocks advanced, 33 declined, while 59 others remained unchanged in 9,708 deals.

MTN Nigeria and Dangote Sugar Refinery led other gainers with 10% growth in share price to close at N201.30 and N50.60 from the previous N183.00 and N46.00 per share.

Transcorp Power, Juli, and NASCON Allied Industries also grew their share prices by 9.99%, 9.96%, and 9.92% respectively.

READ ALSO: NGX: Stock market rebounds from trading losses as investors make N345bn

FTN Cocoa Processors and Guinness Nigeria led other price decliners as they shed 10% each off their share prices to close at N1.53, and N45.90 from the previous N1.70 and N51.00 per share.

Transcorp, Ikeja Hotel, and Red Star Express with 9.95%, 9.93%, and 9.87% cuts in their share prices completed the list of losers in today’s trading.

On the volume index, Transcorp traded 301.363 million shares valued at N5.65 billion in 2,184 deals followed by Sterling Financial Holding with 33.320 million shares worth N150.7 million traded by shareholders in 191 deals.

First Bank of Nigeria Holding (FBNH) traded 23.211 million shares valued at N773.9 million in 402 deals.

On the value index, Transcorp traded stocks worth N5.65 billion in 2,184 deals followed by Dangote Cement with equities worth N4.23 billion in 670 deals.

Transcorp Power traded stocks worth N3.91 billion in 349 deals.

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