NGX: Investors gain N194b as Transpower, First Bank, others boost market performance

Investors in the Nigerian equities market made a N194 billion gain following strong performances by Transpower, Transcorp, First Bank, and others on Tuesday.

This followed the rise in the market capitalization to N56.08 trillion from N55.8 trillion recorded posted by the bourse on Monday.

Similarly, the All-Share Index (ASI) increased to 99,190.46 from 98,847.89 recorded the previous day.

The market breadth was negative as nine stocks advanced, 37 declined, while 76 others remained unchanged in 10,976 deals.

Transcorp and Transcorp Power led other gainers with 10% growth each in their share price to close at N17.27 and N290.40 from the previous N15.20 and N264.00 per share.

First Bank of Nigeria Holding (FBNH), The Initiate, and Juli also grew their share prices by 9.88%, 9.77%, and 9.71% respectively.

International Breweries and NASCON Allied Industries led other price decliners as they shed 10% each off their share prices to close at N4.32, and N48.15 from the previous N4.80, and N53.50 per share.

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

May and Baker Nigeria, Thomas Wyatt, and C&I Leasing with 9.93%, 9.85%, and 9.84% reduction in their share prices are other losers in today’s trading.

On the volume index, Transcorp Power traded 87.48 million shares valued at N26.4 billion in 1,007 deals followed by Transcorp Plc with 68.031 million shares worth N1.17 billion traded by shareholders in 251 deals.

United Bank for Africa (UBA) traded 23.350 million shares valued at N519.3 million in 579 deals.

Transpower traded stocks worth N25.4 billion in 1,007 deals followed by Transcorp with equities worth N1.17 billion in 251 deals.

MTN Nigeria traded stocks worth N913 million in 935 deals.

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