NGX: Transcorp Power, First Bank among top entities as investors gain N226bn

Investors in the Nigerian equities market enjoyed the third consecutive day of profit with a gain of N226 billion at the close of trading on Wednesday.

This followed strong performances by Transcorp Power, Transcorp, First Bank of Nigeria Holdings (FBNH), and Africa Prudential Insurance in today’s trading.

After five hours of trading on Wednesday, the market capitalization increased by N226.8 billion to N56.3 trillion from N56.08 trillion posted by the bourse on Tuesday.

Similarly, the All-Share Index (ASI) increased to 99,591.64 from 99,190.46 recorded the previous day.

The market breadth was negative as 18 stocks advanced, 29 declined, while 72 others remained unchanged in 9,388 deals.

Transcorp Power led other gainers with 9.99% growth in share price to close at N319.40 from its previous price of N290.40 per share.

Transcorp, FBNH and Africa Prudential also posted 9.96%, 9.95%, and 9.49% gain in their share prices.

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

Ikeja Hotel and Tantalizers led other price decliners as they shed 10% each off their share prices to close at N6.75, and N0.36 from their previous N7.50, and N0.40 per share.

NASCON Allied Industries, Eco Bank Transnational Corporation (ETI), and Livestock Feeds also shed their share prices by 9.97%, 9.96%, and 9.82% respectively.

On the volume index, Transcorp traded 67.339 million shares valued at N1.27 billion in 349 deals followed by FBNH with 47.685 million shares worth N1.54 billion in 441 deals.

Guaranty Trust Holding (GTCO) traded 37.470 million shares valued at N1.55 billion in 441 deals.

On the value index, Transcorp Power traded stocks worth N11.78 billion in 708 deals followed by GTCO with equities worth N1.55 billion in 441 deals.

FBNH traded equities worth N1.54 billion in 441 deals.

By: Babajide Okeowo

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