Positive Stock Market Close, Up N227bn

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Transcorp Power Plc and seventeen other companies continued to attract investors yesterday, leading to a favorable closing for the Nigerian stock market and a total market capitalization gain of N227 billion.

To end the day at 99,591.64 points, the All-Share Index (ASI) rose 401.18 points, or 0.40 percent. The market capitalization also increased by N227 billion, reaching N 56.310 trillion at the close of business.

Stocks in major and medium-cap companies like Africa Prudential, Fidelity Bank, Transnational Corporation (Transcorp), Transcorp Power, and FBN Holdings (FBNH) drove the recovery.

With 18 equities rising and 30 falling, market breadth stayed negative. Closing at N319.40 per share, Transcorp Power emerged as the top price gainer, up 9.99%. After that, Transcorp closed at N18.99, up 9.96%, and FBNH was next, up 9.95%, at N34.25/share.

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C&I Leasing’s share price increased 9.48% to N3.81 and Africa Prudential’s share price increased 9.49% to N7.50. Meanwhile, among the companies that ended the day with losses, Ikeja Hotel and Tantalizers topped the list with 10% and 36%, respectively, while NASCON Allied Industries came in at #9,97%, with a share price of N43.35.

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Shares of Ecobank Transnational Incorporated (ETI) fell 9.97% to N43.35, while shares of Livestock Feeds down 9.82% to N1.47.

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