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Equities: Transcorp Hotels leads gainers as ASI rebounds

The Nigerian Exchange Limited (NGX), on Thursday, recorded a positive trend with the market indices appreciating by 1.05 per cent amid renewed bargain hunting. Specifically, the NGX All-Share Index rose by 554.15 points or 1.05 per cent to close at 53,275.49, compared with 52,721.34 achieved on Wednesday.

The year-to-date (YtD) gain of the index rose to 24.71 per cent. Similarly, the market capitalisation, which opened at N28.423 trillion, improved by N298 billion or 1.05 per cent to close at N28.721 trillion. Performance across sub-sector was relatively weak as the NGX Market Indices and Banking index, NGX Insurance index, NGX Consumer Goods index and the NGX Oil and Gas index fell by 0.76 per cent, 1.33 per cent, 0.23 per cent and 0.79 per cent respectively.

However, an analysis of the price movement chart showed that 21 stocks advanced, while 29 declined. Transcorp Hotels led the gainers’ table, growing by 9.89 per cent to close at N5.89 per share. Beta Glass followed with 9.74 per cent to close at N62.55, while McNichols Consolidated Plc gained 9.60 per cent to close at N1.94 per share. Veritas Kapital also gained by 9.52 per cent to close at 23k, while Multiverse Mining and Exploration rose by 9.09 per cent to close at 24k per share. Conversely, Conoil Plc topped the losers’ chart, dropping by 10 per cent to close at N28.35 per share. Eterna Oil trailed with a loss of 9.59 per cent to close at 60k, while Prestige Insurance was down by 9.09 per cent to close at 40k per share. Cham Plc dipped by 8.33 per cent to close at 20k, while Royal Exchange Assurance lost by 7.35 per cent to close at N1.26 per share. Further analysis of the activity chart indicated that Transcorp was the most active stock, exchanging 48.38 million shares valued N61.43 million.

 

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