Equity market investors on Tuesday saw N227bn added to their wealth as the Nigerian Exchange stayed in the green zone.
The All-Share Index and market capitalisation appreciated by 0.40 per cent to close at 99,591.64 and N56.310tn, on the back of positive sentiments in the stocks of Transcorp, FBN Holdings and Africa Prudential.
Investors traded 416.48 million units of shares for N19.50bn in 9,338 deals, compared to 398.13 million that exchanged hands on Tuesday.
At the close of trading activities, 123 equities were traded.
Investors’ sentiment was negative as there were 18 gainers and 30 losers.
The top three gainers remained the same for the second consecutive day as the newly listed Transcorp Power, Transcorp and FBN Holdings gained 9.99 per cent, 9.96 per cent and 9.95 per cent to close at N319.40, N18.99 and N34.25 per unit, respectively.
The shares of Transcorp Power appreciated by N79.4 or 33.08 per cent from N240 per unit it was listed at on Monday.
Speaking at the exchange upon the listing, Transcorp Power’s Managing Director/Chief Executive Officer, Peter Ikenga, said, “We embark on this new chapter with a sense of purpose, innovation, and a commitment to continue to deliver sustainable energy solutions in Nigeria and beyond.”
On the decliners chart were Ikeja Hotel and Tantalizer, which lost 10 per cent to close at N6.75 and N0.36 each.
NASCON Allied Industries remained on the losers’ chart, declining further by 9.97 per cent to close at N43.35.
Analysts said that investors were taking early profit on NASCON despite good earnings performance in 2023.
For the full year, the company sales stood at N80.83bn compared to N58.79bn in 2022.
Net income dipped to N3.73bn from N5.47bn in the previous year, while basic earnings per share from continuing operations improved to N5.18 from N2.06 in the prior period.
Meanwhile, performance across the sectors was sluggish with the Insurance and Consumer Goods sectors posting losses of 0.15 per cent and 0.83 per cent, respectively, buoyed by sell pressure in NASCON, Dangote Sugar and Honeywell Flour.
The banking sector emerged as the sole gainer with a 0.24 per cent increase, driven by buy interest in Fidelity Bank and Sterling Financial Holdings.
The Oil/Gas and Industrial Goods indices held steady from the previous session.
Indigenous conglomerate, Transcorp, took the spotlight as the most traded security in terms of volume with 67.34 million units transacted in 349 deals, while Transcorp Power led in traded value at N11.78bn.
