Stocks on the Nigerian Exchange Group edged up marginally on Tuesday as investors exchanged a total of 1.82 billion shares valued at ₦5.02bn in 4,669 deals.
The deals pushed the market capitalisation up by ₦2.529bn from ₦27.850bn to ₦27.853bn, while the All-Share Index rose by 11.54 basis points to close at 51,138.92 basis points.
The positive performance was driven in part by the performance of one company, said the Executive Vice Chairman of Hicap Securities Limited, David Adonri.
“The emphatic performance of Transcorp Plc contributed immensely to the positive movement of the market today. Insurance companies dominated the losers side of the market.
“The market has been low keyed in recent times with small cap stocks dominating so, the powerful showing by Transcorp lifted the market out of doldrum,”he said
Transcorp Plc led Tuesday’s volume and value charts with 1.60 billion units of shares that were traded in deals worth ₦3.09bn.
It also topped the gainer’s log with a 9.73% or 18 kobo gain to close at ₦2.03 per share.
R T BRISCOE PLC also rose, from 22 kobo per share to close at 24 kobo per share, gaining 2 kobo or or 9.09%.
It was followed by INTERNATIONAL ENERGY INSURANCE PLC which opened at ₦1.20 per share and closed at ₦1.29 per share, advancing by 9 kobo or 7.50%.
These gains, outweighed the losses in ZENITH BANK PLC (-0.91%), LAFARGE AFRICA PLC. (-0.21%), and ACCESS HOLDINGS PLC (-0.56%).
Overall, market sentiment was mixed as an equal number of stocks (21) gained and lost.
VITAFOAM NIG PLC. topped the losers’ table, falling from ₦18.50 per share to ₦16.90 per share by ₦1.60 per share or 8.65%.
It was followed by LINKAGE ASSURANCE PLC shedding 0.04k or 8.33% to close at 0.44k from 0.48k per share. While CHAMS HOLDING COMPANY PLC fell from 0.25k per share to 0.23k per share, losing 0.02k or 8.00%.
Confidence Okwuchi
