- Stocks Gain N63bn, Transcorp Hotels Profit Drops by 60%
The Nigerian Stock Exchange market capitalisation appreciated by N63bn at the close of trading on Thursday, driven by major gains in industrial, banking, food/beverage and oil/gas stocks.
A total of 191.430 million shares valued at N2.181bn exchanged hands in 3,718 deals.
The NSE market capitalisation appreciated to N11.613tn from N11.550tn, as the All-Share Index closed at 33,695.83 basis points from 33,514.93 basis points.
The NSE industrial index recorded the highest gain of 2.19 per cent, followed by the NSE banking, food/beverage and oil/gas indices, which appreciated by 0.52 per cent, 0.46 per cent and 0.06 per cent, respectively.
The NSE insurance index slid by 0.25 per cent, emerging as the only index to record a decline at the close of trading.
Positive sentiments continued to dominate the Nigerian equities market, as the NSE ASI advanced by 0.54 per cent to push the year-to-date return to 25.38 per cent. There were 29 gainers and 19 losers.
Neimeth International Pharmaceutical Plc and Skye Bank Plc topped the gainers’ list, advancing by 9.52 per cent apiece, to close at N0.92 and N0.69, respectively.
Also on the gainers’ table were Lafarge Africa Plc, Dangote Flour Plc and UACN Plc, which appreciated by five per cent, 4.95 per cent and 4.89 per cent, accordingly.
However, 7-UP Bottling Company Plc, Vitafoam Nigeria Plc, AG Leventis Nigeria Plc, Berger Paints Nigeria Plc and PZ Cussons Nigeria Plc emerged as the top losers of the day, depreciating by 4.99 per cent, 4.83 per cent, four per cent, 3.78 per cent and 3.63 per cent, accordingly.
Meanwhile, Lafarge Africa Plc, FTN Cocoa Processors Plc and Transcorp Hotels Plc released their first half 2017 results with mixed performances. Transcorp Hotels recorded declines of 18.50 per cent, 60.06 per cent and 59.91 per cent in revenue, profit before tax and profit after tax, accordingly. Its gross profit for the period was N4.5bn compared to N5.77bn a year ago.
Also, FTN Cocoa recorded a 97.02 per cent decline in revenue, while the company slid further into a loss position, as the loss before tax and loss after tax closed at N286m at the end of the period.
Lafarge recorded growths of 44.22 per cent, 160.17 per cent and 165.25 per cent in revenue, PBT and PAT, respectively.
