Stock Investors Gain N3.258 Trillion Following Transcorp Power Listing Last Week

Following the listing of Transcorp Power Plc (Transpower) on the Nigerian Exchange Limited (NGX) last week, stock investors gained a combined N3.258 trillion.

Transpower listed 7.5 billion shares at N240 on March 4th, 2024 to add N1.8 trillion to the market capitalisation of the NGX. Since listing last week, Transpower has gained 46.375% from N240 on Monday to N351.3 a share on Friday.

During the week, NGX investors transacted 2.157 billion shares worth N108.824 billion in 51,556 deals, in contrast to a total of 1.882 billion shares valued at N34.149 billion that exchanged hands in 48,464 deals in the previous week.

The Financial Services Industry led the activity chart with 899.483 million shares valued at N15.778 billion traded in 20,278 deals. Therefore, contributing 41.70% and 14.50% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 736.973 million shares worth N12.902 billion in 4,996 deals.

In third place was the Utilities Industry, with a turnover of 208.511 million shares worth N65.746 billion in 5,602 deals.

Transnational Corporation Plc, Transcorp Power Plc and United Bank for Africa Plc were the most traded equities during the week and accounted for a combined 1.056 billion shares worth N78.770 billion in 12,167 deals.

The three contributed 48.97% and 72.38% to the total equity turnover volume and value respectively.

The NGX All-Share Index appreciated by 2.61% to 101,330.85 index points while Market Capitalization appreciated by 6.03% or N3.258 trillion to N57.293 trillion.

Similarly, all other indices finished higher with the exception of NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX MERI Growth, NGX MERI Value, NGX Consumer Goods and NGX Sovereign Bond which depreciated by 1.40%, 5.22%, 3.39%, 1.80%, 1.86%, 1.21%, and 3.06% respectively.

Twenty-two equities appreciated in price during the week lower than twenty-seven equities in the previous week. Fifty-six equities depreciated in price higher than fifty-four in the previous week, while seventy-six equities remained unchanged, higher than seventy-two recorded in the previous week.