The transport company’s shares climbed from N5.10 at the beginning of the week to N7.40 at the close of trading, representing an increase of N2.30 per share and placing ABC Transport at the top of the NGX weekly gainers’ chart.
The weekly performance extended a rally that had already gathered momentum toward the end of September with ABC Transport repeatedly appearing among the market’s leading gainers.
The stock had closed at N5.10 on September 25 after gaining 9.68 percent during that session. It subsequently advanced 9.80 percent to N5.60 on September 28 and another 9.82 percent to N6.15 on September 29.
The rally continued during the week covered by the latest NGX report, eventually taking ABC Transport to N7.40 and producing a 45.10 percent weekly return based on the exchange’s official opening and closing prices.
The magnitude of the rally meant an investor holding ABC Transport shares worth N1 million at the week’s opening price would have seen the market value of the position rise to approximately N1.45 million, excluding transaction costs.
ABC Transport’s performance was substantially ahead of the broader equities market, which declined during the same period.
The NGX All-Share Index fell 0.52 percent, or 1,305.14 points, from 252,113.41 to 250,808.27 points, while equity market capitalisation declined 0.50 percent to N162.843 trillion.
The divergence underscores the concentration of buying interest in selected equities even as the broader market struggled for direction.
Critical Minerals Financing Corporation ranked behind ABC Transport with a 37.73 percent weekly gain, rising from N3.26 to N4.49, while LivingTrust Mortgage Bank appreciated 32.69 percent from N2.60 to N3.45.
VFD Group advanced 18.42 percent to N13.50, while CWG gained 15.28 percent to N20.75. Pasted markdown
ABC Transport’s 45.10 percent surge, however, left it comfortably ahead of every other equity on the NGX gainers’ table for the week.
