Transcorp Corporation and Guaranty Trust Holding Company (GTCO), on Wednesday, March 13, 2024, increased the Nigerian equity market by 0.47 per cent as the largest stocks in volume and value.
Transcorp led the volume chart with 38.95 million shares traded, despite a decline of 2.94 per cent in its share price, which opened at N17.00 and closed at N16.50.
GTCO led the value chart with deals worth N1.17 billion, having opened at N43.00 to close at N44.50 per share, indicating an increase of 3.26 per cent.
Analysis of the market activities showed that the value of transactions went down by 35.93 per cent.
Meanwhile, 326.95 million shares valued at N9.12 billion were exchanged in 9,570 deals on the trading floor, as against 565.79 million shares valued at N14.23 billion exchanged in 11,519 deals on Tuesday.
Sustained interest in MTN Nigeria, Transcorp, GTCO, Julius Berger, and NEM Insurance, among other top traders pulled the market up.
GTCO, Zenith Bank, Transcorp Power raise stock market by N404bn
The all-share index also went up by 0.47 per cent or 483 points to close at 104,007.36 points, compared to 103,524.44 recorded on Tuesday.
Investors gained N273 billion or 0.47 per cent, as the market capitalisation, which opened at N58.533 trillion, closed at N58.806 trillion.
As a result, the Year-To-Date (YTD) return rose to 39.10 per cent.
Transcorp led in volume with 38.99 million shares valued at N642.23 million.
Unity Bank followed with 37.20 million shares worth N69.83 million.
GTCO traded 26.44 million shares valued at N1.17 billion, while the United Bank for Africa (UBA) sold 21.29 million shares amounting to N565.24 million
FBN Holdings transacted 18.62 million shares worth N625.69 million.
Meanwhile, market breadth closed positive with 32 gainers and 23 losers.
On the gainer’s log, Julius Berger and Ecobank Transnational Incorporated (ETI) led in percentage terms of 10 each to close at N67.10 and N22.00 per share, respectively.
NEM Insurance gained 9.92 per cent to close at N6.65, RT Briscoe rose by 8.89 per cent to close at 49k, while Omatek Venture went up 8.70 per cent to close at 75k per share.
On the losers’ side, SkyWay Aviation Handling Company led in percentage terms of 10 to close at N22.95, while SUNU Assurances trailed by 9.62 per cent to close at N1.41 per share.
May & Baker Nigeria also shed 9.62 per cent to close at N1.41, LASACO Assurance lost 5.66 per cent to close at N2, and JapaulGold dropped 4.35 per cent to close at N2.20 per share.
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