Fri. Nov 22nd, 2024
Transcorp shares

By Dipo Olowookere

Last week, the equities of Transcorp Plc appreciated by 314.03 per cent on the floor of the Nigerian Exchange (NGX) Limited to N45.75 from the N11.05 it closed in the preceding trading week.

This happened after the conglomerate undertook a share reconstruction from 40,647,990,293 units of ordinary shares to 10,161,997,574 units of ordinary shares.

The company topped the price gainers’ chart in the five-day trading week, followed by Eunisell Interlinked, which gained 60.57 per cent to quote at N5.62.

John Holt improved its share price by 20.00 per cent to N3.30, University Press jumped by 18.28 per cent to N3.30, and Livestock Feeds grew by 12.32 per cent to N3.83.

Conversely, Aradel Holdings led the losers’ log after it depreciated by 25.75 per cent to N445.60, Caverton declined by 20;00 per cent to N2.00, Ellah Lakes fell by 12.59 per cent to N3.54, Regency Assurance dropped 12.50 per cent to 49 Kobo, and Royal Exchange waned by 11.27 per cent to 63 Kobo.

Data showed that 39 equities appreciated during the week versus 58 equities in the previous week, 45 stocks depreciated versus 18 stocks a week earlier, 68 shares closed flat versus 76 shares of the preceding week.

Business Post reports that Customs Street was depressed last week as it did not record a single growth in any of the trading days.

In the week, the All-Share Index (ASI) and the market capitalisation depreciated by 2.03 per cent to close at 97,432.02 points and N59.039 trillion, respectively.

Similarly, all other indices finished lower except the banking, AFR Bank Value, AFR Div Yield, MERI Growth, MERI Value, energy, and the growth indices, which gained 0.19 per cent, 1.76 per cent, 1.52 per cent, 0.16 per cent, 0.48 per cent, 1.15 per cent, and 0.07 per cent, respectively while the ASeM index closed flat.

A total of 2.717 billion shares worth N54.632 billion exchanged hands in 46,848 deals last week compared with the 2.142 billion shares valued at N85.946 billion traded in 41,217 deals a week earlier.

Financial equities led the activity chart with 1.821 billion units worth N28.958 billion in 20,173 deals, contributing 67.01 per cent and 53.01 per cent to the total trading volume and value, respectively.

ICT shares transacted 389.848 million units for N6.560 billion in 2,515 deals and conglomerates stocks exchanged 160.993 million units valued at N4.746 billion in 3,623 deals.

Fidelity Bank, Chams, and UBA traded 1.225 billion shares worth N17.721 billion in 4,912 deals, contributing 45.10 per cent and 32.44 per cent to the total trading volume and value, respectively.

By Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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