AGS NEWS – Investors in the Nigeria equities market witnessed a significant gain of N420 billion on Thursday, spurred by robust performances from Dangote Sugar, Transcorp Power, MTN Nigeria, and other notable firms.

This surge propelled the market capitalization to N56.7 trillion from N56.3 trillion within a five-hour trading period today.

Similarly, the All-Share Index (ASI) climbed to 100,335.30 from 99,591.64 recorded the previous day.

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Despite this positive momentum, the market breadth remained negative, with 26 stocks advancing, 33 declining, and 59 unchanged in 9,708 deals.

MTN Nigeria and Dangote Sugar Refinery led the gainers, each experiencing a 10% increase in share price, closing at N201.30 and N50.60 respectively.

Transcorp Power, Juli, and NASCON Allied Industries also saw significant growth in their share prices, rising by 9.99%, 9.96%, and 9.92% respectively.

However, FTN Cocoa Processors and Guinness Nigeria were among the top decliners, shedding 10% off their share prices to close at N1.53 and N45.90 per share.

Transcorp, Ikeja Hotel, and Red Star Express were among the companies that recorded losses, with their share prices dropping by 9.95%, 9.93%, and 9.87% respectively.

In terms of volume traded, Transcorp took the lead, exchanging 301.363 million shares valued at N5.65 billion in 2,184 deals.

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This was followed by Sterling Financial Holding, with 33.320 million shares worth N150.7 million traded in 191 deals.

On the value index, Transcorp maintained its dominance, trading stocks worth N5.65 billion, followed by Dangote Cement and Transcorp Power, trading equities worth N4.23 billion and N3.91 billion respectively.