Transcorp Power Jumps 9.97% to N203 as Stock Crosses N200Transcorp Power Jumps 9.97% to N203 as Stock Crosses N200
Transcorp Power Plc jumped 9.97% on the Nigerian Exchange (NGX) on Wednesday to close above N200 per share as investors pushed the power company’s stock to the top of the gainers’ table.
The stock gained N18.40 to settle at N203 on November 4, up from its previous closing price of N184.60.
The near-10% increase made Transcorp Power the best-performing equity during the trading session and pushed the stock beyond the N200 mark.
At N203 per share, investors were willing to pay N18.40 more for the company’s shares than at the previous close, representing one of the strongest single-session movements recorded across the equities market on Wednesday.
Transcorp Power’s rally came as the broader Nigerian equities market closed marginally higher, with the NGX All-Share Index advancing by 0.19% to 254,762.81 from 254,289.35 in the previous session.
Equities market capitalisation also increased by approximately N307.41 billion to N165.42 trillion.
Caverton Offshore Support Group followed Transcorp Power on the gainers’ table, rebounding 9.84% from N3.05 to N3.35, while eTranzact International appreciated by 9.68% to N17.
Haldane McCall gained 7.36% to close at N3.50, while International Energy Insurance advanced 7.27% to N1.77.
The positive performance among the leading gainers contrasted with sharp declines in several stocks. Eterna led the losers after dropping 9.94% to N38.50, followed by Sovereign Trust Insurance, which declined 9.91% to N1.91.
Trading activity across the NGX improved significantly during the session, with investors exchanging 552.31 million shares valued at N37.46 billion across 33,047 deals.
Trading value increased by 65.7% from N22.61 billion in the previous session, while volume rose by 5.1% from 525.44 million shares.
Transcorp Power’s move above N200 nevertheless stood out in a session where the broader market recorded only a modest gain, with the stock’s 9.97% appreciation significantly outperforming the 0.19% increase in the benchmark index.
