Stock market maintains upward trajectory as investors buy Transcorp entities

Nigeria’s equities market rose by 0.40 percent on Wednesday, maintaining its steady upward trajectory.

The market’s new high was largely supported by gains in Transcorp entities – like newly listed Transcorp Power Plc and its parent company Transnational Corporation Plc.

Following the positive close, analysts anticipate similar trading session on Thursday. The market’s year-to-date (YtD) return stood higher at 33.19 percent.

Transcorp Power led the league of top advancers on Wednesday after its share price rose from N290.40 to N319.40, adding N29 or 9.99 percent.

Transcorp Power shares rise 33% in three days after listing

By Iheanyi Nwachukwu • March 7, 2024

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.