Ahead of the Elections which held over the weekend in the Country, investors exhibited heightened apprehension in the Nation’s capital Market which resulted in transactions characterized by Low liquidity as manifested at the end of last week’s transactions.
The All Share index dropped by 0.61% to close the week at 32,515.52 points and market capitalization at N12.126 trillion.
All other indices also finished lower with the exception of the NSE ASem, NSE Banking, NSE Insurance, NSE-AFR Bank Value and NSE Oil/Gas, which rose by 0.96 per cent , 0.68 per cent, 0.02 per cent 0.95 per cent and 0.13 per cent respectively.
Meanwhile, a turnover of 1.481 billion shares worth N17.647 billion was recorded in 20,449 deals by investors on the floor of the exchange lower than a total of 2.834 billion units valued at N28.138 billion that changed hands in 28,739 deals during the preceding week.
Transnational Corporation of Nigeria Plc (Transcorp), last week, announced its audited results for the year ended December 31, 2018, with a 94 per cent growth in Profit After Tax (PAT) of ₦20.6 billion in 2018, compared to ₦10.6 billion achieved in the corresponding period of 2017.
The group’s turnover grew by 30 per cent to ₦104.2 billion while Profit Before Tax (PBT) increased to ₦22.4 billion from ₦12.3 billion in 2017, depicting an 82 per cent year on year growth.
According to the company, the improved performance comes as a result of increased revenue generation from the power and hospitality segments of the group.
In addition, the company’s efforts to cut down on loss from Forex arising from financing activities by 30 per cent year-on-year also gave boost to its performance.
Meanwhile operators have urged government to make political positions less attractive and more of service to the nation, than a platform for becoming billionaires overnight to reduce election violence to the barest minimum.
