Transcorp Hotels rejoins N1 trillion market cap club

Transcorp Hotel has rejoined the N1 trillion market capitalization club, also known as the SWOOTs.  

Stocks Worth Over One Trillion Market Cap is an acronym for the most capitalized stock on the Nigerian Exchange. 

Transcorp Hotel gained 9.33% on June 24 to close with a share price of N98.40 per share, bringing its market capitalization to N1.01 trillion.

 

 

Market report

The stock market started the week off on a bearish note, as the All-Share Index declined by 0.44% to close at 99,304.12 points, representing 438.93 points from last Friday’s 99,743.05 points.  

The NGX market cap also declined by N248.3 billion, as the market cap closed at N56.175 trillion, down from N56.424 trillion during the previous trading session.

The decline in the market was driven by the negative market breadth, as there were 27 losers in contrast with 20 gainers.  

Among the losers, International Breweries recorded the highest decline with 10%, as the stock fell to its lowest share price since it announced its rights issue.  

Transcorp Hotel’s SWOOT journey 

Transcorp Hotel surpassed the N1 trillion market cap level for the first time in January 2024. However, its market cap dropped below N1 trillion in March, with its share price falling to N97.90 on March 15.  

In May 2024, the stock dropped further as it recorded a 1.77% decline in May 2024 before its latest resurgence that has taken it back to the one trillion club. 

This year, Transcorp Hotel has been one of the best performing stocks in the NGX, with a 40.2% gain year-to-date. Year-on-year, the stock has gained 639%.  

There are now 11 stocks in the NGX, with a market cap surpassing the N1 trillion mark. They include Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, MTN Nigeria, GTCO Holdings, Seplat Energy, Transcorp Hotel, Zenith Bank, and Transcorp Power.  

More Market highlights

In terms of market activity, there was a 58% increase in turnover volume, as 973.623 million shares were traded today, in contrast with 617.223 million shares traded on June 21.

The turnover volume was linked to the 627,604,418 FBN Holdings shares traded during the day.  

There was a 70% appreciation in turnover value, as shares worth N19.3 billion were traded, in contrast with N11.3 billion from the previous trading day.  

The gainers in the market were led by Secure Electronic Technology which gained 10%, followed by VFD Group which gained 9.85%, John Holt gained 9.58%, Thomas Wyatt gained 9.52%, Transcorp Hotel gained 9.33%, and Sovereign Trust Insurance gained 8.89%. 

International Breweries led the losers with a 10% decline, followed by Deap Capital with an 8.93% decline, Daar Communications with 8.77%, Beta Glass with 8.62% decline, Oando Plc with 7.36%, and Unity Bank with 6.25% decline. 

The top traded stock was FBN Holdings, followed by Beta Glass Plc with 35.698 million shares, and Veritas Kapital Assurance with 35.343 million shares. Chams Holding Company recorded a turnover volume of 26.152 million shares, and AIICO Insurance with 24.299 million shares.