Transactions at the nation’s equity market Thursday continued in positive trend, increasing by N45 billion.
Specifically, market capitalisation of listed equities appreciated by 0.40 per cent to N11.404 trillion from N11.359 trillion reported the previous day.
Also, the NSE All Share Index increased by 122.53 basis points to 30583.21 points from 30460.68 points traded on Wednesday.
Investors exchanged 231.014 million shares worth N3.260 billion in 3207 deals against 305.808 million shares valued at N2.102 billion reported the previous day.
Capital market operators said investors renewed interest in the market as election draw closer is technical, stressing that low prices of equities attracted investment ahead of the full year earnings of companies.
They stated that the rebound is still weak, adding that the state of the market would be noticed after presidential and National Assembly election.
A review of investment for the day indicated that Mobil led gainers table, growing by N4.00 to N188.00, Dangote Cement followed with a gain of N2.00 to close at N190.00, Cement Company of Northern Nigeria went up by N1.00 to close at N23.00, PZ Industries added N0.85 kobo to close at N11.85 kobo and Nigerian Breweries enhanced by N0.75 kobo to close at N78.75 kobo.
On the contrary, Nascon topped losers chart, during the day depreciating by N0.60 kobo to close at N18.00, Stanbic IBTC trailed with a loss of N0.50 kobo to close at N47.00, Etranzact down by N0.39 kobo to close at N3.56 kobo, Zenith Bank Plc fell by N0.25 kobo to close at N21.70 kobo while Guaranty Trust Bank dropped by N0.20 kobo to close at N32.40 kobo.
Further analysis showed that Diamond Bank Plc was the most active stock during the day, trading 59.564 million shares worth N125.133 million, Guaranty Trust Bank followed with account of 45.587 million shares valued at N1.480 billion, Zenith Bank traded 19.831 million shares cost N427.571 million, Access Bank Plc sold 19.477 million shares worth N112.120 million while FBNHoldings traded 10.806 million shares cost N79.407 million.
………………………………………..
National grid frequency control rises to 50.25Hz
The national grid has achieved frequency control between 49.80Hz and 50.25Hz consistently for 17 days, the Transmission Company of Nigeria (TCN), has said.
The development, which occurred between December 27, 2018 and January, 2019, TCN claimed was the best ever achieved in the history of Nigeria and West Africa.
TCN in a statement issued by its General Manager (Public Affairs), Mrs. Ndidi Mbah, put the percentage for the frequent control of the national grid at 85.55 per cent.
“Transmission Company of Nigeria wishes to announce that the National Grid has achieved frequency control of between 49.80Hz and 50.20Hz for64.47% of the time and frequency control between 49.75Hz and 50.25Hz for 85.55% between December 27, 2018 and January 12, 2019.
“The frequency control is the best ever achieved in the history of Nigeria and is also the best in West Africa as at today. The frequency control achieved from January 8-12, 2019, is the best so far by any power utility in West Africa.
“The Management of TCN decided to further stabilize the frequency after the Workshop on frequency control organised by the West African Power Pool in Nigeria from December 17-19, 2018.
“The Nigerian Grid Code Frequency Standard is 49.75Hz and 50.25Hz while the WAPP Frequency standard is 49.80Hz and 50.20Hz. Currently West African Power Pool operates three islands due to poor frequency control’’, the statement said.
In a related development, the meeting of the Heads of States and Government of ECOWAS has approved the WAPP 2018 Transmission and Generation Master Plan.
The WAPP 2018 Master Plan is expected to provide 330kV line from Nigeria to Senegal and will enable Grid connection between WAPP and Central Africa Power Pool on the one hand and North Africa Power Pool on the other hand
The WAPP 2018 Master Plan includes, the Eastern Transmission Backbone which will put in place 330kV Double Circuit transmission lines and substations from Calabar-Ikom-Ogoja-Kashimbila-Jalingo-Yola-Hong-Biu-Damaturu-Potiskum-Azare-Dutse and terminate in Jogana (Kano).
Ends
