E-Tranzact International Plc extended its recent rally on the Nigerian Exchange on Wednesday gaining another 9.76 percent to close at N15.75.
The stock advanced by N1.40 from its previous close of N14.35, placing it among the strongest-performing equities during Wednesday’s trading session.
The latest gain followed a 9.96 percent increase on Tuesday, when E-Tranzact climbed from N13.05 to N14.35.
The back-to-back advances have strengthened a recovery that began after the stock closed the week ended October 2 at N11.
E-Tranzact had declined 12 percent during that week, falling from N12.50 to N11, before reversing direction in the following week.
For the week ended October 9, the stock gained 10 percent from N11 to N12.10.
The rally has since accelerated, with E-Tranzact reaching N14.35 on Tuesday before Wednesday’s advance carried the stock to N15.75.
At its latest closing price, E-Tranzact has appreciated by N4.75 per share, or approximately 43.2 percent from N11 in less than two weeks.
The stock is also now 26 percent above the N12.50 level from which it began its 12 percent decline during the week ended October 2, highlighting the strength of the subsequent recovery.
E-Tranzact finished Wednesday as the second-highest percentage gainer among the leading stocks, behind Austin Laz & Company, which rose 10 percent to N2.42.
The advance came as the broader Nigerian equities market returned to positive territory, with the NGX All-Share Index gaining 0.06 percent to 247,673.65 points.
