NSE: Seplat Returns Bullish Sentiments to Equity Market

September 6, 2017
NSE: Seplat Returns Bullish Sentiments to Equity Market

By Modupe Gbadeyanka

Bullish sentiments were returned to the Nigerian equity market on Wednesday as a result of gains recorded by Seplat and 21 other stocks.

Business Post reports that transactions ended 0.57 percent higher today with the All-Share Index (ASI) increasing by 205.15 points to close at 35,609.07 points, while the market capitalisation grew by N70.7 billion to settle at N12.3 trillion.

In addition, the volume and value of shares traded today on the trading floor of the Nigerian Stock Exchange (NSE) finished higher than the previous day.

A total of 281 million shares were transacted in 4,066 deals on Wednesday valued at N5.4 billion versus 230 million shares traded in 4,188 deals yesterday worth N4.8 billion.

However, the market breadth closed negative with 22 advancers and 23 decliners.

The gainers were led by Seplat, which increased by 16.2k to settle at N482 per share, and Guinness Nigeria, which grew by N8.12k to close at N87.39k per share.

Furthermore, Nigerian Breweries rose by N2.50k to end at N182.60k per share, Dangote Cement advanced by N2.12k to finish at N207.12k per share, while Zenith Bank added 66k to its share value to wrap the day at N23.76k per share.

On the flip side, Mobil shed N1.50k to close at N166 per share, while PZ Cussons lost N1.36k to finish at N25.94k per share.

Lafarge fell by N1.34k to end at N52.80k per share, GTBank depreciated by 49k to settle at N38.51k per share, and UBA declined by 14k to close at N8.87k per share.

It was observed today trading in banking stocks dominated the market with GTBank exchanging 68.5 million shares worth N2.7 billion.

It was followed by Access Bank, which executed 56.7 million shares valued at N577.7 million, and FBN Holdings, which sold 32.7 million shares valued at N194.7 million.

In addition, Fidelity Bank traded 25 million shares at N32.6 million, while Sterling Bank moved 11.5 million shares valued at N11.7 million.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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