Seplat Lifts Nigerian Equities as Bulls Reclaim Stock Market

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) closed on Wednesday on a positive note, reversing the previous days’ first loss in 10 days.

The stock market’s bullish closure today was influenced by performance of Seplat and 25 other equities.

At the end of transactions on the floor of the NSE, the Nigerian stocks improved by 1.51 percent, while the market breadth finish flat.

The All-Share Index (ASI) closed 486.34 points higher than yesterday’s figure to settle at 32,686.72 points, while the market capitalisation added N168 billion to finish at N11.3 trillion, and the Year-To-Date (YTD) Return ended at 21.63 percent.

Seplat increased by N18.37k to close at N385.87k per share, while Dangote Cement advanced by N9.47k to finish at N208.97k per share.

Furthermore, Total chalked up N5.1k to settle at N275.1k per share, Forte Oil raked N4.90k to close at N52.92k per share and International Breweries garnered N2.46k to finish at N26.53k per share.

On the other end, Mobil shed N1.56k to end at N287 per share, while Nestle weakened by N1 to close at N964 per share.

Nigerian Breweries waned by 99k to close at N155.1k per share, First Bank depleted by 65k to finish at N6.40k per share, and Union Bank fell by 30k to end at N5.78k per share.

Business Post correspondent reports that at the close of trading activities at the stock market on Wednesday, investors transacted a total of 499 million shares valued at N4.1 billion, which were carried out in 6,424 deals.