Seplat, Access, GTCO Stop Bear Parade in Nigerian Stock Market
Seplat, Access Holdings, and GTCO, among other risers, stopped the bear parade in the Nigerian stock market on Thursday, with more than N100 billion in capital appreciation.
The stock market closed on a positive note, as key market indicators rose by 0.06%.
The market rebounded slightly on renewed bargain hunting in some medium- and large-cap stocks, including SEPLAT, ACCESSCORP, TRANSCORP, and UBA.
The buying interest in these stocks lifted market performance despite negative market breadth. The market index, or the All-Share Index, added 155.03 basis points to close at 242,378.13.
Market capitalisation also increased by ₦100.51 billion, up 0.06%, settling at ₦157.15 trillion. Total volume of all trades and the total value of all transactions executed increased by +161.79% and +21.83%, respectively.
Stockbrokers reported that approximately 1,399.12 million units, valued at ₦27,138.25 million, were transacted in 46,218 deals.
FTGINSURE topped the volume chart, accounting for 73.74% of all shares traded in the market, followed by MBENEFIT (4.26%), ACCESSCORP (2.04%), GTCO (1.84%), and ZENITHBANK (1.02%).
ARADEL topped the value chart, accounting for 19.70% of the total value of all trades executed on NGX, thereby making it the highest traded on the exchange.
SEPLAT led the gainers chart, up by +10.00%, trailed by JAPAULGOLD (+9.83%), TANTALIZER (+8.29%), NSLTECH (+7.94%), ACCESSCORP (+5.66%), SOVRENINS (+5.00%), and seventeen others.
A total of thirty stocks depreciated. With a price depreciation of -10.00% each, RTBRSICOE and ARADEL topped the worst performers’ chart, followed by CHAMPION (-9.91%), INTBREW (-9.80%), CWG (-9.28%), THOMASWY (-7.66%), and OMATEK (-7.41%).
Hence, market breadth closed negative, with 23 gainers and 30 losers. Sectoral performance was negative today, with three of the five major market sectors declining.
The Consumer goods sector fell by -1.03%, followed by the Insurance sector (-0.42%), and the Industrial goods sector (-0.04%). The Oil & Gas sector and the Banking sector increased by +0.79% and +0.69%, respectively. Nigeria’s Foreign Reserves Top $54bn, Extend Import Cover
