Nigerian Exchange Climbs on Seplat, Dangote, FCMB Rally
The Nigerian Exchange (NGX) All-share index (ASI) jumped by 15 basis points as Seplat Energy, FCMB, and Dangote Sugar Refinery attracted buying interest from investors.
The market closed trading on a positive note, with a 0.15% jump in key market performance indicators on Thursday, reflecting renewed bargain hunting in select mid-cap and blue-chip stocks.
Oil & Gas sector drove the momentum, up by 2.22%. Gainers were SEPLAT, DANGSUGAR, FCMB, among others, across major market sectors.
Consequently, the market index (All-Share Index) added 369.05 basis points to close at 246,388.22. Likewise, market capitalisation rose ₦238.37 billion, representing a growth of 0.15%, settling at ₦159.15 trillion.
Total volume of all trades and their total value traded increased by +1.68% and +3.03%, respectively. Stockbrokers reported that approximately 434.02 million units valued at ₦29,299.96 million were transacted across 42,303 deals.
UBA topped volume drivers, accounting for 26.14% of all units transacted, followed by GTCO (7.91%), ACCESSCORP (5.74%), SOVRENINS (4.90%), and WAPIC with 4.75%.
The Pan African lender UBA topped the value chart, accounting for 17.87% of the total value of all trades, thereby making it the highest traded on the exchange.
SEPLAT led the gainers chart, up by +10.00%, trailed by LEARNAFRCA (+9.49%), REGALINS (+4.76%), JAIZBANK (+4.22%), WAPIC (+4.18%), UPDC (+2.82%), and fifteen others.
A total of thirty-three stocks depreciated.
With a price depreciation of -10.00%, RTBRISCOE topped the worst performers’ chart, followed by CMFC (-9.86%), SOVRENINS (-9.73%), ABBEYBANK (-9.68%), DAARCOMM (-8.28%), and NASCON (-8.03%).
Hence, the market breadth closed negatively, with 21 gainers and 33 losers. Sectoral performance was negative today as four of the five major market sectors declined.
The Insurance sector fell by 2.00%, followed by the Banking sector (-0.27%), the Consumer goods sector (-0.18%), and the Industrial goods sector (-0.001%). Only the Oil & Gas sector increased by +2.22%. Insurance Stocks Drive NGX Trading Volume, Turnover Drops
