Seplat, Big-5 Banking Stocks Gains Halt Losing Streaks on NGX
Seplat and some of the Big-5 Banks stocks stemmed losing streaks on the Nigerian Exchange (NGX) Friday after three consecutive reddish trading sessions.
Consequently, the local bourse closed the week positive as the index rose by 0.21% to close at 39,198.75 points amid renewed bargain hunting activity.
Also, year to date loss moderated to 2.66% as the Nigerian Exchange recorded more gainers (25) than losers (17) at the close of trading session.
SEPLAT, GUARANTY, ACCESS and ZENITHBANK stocks increased by 2.58%, 0.86%, 0.62% and 1.14% respectively.
Cowry Asset Limited said of the five indices tracked by the investment firm, three closed in green zone – the NSE Banking, NSE Consumer Goods and the NSE Oil/Gas indices rose by 1.11%, 0.05% and 2.00% respectively.
However, the NSE Insurance and the NSE Industrial indices moderated by 1.07% and 0.12% respectively.
Despite today’s gain, analysts said trading activity was weak as total volume and value of stocks traded fell by 33.06% and 33.23% to 0.23 billion units and N2.9 billion respectively.
For Seplat, analysts at Chapel Hill Denham said they do not rule out the positive impact of higher oil prices as the key driver of investors’ interest in the stock.
On today’s price list, LINKASSURE (9.52% to N0.69), JOHNHOLT (+9.26% to N0.59%), and UBN (+9.09% to N5.40) were today’s top gaining stocks.
On the flip side, NEM (-9.50% to N1.81), COURTVILLE (-9.09% to N0.20), and SUNUASSUR (-8.47% to N0.54) were today’s top losers.
Today’s most traded stocks by volume which did ACCESS at 40.47 million units, FBNH 33.55 million units and ZENITHBANK 25.51 million units.
On the other hand, the top traded stocks by value were ZENITHBANK (N0.562 billion), GUARANTY (N0.348 billion), and ACCESS (N0.328 billion).
Elsewhere, the Chapel Hill Denham’s Paramount Equity Fund (PEF) and the Women Investment Fund (WIF) rose by 2bps and 32bps, respectively.
Seplat Plc.’s Earnings Bounced Back Strongly on Higher Oil Prices
Seplat, Big-5 Banking Stocks Gains Stem Losing Streaks on NGX
