Seplat Energy Gains N400/share in Fresh Rally
Investors raised heavy bets on Seplat Energy Plc shares in the equities segment of the Nigerian Exchange (NGX) as setiment improved The strong buying interest from value hunters and alpha seekers pushed the market price of the energy stock higher by N400 per share.
According to details obtained from the Nigerian Exchange, Seplat Energy share price closed at N5,700, up by 7.55% from N5300 in the previous trading session
The strong rally was informed by pure sentiment amidst uncertainties in the global commodities market. The oil-backed stock had peaked at N5,738.12 in the equities market in the last 52 weeks.
The pricey oil/energy stock is among the less volatile entities listed on the local bourse. But when they swing, the market often feels their movement—positively or negatively.
Trading data from the local bourse showed that Seplat led the value chart with trades worth N8.03 billion. The transaction conducted on the company accounted for 40.30% of total value traded on NGX. The market now values Seplat Energy Plc for N3.354 trillion on its 588.444 million outstanding shares. NGX Rallies Intraday as Investors Take Positions in Access, FBNH
