Seplat, banks boost stock market by N241bn gain

The Nigerian stock market sustained its bullish run as investors’ interest in Seplat and Tier-one banks added N241 billion or 0.42 per cent to the market capitalisation on Wednesday, September 25, 2024.

The Nigerian Exchange Limited (NGX) market capitalisation which opened at N56.641 trillion closed at N56.882 trillion.

The All-Share Index also gained 0.42 per cent or 419 points to settle at 98,987.42 points, against 98,568.59 points reported on Tuesday, September 24.

Consequently, the Year-To-Date return increased by 32.38 per cent, while market breadth closed positive with 31 gainers and 24 losers on the floor of the Exchange.

On the gainers’ chart, Flour Mill and Seplat led by 10 per cent each to close at N60.50 and N4,103.10 per share, respectively.

EllahLakes followed by 9.97 per cent to close at N4.08, Honeywell Flour gained 9.87 per cent to close at N5.01, and ABC Transport advanced by 9.57 per cent to close at N1.26 per share.

Stock market investors record N79bn gain

Conversely, Multiverse led the losers’ chart by 9.90 per cent to close at N9.10, while Caverton trailed by 9.86 per cent to close at N3.29 per share.

Axa Mansard dropped 6.78 per cent to close at N5.50, FBN Holdings declined by 6.45 per cent to close at N29, while Fidelity Bank shed 6.40 per cent to close at N15.35 per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 6.75 per cent.

A total of 603.31 million shares valued at N12.58 billion were exchanged in 9,723 deals, compared with 763 million shares valued at N11.78 billion traded in 12,081 deals posted previously.

On the activity chart, Fidelity Bank led in volume with 121.73 million traded shares, while FBN Holdings led in value, with deals worth N3.46 billion.

The Star