Market cap appreciates by N143bn over surge in investors interest in Seplat, 33 others

The stock market of the Nigerian Exchange Limited (NGX) on Thursday sustained the uptrend as gains in Seplat Energy Plc and 33 others bolstered performance on the local bourse by 0.55 per cent.

Precisely, the All-Share Index inched higher by 266.01 absolute points, representing an increase of 0.55 per cent  to close at 48,837.76 points. While the overall market capitalisation value gained N143 billion to close at N26.329 trillion.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are Seplat Energy, Guinness Nigeria, MTN Nigeria Communications (MTNN), Chemical Allied Products (CAP) and Cadbury Nigeria.

GTI Securities Limited said: “The market closed positively, as investors increased buying interest in all the sectors to continue the markets’ bullish trend. We expect positive sentiments to persist, as investors take positions, as companies’ Q1 2022 financial result rolls out.”

Market sentiment, as measured by market breadth was positive as 34 stocks gained, relative to 17 losers.  Cadbury Nigeria and Multiverse Mining and Exploration recorded the highest price gain of 10 per cent each to close at N9.35 and 22 kobo respectively, while Trans-Nationwide Express followed with a gain of 9.88 per cent to close at 89 kobo, per share.

CAP rose by 9.77 per cent to close at N21.90,  while Seplat Energy  appreciated by 9.09 per cent to close at N1,200 per share.

On the other hand, Champion Breweries led the losers’ chart by 6.88 per cent to close at N2.30, per share. FTN Cocoa Processors followed with a decline of 5.13 per cent to close at 37 kobo, while Linkage Assurance depreciated by 3.92 per cent  to close at 49 kobo per share.

Courteville Business Solutions declined by 3.77 per cent to close at 51 kobo, while Fidelity Bank depreciated by 3.47 per cent to close at N3.62, per share.

Meanwhile, the total volume of trades rose by 207.9 per cent to 759.648 million units, valued at N5.536 billion, and exchanged in 5,032 deals. Transactions in the shares of FCMB Group topped the activity chart with 50.398 million shares valued at N1.764 billion. Transnational Corporation of Nigeria (Transcorp) followed with 36.177 million shares worth N41.852 million, while Honeywell Flour Mills traded 25.066 million shares valued at N92.816 million.

FBN Holdings (FBNH) traded 16.958 million shares valued at N201.813 million, while AIICO Insurance transacted 16.604 million shares worth N12.522 million.