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Seplat, 33 stocks lead stock market’s N143 billion gain

By Helen Oji
29 April 2022   |   12:05 pm
The Nigerian Exchange Limited (NGX), yesterday, sustained the bullish trading as gain in Seplat Energy and 33 stocks lifted capitalisation by N143 billion.

The Nigerian Exchange Limited (NGX), yesterday, sustained the bullish trading as gain in Seplat Energy and 33 stocks lifted capitalisation by N143 billion.

Precisely, the all-share index (ASI) increased by 266.01 absolute points, representing an increase of 0.6 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, Chemical Allied Products and Cadbury Nigeria.

Reacting to market performance, 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.”

Vetiva Dealing and Brokerage said: “Positive sentiments continue to fuel the market’s bullish run amid impressive Q2 numbers from companies that have already released their financial results. We expect corporate disclosures to dictate the market direction in the short-term as investors take a position in anticipation of other Q2 results.”

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

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

On the other hand, Champion Breweries led the losers’ chart by 6.88 per cent to close at N2.30 kobo. 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.

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 kobo.

Meanwhile, the total volume of trades rose by 207.9 per cent to 759.6 million units, valued at N5.5 billion, and exchanged in 5,032 deals. Transactions in the shares of FCMB Group topped the activity chart with 50.4 million shares valued at N1.8 billion.

Transnational Corporation of Nigeria (Transcorp) followed with 36.2 million shares worth N41.9 million, while Honeywell Flour Mills traded 25.1million shares valued at N92.816 million.

FBN Holdings (FBNH) traded 16.9 million shares valued at N201.8 million while AIICO Insurance transacted 16.6 million shares worth N12.5 million.