Interest in Seplat Energy, Others Lift Stock Market by N238.37bn
Kayode Tokede Amid high demand for Seplat Energy Plc and 20 others, the market capitalization of listed companies on the Nigerian Exchange Limited (NGX), yesterday gained N238.37 billion to sustain
The Nigerian stock market experienced a surge, gaining N238.37 billion in market capitalization as high demand for Seplat Energy Plc and 20 other listed companies boosted positive momentum. Seplat Energy's stock price rose by 10 percent, closing the trading day at N13,552.60 per share, while Learn Africa and Regency Alliance Insurance also saw significant gains of 9.49 percent and 4.76 percent respectively.
Conversely, RT Briscoe and Critical Minerals Financing Corporation led the decliners with declines of 10 percent and 9.86 percent respectively. The NGX ASI index climbed by 0.15 percent, closing at 246,388.22 basis points, while the NGX Industrial Goods index remained flat. Investor sentiment remained cautious, with 33 stocks declining compared to 21 advancers.
Overall, the market closed higher for the month-to-date and year-to-date, with total volume traded increasing by 1.68 percent to 434.024 million units valued at N29.3 billion.
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