Stock Market Rebounds, Gains N100.5bn on Demand for Seplat
Kayode Tokede The Nigerian stock market, yesterday staged a rebound with volume rising by 161.79 per cent to 1.4 billion shares as market capitalisation closed higher by N100.5 billion amid
The Nigerian stock market experienced a rebound on Monday, with trading volume surging by 161.79 percent to 1.4 billion shares. Market capitalisation rose by N100.5 billion to close at N157.150 trillion. Seplat Energy Plc was the standout performer, with its stock price surging by 10 percent to close at N14,907.80 per share. Other stocks that gained significantly included Japaul Gold & Ventures (+9.83 percent), Tantalizer (+8.29 percent), Secure Electronic Technology (+7.94 percent), and Access Holdings (+5.66 percent).
In contrast, R.T. Briscoe and Aradel Holdings were among the biggest losers, each declining by 10 percent to close at N8.10 and N1,413.00 respectively. The All-Share Index (NGX ASI) also rose by 155.03 basis points or 0.06 percent to close at 242,378.13 basis points. Market sentiment was generally negative, with 23 stocks gaining while 29 stocks lost.
The Industrial Goods index stayed flat, while the Oil & Gas and Banking indices showed modest gains of +0.8 percent and +0.7 percent respectively.
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Also reported by 1 other outlet
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