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Investors demand for Seplat 27 others lift market cap by N14bn

Investors surge demand for Seplat Energy Plc, 27 others lifted market capitalisation of the Nigerian Exchange Limited by N14billion yesterday to maintained its bullish momentum for this week.

Precisely, the overall market capitalisation value gained N14 billion to close at N26.184 trillion from N26.170trillion, as the NGX  All-Share Index inched higher by 25.21 basis points or 0.05 per cent  to close at 48,568.57 points  from 48,543.36 basis points it opened for trading.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Seplat Energy, Nigerian Breweries, Presco, UAC of Nigeria (UACN) and Flour Mills of Nigeria.

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As measured by market breadth, market sentiment remained positive as 28 stocks gained relative to 23 losers. Academy Press recorded the highest price gain of 10 per cent to close at N1.21, per share. Champion Breweries followed with a gain 9.78 per cent to close at N2.47, while MEYER Plc gained 9.77 per cent to close at N2.81, per share.

Neimeth International Pharmaceuticals  rose by 9.56 per cent to close at N1.49, while eTranzact International appreciated by 9.43 per cent to close at N2.90, per share. On the other hand, Multiverse Mining and Exploration led the losers’ chart by 8.70 per cent to close at 21 kobo, per share. International Breweries  followed with a decline of 8.04 per cent to close at N5.15, while Cadbury Nigeria  declined by 7.74 per cent to close at N7.75, per share.

Japaul Gold and Ventures shed 6.25 per cent to close at 30 kobo, while Honeywell Flour Mills dipped by 4.88 per cent to close at N3.70, per share.

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The total volume of trades increased by 17.3 per cent to 464.733 million units, valued at N7.010 billion, and exchanged in 6,468 deals. Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 123.820 million shares valued at N144.565 million. AIICO Insurance followed with 20.507 million shares worth N14.050 million, while Zenith Bank   traded 19.445 million shares valued at N493.416 million.

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FBN Holdings (FBNH) traded 18.453 million shares valued at N220.754 million, while Fidelity Bank transacted 18.148 million shares worth N69.054 million.

On market performance, analysts at Afrinvest Limited said “In the next trading session, we anticipate a mild bearish tilt to be driven by profit taking activities.”


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