Market hits new high as Seplat, Cadbury, others gain

Foreign investors find escape route from Nigeria in dual-listed stocks

Nigeria’s equities market continued its northward movement on Thursday as investors bought shares of Seplat Energy, CAP, Cadbury and others.

Seplat shares rose most by 9.09percent or N100, from N1,100 to N1,200, followed by CAP which moved up from N19.95 to N21.90, adding N1.95 or 9.77percent; and Cadbury which moved from day-open low of N8.50 to N9.35, adding 85kobo or 10percent.

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The market increased by 0.55 percent or N143billion. The market’s positive return year-to-date (YtD) increased to 14.33percent.

At the close of trading session on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from 48,571.75 points and N26.185trillion respectively to 48,837.76 points and N26.328trillion.

In 5,032 deals, investors exchanged 759,648,190 shares valued at N5.536billion. FCMB, Transcorp, Honeywell, Flour Mills Nigeria Plc and AIICO were actively traded stocks on the Bourse on Thursday

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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