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Seplat, BUA Cement, MTNN, others push Nigeria stock market higher

Foreign investors interest in Nigeria stocks seen rise in Q1

The end-of-month rebound in Nigeria’s equities did not fade on Tuesday September 29 as investors continued their bargain activities favouring value counters hitherto trading at their record lows.

Top on the list of stocks that helped the market close in green are Seplat Plc, BUA Cement Plc, MTNN Plc, Dangote Sugar Refinery Plc and Zenith Bank Plc.

At the close of trading session, the Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0. 39percent to 26,611.96 points from preceding trading day’s low of 26,507.84 points.

Investors gained N54billion at the close of the remote trading session on the Nigerian Stock Exchange (NSE).

Read also: NSE lifts suspension placed on trading in shares of R.T. Briscoe

This month alone, the stock market of Africa’s largest economy has yielded positive return of about +5.07percent; while this week it has advanced by 1.11percent.

Seplat led the league of gainers after its share price increased from N398 to N400, adding N2 or 0.50percent. Also, BUA Cement share price rose from N40.4 to N41.75, up by N1.35 or 3.34percent.

MTNN advanced from N126.5 per share to N127.5, adding N1 or 0.79percent. Dangote Sugar Refinery moved up from N12.3 to N12.5, up by 20kobo or 1.63percent; while Zenith Bank rose from N17.3 to N17.5, adding 20kobo or 1.16percent.

Likewise, the value of listed stock increased to N13.907trillion, from N13.853trillion recorded the preceding trading. The market’s negative return year-to-date (YtD) decreased to -0.86percent.

Zenith Bank Plc, Sterling Bank Plc, UBA Plc, FBNHoldings Plc and FCMB Group Plc were actively traded stocks on the Bourse. In 4,681 deals, investors exchanged 413,103,507 units valued at N 4.527billion.