Seplat, Conoil, others drive stock market’s positive start to new month

Nigeria’s equities market opened month of February on a positive note (+1.04percent or N262billion), pushing higher this year’s positive return to +10.29percent.

Stocks that helped the market’s positive start to a new month include Seplat Energy Plc, Conoil Plc, Academy Press Plc, RT Briscoe Plc and Presco Plc.

At the close of trading session on Tuesday, February 1, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from 46,624.67 points to 47,111.21 points while the value of listed stocks on the Nigerian Bourse increased from N25.124trillion to N25.386trillion, rising by about N262billion.

Seplat led the advancers after its share price moved up from N790 to N869, up by N79 or 10percent. Conoil followed after rallying from N21.95 to N24.10, up by N2.15 or 9.79percent.

Academy Press increased from 94kobo to N1.03, adding 9kobo or 9.57percent; RT Briscoe moved up from 22kobo to 24, up by 2kobo or 9.09percent, while Presco rose from N96.55 to N105, adding N8.45 or 8.75percent.

Transcorp, Fidelity Bank, Access Bank, GTCO and NGX Group were most traded stocks on the Bourse. In 6,417 deals, investors exchanged 341,516,320 units valued at N3.692billion.

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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