Seplat, others push NGX-ASI higher by 0.57%

MTNN, other stocks drive market’s negative start to new week

Nigeria’s stock market rally continued on Thursday as Seplat Energy Plc led other major advancers that pushed the market higher.

Seplat Energy rallied from preceding day’s low of N2 795.10 to N3,074.60, rising by N279.50 or 10 percent.

Also, May & Baker increased from N6.65 to N7.30, adding 65kobo or 9.77 percent; while Japaul Gold rose from N2.55 to N2.80, up by 25kobo or 9.80 percent.

The stock market rose by 0.57 percent on Thursday while investors gained N317billion.

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The market has risen year-to-date (YtD) by 36.61percent amid only one session of negative close this year.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation furthered their northward movement from Wednesday’s lows of 101,571.11 points and N55.583trillion respectively to 102,149.93 points and N55.900trillion.

UBA, Transcorp, Sterling Financial Holding Company, Japaul Gold and Access Corporation were actively traded stocks as investors in 12,235 deals exchanged 504,194,662 shares worth N10.302billion.

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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