Stock  Market  Adds N409.66bn on Buying Interest in Seplat, Others  

Kayode Tokede 

Bullish sentiments persisted in the stock market section of the Nigerian Exchange Limited (NGX) yesterday, gaining N409.66 billion on investors’ demand for  Seplat  Energy Plc and 34 others. 

As Seplat Energy added 10 per cent or N561.00 per share to close at N6,171.00 per share, the market capitalisation that opened  for trading at N102.3 trillion, gained N409.66 billion  or 0.4 per cent to close at N102.685 trillion.

In three days, THISDAY learnt that market capitalisation has advanced by  N2.75triillion from N99.938 trillion  to close yesterday at N102.685 trillion.  

Also, the NGX All-Share Index closed trading at  160,591.76 basis points, about 640.68 basis points or 0.4 per cent increase from  159,951.08  basis points the market opened for trading activities. 

Sectoral performance was broadly positive, as the NGX Oil & Gas Index (+3.9per cent), NGX Insurance Index (+1.1per cent), NGX Industrial Goods Index (+0.5per cent), and NGX Consumer Goods Index (+0.5per cent) indices advanced, while the Banking (-0.1per cent) index declined.

The market sentiment was bearish with 35 advancing stocks outweighed by 38 declining counters. Okomu Oil, Union Dicon Salt and Seplat Energy recorded the highest price gain of 10 per cent each to close at N1,204.50, N8.80 and N6,171.00 respectively, per share. NCR Nigeria followed with a gain of 9.97 per cent to close at N79.95, while McNichols rose by 9.93 per cent to close at N4.76, per share.

On the other hand, Cadbury Nigeria led the losers’ chart by 10 per cent to close at N63.00, per share. Austin Laz & Company followed with a decline of 9.93 per cent to close at N5.08, while Aluminium Extrusion Industries declined by 9.91 per cent to close at N19.55, per share.

Haldane McCall depreciated by 9.85 per cent to close at N4.21, while FTN Cocoa Processors declined by 9.62 per cent to close at N6.01, per share.

Meanwhile, the total volume traded rose by 90.84 per cent to 1.441 billion units, valued at N20.695 billion, and exchanged in 49,286 deals. Transactions in the shares of Universal Insurance topped the activity chart with 804.114 million shares valued at N410.401 million. Linkage Assurance followed with 54.880 million shares worth N98.845 million, while Access Holdings traded 29.739 million shares valued at N691.536 million.

Ellah Lakes traded 26.507 million shares valued at N446.385 million, while Mutual Benefits Assurance sold 24.476 million shares worth N100.198 million.

On market outlook, Imperial Asset Managers Limited said, “near-term sentiment is expected to remain cautiously positive, supported by strong early-year momentum, improving market capitalization, and sustained interest in select mid- and large-cap stocks.

“However, the negative close in the Banking index and the slight deterioration in market breadth suggest increasing selectivity, as investors rotate out of recent outperformers and lock in profits.

“Going forward, market direction is likely to be driven by stock-specific fundamentals, earnings expectations, and sector rotation, with trading activity remaining mixed as participants balance optimism with profit-taking pressures.”