LAGOS, (Sundiata Finance) — Seplat Oil, Nestle and Seven Up, among others, on Thursday pushed the equities segment of the Nigerian Stock Exchange (NSE) northward when they recorded significant appreciation in their share prices.
In summary, the All Share Index (ASI) gained 251.26 absolute points, representing a growth of 0.77 per cent to close at 32,937.98 points. Similarly, the market capitalisation gained N87 billion to close at N11.387 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Forte Oil, International Breweries, Seplat, Access Bank, Presco, Okomu Oil, FBN Holdings, Flourmill, Zenith Bank, Total, Nigerian Breweries and Oando.
Analysts at Afrinvest said “The equities market has outperform due to positive macroeconomic developments that have buoyed confidence.” Market breadth was positive, with 45 gainers versus 15 losers. Forte Oil recorded the highest price gain of 10.22 per cent, to close at N58.33 per share.
International Breweries followed with a gain of 10.21 per cent to close at N29.24, while Cadbury appreciated by 10.15 per cent to close at N14.22 per share. Seplat went up by 10.14 per cent to close at N425 and Dangote Flour rose by 10.13 per cent to close at N5.11 per share.
On the other hand, Gold Breweries and Jaiz Bank led the losers’ chart by 4.71 per cent each, to close at 81 kobo per share, each, while Julius Berger followed with a decline of 4.67 per cent to close at N38 per share.
Neimeth depreciated by 4.05 per cent to close at 71 kobo and Wapic Insurance declined by 3.64 per cent to close at 53 kobo per share. However, the total volume traded depreciated by 29.03 per cent to 528.69 million shares, worth N4.84 billion, and traded in 5,603 deals. Transactions in the shares of Access Bank topped the activity chart with 81.82 million shares valued at N832.43 million.
FBN Holdings followed with 71.42 million shares worth N471.73 million, while UBA traded 67.13 million shares valued at N586.54 million. FCMB traded 49.36 million shares valued at N586.54 million, while Fidelity Bank sold 47.36 million shares worth N61.94 million.