NGX gains N1.268trn as Seplat, GTCO others drive rally

The Nigerian equities market sustained its bullish trajectory on Thursday, extending gains by N1.268 trillion as some capitalised stocks continued to lift trading activities.

The session reflected growing confidence in the current market outlook, supported by improving technical structure and expectations of earnings resilience across key sectors.

This resulted in market capitalisation of listed equities appreciating by 1.18 per cent to N109.139 trillion from N107.861 trillion it closed on Wednesday.

The NGX All Share Index also increased by 1975.18 basis points to 170005.36 points from 168030.18 points recorded the previous day.

The positive performance recorded during the day was as a result of positive performance in mid and highly capitalised stocks such as Access Holdings, MTN Nigeria, SeplatEnergy, GTCO Plc, Dangote Cement, CNIF among others.

The market was positive with 55 advancers against 19 decliners, bringing year to date return to 9.25 per cent

A review of transactions showed that Guinea Insurance, Seplat Energy, CNIF led gainers table with a gain of 10 per cent to close at N1.43, N7370.00 and N110.00 per share respectively. RTBriscoe followed with a gain of 9.95 per cent to close at N11.49 per unit, Neimeth international Pharmaceutical added 9.90 per cent to close at N11.10 per share.

On the contrary, Deap Capital topped losers’ chart, dropping by 9.62 per cent to close at N6.20 per unit, Universal Insurance followed with a loss of 9.43 per cent to close at N1.44 per unit, HMCall dipped by 9.09 per cent to close at N4.00, Redstarex declined by 9.04 per cent to close at N15.60 per unit, UPDC fell by 7.02 per cent to close at N5.39 per unit.

Volume of trades also went up by 18.195 million, representing 2.62 per cent as investors traded 712.980 million shares against 694.787 million reported the previous day. Value of transactions also up by 8.24 per cent to settle at N22.262 billion in 46104 deals.

Trading in the shares of Access Holdings Company led market activities with 106.630 million shares valued at N2.451 billion, Chams Plc followed with account of 44.502 million shares cost N201.309 million, Champion Breweries traded 44.464 million shares worth N774.312 million, Universal Insurance traded 34.821 million shares valued at N53.644 million while Deap Capital sold a total of 22.740 million shares cost N141.907 million.