NSE: 4th consecutive day gain spurred by interest in Seplat, others

The Nigerian Stock Exchange (NSE) sustained its positive run, as buying interests in bellwethers SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC (which grew by 8.8%), DANGOTE CEMENT PLC (which gained 3.0%), and MTN NIGERIA COMMUNICATIONS PLC (which gained 1.8%) spurred a fourth consecutive gain in the equities market.

Precisely, the NSE All-Share Index notched a 1.54% or 622.09 basis points increase to close at 40,963.14 basis points up from 40,341.05 basis points, even as the Market Capitalization advanced also by 1.54% or 325 billion Naira to close at N21,419 trillion from N21,094 trillion.

At the close of trading on Thursday, the total volume of trades increased by 72.9% and stood at 809.36 million units of share, valued at N8.91 billion, and exchanged in 6,706 deals.

TRANSNATIONAL CORPORATION OF NIGERIA PLC was the most traded stock by volume at 136.58 million units, while GUARANTY TRUST BANK PLC was the most traded stock by value at N2.25 billion.

Sectoral performance was positive across boards, following gains in the Insurance index which gained 5.3%,  Oil & Gas index which increased by 5.2%, Banking index which gained 2.4%, Industrial Goods index which gained 1.7% and Consumer Goods index which gained 0.7%.

Market sentiment, as measured by market breadth, was positive (6.9x), as 49 stocks gained, relative to 7 losers.

Top on the list of gainers is CHAMPION BREW. PLC with a 0.11k or 9.82 percent gain to close at N1.23k per share from N1.12k per share.

Next is NASCON ALLIED INDUSTRIES PLC with a N1.55k or 9.72 percentage advanced movement from N15.95k per share to N17.50k per share. And JAPAUL GOLD & VENTURES PLC followed with a move from N1.27k per share to N1.39k per share, increasing by 0.12k or 9.45 percent.

Conversely, COURTEVILLE BUSINESS SOLUTIONS PLC leads the losers dropping from 0.24k per share to 0.22k per share by 0.02k or 8.33 percent.

NEIMETH INTERNATIONAL PHARMACEUTICALS PLC was next top loser by 0.14k or 6.36 percent, when it closed at N2.06k per share as against previous selling price of N2.20k per share, while UNION DIAGNOSTIC & CLINICAL SERVICES PLC took the third position, when it fell from 0.32k per share and stood at 0.31k per share by 0.01k or 3.13 percent.