Seplat Rallies as Equity Market Sustains Upbeat

June 9, 2017
Seplat Rallies as Equity Market Sustains Upbeat

Seplat Rallies as Equity Market Sustains Upbeat

By Modupe Gbadeyanka

The continued investors’ interest in large and mid-cap stocks such as Seplat sustained the positive momentum of the local bourse to third straight session at the close of transactions on Friday.

The All-Share Index (ASI) rose marginally by 1.03 percent or 338.7 basis points to finish at 33,276.68 basis points today, crossing the 33,000 basis points mark for the first time in many months.

Business Post correspondent reports that as a result, the market capitalization improved by N117 billion to settle at close at N11.504 trillion.

At the close of trading activities on the floor of the Nigerian Stock Exchange (NSE), investors exchanged a total of 686.3 million shares executed in 6,785 deals valued at N6.1 billion.

Our correspondent reports further that the year-to-date return settled on Friday at 23.82 percent, while the market breadth ended positive as 43 stocks advanced against 17 which declined at the Nigerian bourse today.

The advancers were led by Seplat, which gained N43.56k to finish at N468.56k per share and Forte Oil, which advanced by N5.97k to settle at N64.30k per share.

International Breweries progressed by N2.99k to end at N32.23k per share, Presco added N2.97k to close at N62.50k per share, while Total Plc appreciated by N2.50k to finish at N282 per share.

Conversely, Flour Mill declined by N1.20k to end at N27.60k per share and Mobil waned by N1.14k to wrap the day at N285.86k per share.

Nigerian Breweries decreased by 50k to end at N156 per share, Unilever depreciated by 45k to close at N35.55k per share and University Press Plc deflated by 37k to finish at N3.46k per share.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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