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HomeBusinessNigeria equities rebound with index up 0.16% on Seplat, Stanbic, UBA gains

Nigeria equities rebound with index up 0.16% on Seplat, Stanbic, UBA gains

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By Samuel Bankole

The Nigerian equity market rebounded on Thursday, with the index closing higher by 0.16 percent thanks to gains in energy firm Seplat and banking stocks.

The shares in Seplat Energy closed higher by 9.95 percent, followed by Stanbic IBTC, which was up 3.87 percent; United Capital, up 1.72 percent; United Bank for Africa (UBA), up 1.45 percent; Fidelity Bank, up 1.44 percent; and GTCO, up 1.10 percent.

On the flip side, the shares of International Breweries fell 6.52 percent, Dangote Sugar declined 5.66 percent, Transcorp Hotel fell 4.33 percent, Transcorp fell 3.80 percent, and FCMB fell by 0.88 percent.

Consequently, the All Share Index increased by 0.16 percent to close at 66,548.99 points, with the year-to-date gain closing at 29.85 percent.

The market cap of equities listed on the NGX increased to N36.423 trillion from N36.363 trillion at the previous close.

The total volume traded closed with an exchange of 620.982 million units valued at N7.18 billion traded in 7,972 deals.

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The market breadth was positive, with 31 gainers as against 19 losers.

The NGX 30 Index marginally increased by 0.03 percent to close at 2,447.85 points as against 2,447.11 points at the previous close.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 7.83 percent.

A total of 620.98 million shares valued at N7.18 billion were exchanged in 7,972 deals.

Sterling Bank (+0.60 percent) led the volume chart with 160.99 million units traded, while Transcorp (-3.80%) led the value chart with deals worth N847.54 million.

Market breadth closed positive at a 1.11-to-1 ratio, with advancing issues outnumbering declining ones. NGXGROUP (+10.00 percent) topped nineteen (19) others on the leader’s table, while MULTIVERSE (-10.00 percent) led seventeen (17) others on the laggard’s log.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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