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Thursday, May 26, 2022

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Nigeria’s equity market rises 0.34% on Seplat, Flour Mills shares gain

The Nigerian equity market closed on a positive note on Friday with the main index up 0.34 per cent and capitalisation increased by N98 billion at the close of transactions.

Specifically, the All-Share Index increased by 0.34 per cent to close at 53,098.46 points from 52,917.76 points the previous day.

The market capitalisation of equities listed on the NGX increased to N28.626 trillion from N28.528 trillion as of the previous close.

The total volume traded closed with an exchange of 303.485 million units valued at N3.57 billion traded in 7,019 deals.

The market breadth was positive with 29 gainers as against 28 losers.

The NGX 30 Index increased by 0.23 per cent to close at 2,060.70 points as against 2,055.91 points at the previous close.

Market turnover closed with a traded volume of 122.90 million units. Flour Mills and Seplat were the key gainers, while International Breweries and Stanbic IBTC were the key losers.

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Flour Mills shares rose 9.22 per cent, Seplat Energy rose 8.23 per cent while Fidelity Bank shares increased by 7.25 per cent.

Also, the shares of Custodian Insurance grew by 4.20 per cent while the stocks of Zenith International Bank rose 2.68 per cent.

On the revised side, the shares of International Breweries fell 9.74 per cent, Stanbic IBTC dropped 5.71 per cent and FBNH fell 2.05 per cent. Sterling Bank was down 1.30 per cent while Lafarge fell 1.10 per cent.

On the money market, the interest rate on the interbank increased by 4.17 per cent as the Overnight (O/N) rate closed at 9.17 per cent as against the last close of 5.00 per cent previously.

Also, the Open Repo (OPR) rate also increased by 4.17 per cent to close at 8.67 per cent compared to 4.50 per cent on the previous day.

On the foreign exchange market, the Naira appreciated by 0.24 per cent as the dollar was quoted at N419.00 against the last close of N420.00.

Most participants maintained bids between N412.38 and N444.00 per dollar.

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