Equities Investors Gain N683bn as Seplat, Zenith Bank Rally
Seplat Energy and Zenith Bank were among the risers in the stock market, driving momentum in the Nigerian Exchange (NGX) on Wednesday, boosting key performance indicators by 56 basis points.
NGX market cap climbed by ₦683.62 billion to ₦122.24 trillion. Stockbrokers reported that the equities market rebounded after sharp profit-taking activities on Tuesday. The All-share index advanced by +0.56% to close at 190,427.96 index points, supported by fresh hunting.
Stockbrokers said the uptrend was driven by renewed interest in heavyweight tickers such as SEPLAT (+8.33%), PRESCO (+4.05%), ZENITHBANK (+3.91%), FCMB (+3.80%), and UBA (+1.51%), among others.
The gains posted by the risers offset losses recorded in VITAFOAM (-9.98%), ACCESSCORP (-2.91%), PZ (-2.16%), OANDO (-1.36%), and GTCO (-1.07%), among others.
Trading details indicated that the market recorded a turnover of ₦61.88 billion, as 3.66 billion shares exchanged hands in 68,693 deals, reflecting solid liquidity and continued investor confidence.
With the sustained activities of buy-side actors, year-to-date return surged to +22.4% respectively, reflecting sustained investor optimism and the market’s resilience.
FCMB led both the volume and value charts with 2.9 billion units traded (80.17% of total volume) and led the value log with N35.9 billion (57.98% of total trade value), following two heavyweight crosses of 1.2 billion shares each at N12.30 and a subsequent 500,000-unit cross at the same level.
Market activity levels improved, with the total volume traded increasing by 205.7% to 3.7 billion units, while total value traded gained 2.8% to close at N61.9 billion.
Sectoral performance was largely bullish, with five indices closing positive in today’s session. The Oil & Gas (+3.87%) and Commodity (+2.78%) indices closed higher, driven by buying interest in SEPLAT (+8.33%).
The Banking gained +0.67%, the Consumer Goods rose by +0.22%, and Industrial Goods climbed by +0.09% driven by gains in ETI (+4.65%), INTBREW (+2.78%), and BETAGLAS (+10.00%), respectively. Conversely, the Insurance index dipped by -0.20%, pressured by losses in NEM (-4.04%). NGX lists Dangote Cement Commercial Paper
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