Seplat, UPDC Lead N238bn Rebound On NGX

Seplat, UPDC Lead N238bn Rebound On NGX

The Nigerian equities market closed on a positive note on Thursday as renewed buying interest in heavyweight energy, banking, and printing equities lifted key performance indicators. Specifically, the All-Share Index advanced by 369.05 basis points, or 0.15 per cent, to close at 246,388.22 bps, compared with the previous day’s close of 246,019.17 bps.

Consequently, the total market capitalisation of listed equities expanded by N238.37bn to settle at N159.15tn, up from N158.91tn recorded on Wednesday.

The bullish performance was significantly boosted by top-tier gainers, led by Seplat Energy Plc, which surged 10.00 per cent to close at N13,552.60 per share, up from its previous price of N12,320.55. UPDC Real Estate Investment Trust followed closely with a 9.88 per cent gain to close at N13.90, while Learn Africa Plc appreciated 9.49 per cent to trade at N8.65 per share.

Other notable gainers included Regency Alliance Insurance Plc, which rose 4.76 per cent to N0.88; Jaiz Bank Plc, which added 4.22 per cent to finish at N8.65; and Coronation Insurance Plc, which grew 4.18 per cent to close at N2.49 per share.

Conversely, R. T. Briscoe Nigeria Plc led the drop on the price depreciation chart, plunging 10.00 per cent to close at N9.90 per share, while Critical Minerals Financing Corp Plc fell 9.86 per cent to N2.56. Sovereign Trust Insurance Plc lost 9.73 per cent to settle at N2.04, Abbey Mortgage Bank Plc slipped 9.68 per cent to N7.00, and NASCON Allied Industries Plc dropped 8.03 per cent to close at N161.40 per share.

Sectoral performance reflected mixed market sentiment across key trading desks during the session.

The Oil and Gas Index maintained a strong upward trajectory, rising 2.22 per cent to close at 5,594.51 points, buoyed by…