SEPLAT Leads Equity Market Loss Of N6.05 Billion

Buying exhaustion occurred at the close of trading in the equity market of the Nigerian stock exchange following last-minute investors’ sell-off of SEPLAT (-3.30%) shares.

Thus, the all-share index fell by -0.02% to close at 47,353.22 basis points, down by 11.24 basis points from the previous session's close of 47,364.46 basis points.

Furthermore, the ASI index fell short of the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point) by 129.51 bps.

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indices stayed negative by -0.18% and -0.09%, respectively, while the Year-to-Date (Y-t-D) index stayed positive by +10.85%.

There was a 64.39% increase in the number of units traded to 239.73 million units traded in 3,848 transactions, compared to the previous session's figure of 145.83 million units traded. At the same time, the value of shares rose by 53.51% to NGN3.89 billion, compared to the previous session's figure of NGN2.54 billion traded.

As a result, the equity market lost NGN6.05 billion after it closed at NGN25,520.81 trillion instead of NGN25,526.86 trillion.

VERITASKAP, was the most dominant stock by volume, with 30.01 million units traded, while increased buying pressure on the shares of MTNN made it retain its position as the most dominant stock by value, with NGN961.43 million traded.

Some of the notable mentions included GTCO, with a share value of NGN477.76 million, and UBA, with a volume trade of 27.73 million units, among others.

As measured by market breadth, the mood in the market was negative as 17 stocks lost relative to 16 stocks that gained.

The most gains were made by UACN (+10.00%), which closed trading at NGN12.10/unit, ROYALEX (+9.80%), which closed trading at NGN1.12/unit, WAPIC (+8.16%), which closed trading at NGN0.539/unit, and PRESCO (+6.40%), which closed trading at NGN133.00/unit, while NIGERINS (-9.09%), which closed trading at NGN0.20/unit, CORNERST (-6.45%), which closed trading at NGN0.58/unit, VERITASKAP (-4.55%), which closed trading at NGN0.21/unit, and SEPLAT (-3.13%), which closed trading at NGN930.00/unit, registered the most losses.