Seplat, UPDC drive 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 sustained demand for Seplat Energy and Eterna Plc. The
Premium Board Index also recorded an upward move, advancing 1.13 per cent to finish at
30,209.12 points.
However, selling pressure across selected tier-one banking stocks pulled the NGX Banking
Index down 0.27 per cent to 2,624.45 points, while the NGX Insurance Index contracted
2.00 per cent to close at 1,132.93 points.
Trading activity across the Exchange yielded a cumulative volume of 433,966,907 shares
exchanged across 42,217 deals. United Bank for Africa Plc recorded the highest transaction
volume for the day, with investors trading 113.26 million shares valued across 1,107 trades.
Guaranty Trust Holding Company Plc registered 34.25 million shares in 2,568 deals,
Access Holdings Plc transacted 24.88 million shares in 2,225 trades, and Sovereign Trust
Insurance Plc saw 21.21 million shares change hands in 185 deals. In the fixed income
market segment, the Central Bank of Nigeria maintained its benchmark Monetary Policy
Rate at 26.50 per cent.