NGX GAINS N238BN AS SEPLAT LEADS RALLY

The Nigerian Exchange recorded a positive session on Thursday, with market capitalisation rising by N238.37bn as renewed buying interest lifted major stocks.

The market capitalisation increased from N158.91tn at the previous close to N159.15tn, while the NGX All-Share Index gained 369.05 points, or 0.15 per cent, to close at 246,388.22.

Seplat Energy led the gainers, rising by 10 per cent to close at N13,552.60 per share from N12,320.55. UPDC Real Estate Investment Trust also recorded a strong performance, gaining 9.88 per cent to close at N13.90.

Learn Africa followed with a 9.49 per cent increase, closing at N8.65 per share.

The gains came amid renewed interest in heavyweight energy, banking and other selected equities on the exchange.

The market’s recovery provided some relief following recent periods of weaker trading and profit-taking among investors.

Analysts and market participants are expected to continue watching the performance of large-cap stocks, particularly as investors assess corporate earnings, economic conditions and other factors affecting market sentiment.

The latest session also highlights the influence of major stocks such as Seplat on the overall movement of the Nigerian equities market.

With the market capitalisation now above N159tn, investors will be looking to see whether the positive momentum can be sustained in subsequent trading sessions.