Nigerian Stock Market Rebounds N238bn, Seplat & UPDC Lead Ga
The Nigerian stock market experienced a rebound, with the All-Share Index rising 0.15% and market capitalization increasing by N238 billion. Gains were driven by strong performance in the energy and banking sectors, led by Seplat Energy.
Why it matters
This market movement reflects investor confidence and sectoral shifts within the Nigerian economy, which is a key indicator for regional financial health.
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.
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