Seplat Petroleum Development Company Plc, BOC Gases Nigeria Plc, Continental Reinsurance Plc, Learn Africa Plc and WAPIC Insurance Plc topped the losers’ chart of the Nigerian Stock Exchange on Thursday after 45 firms recorded gains at the close of trading.
A total of 801.075 million shares worth N7.821bn exchanged hands in 6,481 deals.
The equities market recorded N303bn gain as the NSE market capitalisation closed at N9.825tn from N9.522tn.
Consolidating on the massive gains recorded in the previous trading sessions, the NSE All-Share Index advanced by 3.18 per cent to 28,423.70 basis points from 27,546.68 basis points.
The year-to-date return of the index was pushed further into the positive region to settle at 5.76 per cent. Volume of shares traded and the market turnover increased by 37.14 per cent and 38.41 per cent, accordingly. There were 45 gainers and 13 laggards at the close of trading.
The share price of Seplat depreciated by N41.43 (9.75 per cent) to close at N383.57 from N425, while BOC Gases stocks closed at N3.35 from N3.52, shedding N0.17 (4.83 per cent).
In the same vein, Continental Reinsurance, Learn Africa and WAPIC share prices dropped by 4.62 per cent, 4.49 per cent and 3.70 per cent, respectively.
Forte Oil Plc was the top outperformer in the market with 10.23 per cent gain, trailed by Ecobank Transnational Incorporated Plc, Cement Company of Northern Nigeria Plc, May & Baker Nigeria Plc and Cadbury Nigeria Plc, which recorded 10.06 per cent, 9.87 per cent, 9.40 per cent and 9.23 per cent, respectively.
The NSE sector indices followed a similar pattern as the previous trading days with advancements recorded across all sectors as the industry, banking, food/beverage and insurance indices gained 4.31 per cent, four per cent, 3.32 per cent and 0.06 per cent, respectively.
Only the NSE oil/gas index dropped by 2.28 per cent which was dragged by the price depreciations recorded by Seplat.
“While some large-cap tickers consolidated on their respective price appreciations, trickles of profit-taking were witnessed in the day. We posit a moderation in the buy pressures, which have characterised the week. Today, however, we reiterate that the market will close upbeat week-on-week,” analysts at Meristem Securities Limited said in a post.
Meanwhile, the open buy-back and overnight rates declined by 1.50 per cent and 2.58 per cent, respectively, to peg at 14.17 per cent and 14.67 per cent, accordingly, causing a 2.04 per cent decline in the average money market rate, which settled at 14.42 per cent.
Bearish sentiments were recorded in the Treasury bills space, as the average treasury bills yield advanced by 0.10 per cent, to close at 20.09 per cent. There were yield advancements on all tenors, save for the 12-month instrument which declined by 0.03 per cent.
However, in the Treasury bonds market, there were bullish sentiments as the average bond yield declined by 0.60 per cent, reversing the prior day’s advancement, to close at 16.84 per cent. There were yield advancements on 10 instruments, while all others traded flat.