Seplat listing boosts NSE market capitalisation by N28bn

The market capitalisation of the Nigerian Stock Exchange (NSE) on Monday appreciated by 2.23 per cent due to the listing of Seplat Petroleum Development Company.

The News Agency of Nigeria (NAN) reports that a total of 543.28 million units of Seplat Petroleum Development Company were listed at N576 per share.

Consequently, the market capitalisation increased by N28 billion or 2.23 per cent to close at N12.834 trillion against N12.554 trillion achieved on Friday.

The All-Share Index, however, dropped by 96.16 points or 0.25 per cent to close at 38,987.50 from the 39,083.66 posted on Friday following price losses.

NAN reports that Conoil led the price losers’ chart, losing N2.59 to close at N49.31 per share. Mobil lost N1.99 to close at N122, while Nigerian Breweries dropped 96k to close at N148.04 per share.

Union Dicon Salt lost 70k to close at N13.44, while Oando depreciated by 66k to close at N15.30 per share.

On the other hand, Forte Oil topped the gainers’ chart, appreciating by N13.72 to close at N148.99 per share.

UAC Property garnered 50k to close at N25.60, while Dangote Flour grew by 20k to close at N8.30 per share.

Red Star Express gained 18k to close at N4.36, while Honeywell improved by 17k to close at N3.71 per share.

The volume of shares traded dropped by 31.31 per cent with 188.24 million shares worth N1.52 billion traded in 3,667 deals.

This was in contrast to the 274.05 million shares valued at N3.99 billion traded in 4,407 deals on Friday.

FCMB emerged the most traded equity with 30.52 million shares worth N106.83 million.

It was followed by Sterling Bank which accounted for 28.03 million shares valued at N66.24 million, while Skye Bank sold 12.75 million shares worth N44.88 million.

Transcorp accounted for 12.70 million shares valued at N48.27 million, while ETI traded 12.68 million shares worth N164.77 million. (NAN)