NGX Index Rebounds 0.1% Driven by Seplat and Access

On Thursday, Nigeria’s equities market experienced a modest rebound, with the NGX All-Share Index increasing by 0.1% to close at 242,378.13 points. This recovery was primarily fueled by significant gains in several heavyweight stocks, notably Seplat Energy, which surged by 10%.

Other notable performers included Transnational Corporation, which rose by 4.5%, Access Holdings with a 5.7% increase, and Guaranty Trust Holding Company, which gained 1.5%. Despite this positive movement, the market's overall sentiment remained weak, as evidenced by a negative market breadth with 29 stocks declining compared to 23 gainers.

The Month-to-Date return stood at -0.8%, while the Year-to-Date gain was at 55.8%. Trading activity saw a sharp increase, with 1.40 billion shares exchanged in 46,218 deals, reflecting a 161.8% rise in volume.

FTG Insurance led trading by volume, while Aradel Holdings topped by value. The Oil and Gas index was the best-performing sector, rising by 0.8%, while the Consumer Goods index fell by 1.0%.