Seplat tops NGN10,000 as NGX ASI rises 0.79%
The NGX ASI rose 0.7911% to 1,629.59 on April 16, after gains of 0.28% on April 15 and 2.09% on April 14, according to market data and analyst notes. Seplat Energy crossed NGN10,000 per share, the first NGX stock to hit that mark, according to TheCable, while MarketForces Africa said the stock stayed above NGN10,000 on April 15. The rally was also driven by Stanbic IBTC, ETI and NGX, helping add NGN884 billion in market value on April 14, Vanguard News reported. Aradel jumped 10% on NGN5.56 billion of trades on April 16, while WAPCO gained 4.2% over 5 days, according to analyst reports. In consumer goods, Nigerian Breweries raised concerns about a proposed tax stamp regime, according to Peoples Gazette Nigeria.
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