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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NGX ASI rises 1.36% as MTN Nigeria and Seplat lead headlines
The NGX ASI closed up 1.358% at 1,815.89 on June 24, after a 0.84% decline on June 23, according to market data and analyst notes. MTN Nigeria drove 3 headlines in 3 days, committing to IFRS S1 and S2 compliance, vesting 129,129 shares worth NGN103.3 million to 6 employees, and appointing Bukola Ajayi as CIO, according to Tribune Online, TechNext.ng and CIO Africa. Seplat Energy also drew focus with Tony Elumelu's appointment as chairman, LEADERSHIP Newspapers reported. Analyst notes showed FTN Cocoa jumping 8.4% with cocoa at $4,986, while cement names fell 10%, underscoring a session shaped by sharp sector divergence.
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