Seplat leads oil stocks slump as Nigerian bourse sheds N76m


Some major oil stocks recorded price depreciation on the Nigerian Stock Exchange ( NSE ) on Tuesday with Seplat leading the losers’ table.

Seplat lost N35 to close at N665.10 per share.

Mobil came second with a loss of N7.50 to close at N177, while Total was down by N3.70 to close at N240 per share.

International Breweries dipped N2.85 to close at N54.15, while Guinness depreciated by N2 to close at N103 per share.

Consequently, the market capitalisation shed N76 billion or 0.51 per cent to close at N14.899 trillion against N14.975 trillion.

Also, the All-Share Index opened at 41,454.30 dropped 211.06 points or 0.51 per cent to close at 41,243.24.

On the other hand, Nestle led the gainers’ table during the day, improving by N19 to close at N1, 339 per share.

GlaxosmithKline followed with a gain of N2.85 to close at N30.90, while Forte Oil gained N1.90 to close at N41.90 per share.

MRS Oil increased by N1.35 to close at N28.35, while Cement Company of Northern Nigeria added 90k to close at N19.65 per share.

Japaul Oil and Maritime was the toast of investors, exchanging 80.29 million shares worth N58.08 million.

Zenith International Bank followed with an account of 59.85 million shares valued at N1.79 billion, while FBN Holdings traded 24.33 million shares worth N301.22 million.

Transcorp exchanged 22.22 million shares worth N42.42 million, while Access Bank sold 16.691 million shares valued at N189.70 million.

In all, the volume of shares traded dropped by 7.12 per cent with an exchange of 352.89 million shares worth N4.14 billion in 4,807 deals.

This was against the 379.93 million shares valued at N5.13 billion transacted in 4,913 deals.


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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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