Seplat’s N185 Billion Plunge Pulls NGX to Two-Week Low
Seplat Energy Plc saw a significant drop on the Nigerian Exchange (NGX) today, with its share price decreasing by 8.30 percent to end at N3,480. This fall also led to a reduction in market capitalization by N185.16 billion.
The decline in Seplat Energy’s stock was a key factor in the Nigerian Exchange’s overall decrease of 0.33 percent, closing the day with an All-Share Index of 99,468.69, the lowest since June 27, 2024.
The market’s performance for the day continued the bearish trend seen throughout the week, with the NGX dropping by 0.55 percent from the week’s opening of 100,022.03 points.
There was a 68 percent drop in traded volume today, with only 296.732 million shares exchanged, compared to 935.148 million shares traded the previous day.
Market Highlights
The decline in turnover volume was accompanied by a decrease in turnover value, which fell by 54 percent to N5.448 billion from yesterday’s N11.840 billion.
Top Gainers: No stock within the NGX-30 Index made it to the top gainers list, with Linkage Assurance leading as the top gainer for the day with a 9.80 percent increase.
