The NGX All-Share Index closed the week positively appreciating by 0.4% while the market capitalization rose to N25.507 trillion. About 44 stocks appreciated in price during the week, higher than 43 equities in the previous week. About 22 equities depreciated in price, lower than 38 equities in the previous week, while 90 equities remained unchanged.
Topping the gainers’ chart this week were penny stocks as the likes of RT Briscoe, Niger Insurance and Etranzact came in at first, second and third, respectively. Results also continued to pour in during the week even though we did not see any from any major Blue-chip.
One of the biggest news during the week was from Seplat who announced it has reached a deal with Mobil Producing to buy its largest offshore asset in Nigeria, in a deal that could rise to as high as $1.5 billion. Seplat shares gained 7.5% to close at N859.9 as investors reacted positively. Here are a few highlights of the deal.
