Business

Market Rebound: Nigerian Stock Index climbs by 0.62% as key stocks surge 

The Nigerian All-Share Index (ASI) closed on a positive note today, gaining 596.34 points as market sentiment turned bullish.

ASI rose by 0.62%, settling at 96,802.80 points, up from the previous day’s close of 96,206.46 points, partially reversing losses from earlier in the week.

Market capitalization also increased by 0.61%, reaching N55.62 trillion from N55.28 trillion, driven by strong performances from stocks such as SFSREIT, RTBRISCOE, and CAVERTON, which saw gains of over 9%.

SFSREIT led the gainers, surging 9.98%, while LEARNAFRCA emerged as the top loser, dropping 9.69%. Other notable decliners included TIP and JAPAULGOLD, which fell by 6.77% and 6.67%, respectively.

In total, the market recorded 12,241 deals, a rise from 10,412 transactions in the previous session.

 

Market Snapshot 

Current ASI: 96,802.80 points

Previous ASI: 96,206.46 points

Day Change: +0.62%

YTD Performance: +29.46%

Market Cap: N55.62 trillion

Volume Traded: 406.19 million units

Deals: 12,241

 

Top 5 Gainers 

SFSREIT: up 9.98% to N163.15

RTBRISCOE: up 9.93% to N3.10

CAVERTON: up 9.77% to N1.91

MCNICHOLS: up 8.89% to N1.47

CUSTOMS: up 8.87% to N13.50

 

Top 5 Losers 

LEARNAFRCA: down 9.69% to N3.73

TIP: down 6.77% to N1.79

JAPAULGOLD: down 6.67% to N2.52

AIICO: down 4.39% to N1.09

NEIMETH: down 4.29% to N2.01

Trading Volume 

Despite the positive market movement, trading volume dipped to 406.19 million shares, down from 774.38 million shares in the previous session.

OANDO led trading volumes with 58.48 million shares, followed by ACCESSCORP with 30.37 million shares.

Other key trades included JAPAULGOLD (28.82 million shares), FBNH (20.88 million shares), and UBA (19.99 million shares).

Trading Value

Total trade value declined by 9% to N13.31 billion from N14.65 billion on Monday. OANDO topped value transactions with N5.52 billion, followed by TRANSPOWER (N2.15 billion), GTCO (N860.68 million), and ACCESSCORP (N557.65 million).

SWOOT and FUGAZ Update: 

  • With the index in green today, companies such as Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transpower showed resilience, maintaining steady stock prices.
  • In the banking sector, major players like FBN Holdings, Zenith Bank, and GTCO saw no change in their share prices, all closing flat at 0.00%.
  • However, Access Bank and UBA experienced declines, with their shares falling by 2.96% and 2.13%, respectively.
  • Looking ahead, the Nigerian All-Share Index may continue to correct recent losses, potentially recovering further from its recent low of 95,718.05 points in August, as positive sentiment continues to influence the market.

 


Source: TheTimes.com.ng.

Back to top button