Nigerian stock market climbs by 0.18% as banking stocks shine
The Nigerian All-Portion Index (ASI) persisted its certain pattern on Tuesday, closing up +181.ninety 9 aspects at 98,568.59, marking a 0.18% lengthen from the outdated terminate.
Banking stocks, particularly FBNH and FIDELITY, had been amongst the quit advancers. Market exercise lowered a little, with a quantity of 763 million shares traded compared to 810.42 million on the outdated trading day.
NIDF emerged because the quit performer, surging 10%, followed carefully by FBNH, which also rose by 10%. On the downside, OANDO was the quit loser, falling 10%, while OKOMU OIL and CAVERTON declined by 9.98% and 9.88%, respectively.
Market Snapshot
- Fresh ASI: 98,568.59 aspects
- Outdated ASI: 98,386.00 aspects
- Day Change: +0.18%
- 12 months-to-Date Efficiency: +31.76%
- Volume Traded: 763.00 million shares
High 5 Gainers
- NIDF: up 10.00% to N101.16
- FBNH: up 10.00% to N28.20
- ELLAHLAKES: up 9.76% to N3.38
- FIDELITYBK: up 9.70% to N14.95
- ABCTRANS: up 9.52% to N1.05
High 5 losers
- OANDO: down 10.00% to N80.00
- OKOMUOIL: down 9.98% to N417.70
- CAVERTON: down 9.88% to N4.05
- MULTIVERSE: down 9.82% to N11.2
- FIDSON: down 9.74% to N17.Forty five
Buying and selling Volume
The quantity for the day reached N763.00 million shares, marking a decline from the 810.42 million shares reported on Friday.
FIDELITY emerged because the frontrunner in trading quantity, with 126.09 million shares exchanged. TRANSCORP carefully followed, trading 103.4 million shares.
Varied essential transactions incorporated UBA with 73.54 million shares, CAVERTON at 43.67 million shares, and ELLAHLAKES, which saw 42.14 million shares alternate hands.
Buying and selling Payment
By formulation of trading price, FIDELITYBK also was on the quit, collecting N2.08 billion in transactions.
UBA was no longer a long way on the lend a hand of, contributing N1.8 billion to the overall trading price.
OANDO, FBNH, and TRANSCORP also recorded well-known trading values of N1.4 billion, N1.16 billion, and N749 million, respectively.
SWOOT and FUGAZ Update
- Mountainous-cap stocks corresponding to Airtel Africa, BUA Cement, BUA Meals, Dangote Cement, Geregu Energy, Seplat Energy, and Transcorp Energy exhibited balance in their performance.
- On the replacement hand, Oando skilled a essential decline, dropping by 10.00%.
- In the banking sector, FBNH surged 10.00%, making it the quit-performing stock for the period of the FUGAZ banking neighborhood.
- UBA also saw a legitimate lengthen of 4.fifty three%. In the period in-between, GTCO, ACCESSCORP, and ZENITHBANK recorded modest beneficial properties of 0.21%, 1.84%, and zero.27%, respectively.
OUTLOOK
The index is exhibiting a bullish pattern, amid the resurgence in banking stocks that had been beforehand undergoing a correction.
As a result, the All-Portion Index is anticipated to upward push more in the arrival weeks eyeing 100,000 aspects.