Nigerian stock market rallies as ASI climbs to 98,540 points, despite lower trading quantity
The Nigerian stock market maintained its upward trajectory because the All-Fragment Index (ASI) climbed by 325.80 points, closing the trading day at 98,540.93 points.
This marked yet one other determined session, representing a 0.33% attach when in contrast to the outdated stop of 98,215.13 points.
Notably, this attach used to be performed despite a dip in market quantity, which fell to 286 million shares from the 304.9 million shares exchanged the day sooner than.
The day’s trading took articulate all the design by design of 9,650 offers, with a total market capitalization of N59.70 trillion.
Among the many standout performers of the session were CHAMPION and TANTALIZER, every recording powerful positive aspects. Meanwhile, ACCESSCORP, ZENITHBANK, and ARADEL emerged as leaders in trading quantity.
Leading the rate amongst the tip gainers, CHAMPION surged by 9.97%, closely followed by TANTALIZER with a 9.09% upward thrust.
On the assorted hand, the day’s wonderful loser used to be CAVERTON, which plummeted by 10.00%. TRIPPLEG and CILEASING moreover confronted sizable losses, with declines of 9.95% and 9.80%, respectively.
Market Summary
- Fresh ASI: 98,540.93 points
- Old ASI: 98,215.13 points
- Day Exchange: +0.33%
- Year-to-Date Performance: +31.78%
- Quantity Traded: 286 million shares
- Affords: 9,650
Top 5 Gainers
- CHAMPION: up 9.97% to N3.42
- TANTALIZER: up 9.09% to N0.60
- OANDO: up 7.93% to N77.60
- ARADEL: up 6.09% to N820.00
- ETERNA: up 4.86% to N25.90
Top 5 Losers
- CAVERTON: down 10.00% to N2.34
- TRIPPLEG: down 9.95% to N1.81
- CILEASING: down 9.80% to N3.59
- JAIZBANK: down 9.21% to N2.17
- DEAPCAP: down 9.09% to N1.20
Trading Quantity
Trading quantity fell rather, with 286 million shares altering arms, representing a 5.9% tumble from the day outdated to this’s 304.9 million shares.
ACCESSCORP led the amount charts with 45.94 million shares traded, followed by ZENITHBANK with 30.37 million shares.
ARADEL, UBA, and VERITASKAP were moreover amongst the tip contenders, recording 25.02 million, 16.86 million, and 15.13 million shares traded, respectively.
Trading Fee:
By strategy of trading worth, ARADEL led the pack with transactions totaling a serious N20.7 billion.
SEPLAT followed with N1.17 million in trade worth, whereas ZENITHBANK and ACCESSCORP posted values of N1.13 million and N928.50 million, respectively. OANDO carried out the list with offers rate N773.51 million.
SWOOT and FUGAZ Performance:
The SWOOT shares—AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, SEPLAT, and DANGOTE CEMENT—remained quite stable all around the session.
On the different hand, FUGAZ shares experienced mixed outcomes. GTCO and ACCESSCORP slipped by 3.21% and 1.28%, respectively.
ZENITHBANK seen no movement, whereas UBA fell sharply by 7.55% and FBNH dipped rather by 0.76%.
Outlook:
Making an strive forward, the All-Fragment Index is anticipated to proceed its bullish momentum, potentially surpassing the ninety nine,000-point threshold within the arrival classes.
With favorable fundamentals and determined third-quarter outcomes rolling in, investor sentiment is likely to remain tilted in direction of the buyside, in particular for mountainous-cap shares, providing extra upward tension on the index.
