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Stock market rises as All-Portion Index positive aspects 0.23%, closing within the inexperienced 

The Nigerian All-Portion Index (ASI) prolonged its crawl trajectory in one more procuring and selling session, gaining 229.02 aspects as crawl sentiment continued to gas market project.

All-Portion rose by 0.23%, closing at 97,685.64 aspects, up from Friday’s close of 97,456.62 aspects.

The market’s procuring and selling quantity saw a famous surge, leaping by 14.14% from 412.90 million shares to 471.29 million shares traded on September 17, 2024.

FLOURMILL and FBNH were among the many tip performers of the day, recording spectacular positive aspects that contributed to the market’s total crawl outlook.

FLOURMILL led the gainers, surging by 10.00%, signaling strong investor self belief within the corporate.

On the different hand, ETERNA topped the list of decliners, shedding 10.00% of its share mark. Other famous losers incorporated OANDO, which dropped by 9.94%, and ABBEYBDS, down by 9.88%.

Market Snapshot   

Newest ASI: 97,685.64 aspects

Old ASI: 97,456.62 aspects

Day Change: +0.23%

YTD Efficiency: +30.64%

Volume Traded: 471.29 million objects

Prime 5 Gainers   

FLOURMILL: up 10.00% to N59.95

FBNH: up 10.00% to N31.90

VITAFOAM: up 9.94% to N19.90

CAVERTON: up 9.84% to N2.seventy 9

HONYFLOUR: up 9.82% to N4.92

Prime 5 Losers   

ETERNA: down 10.00% to N27.90

OANDO: down 9.94% to N80.20

ABBEYBDS: down 9.88% to N2.28

TANTALIZER: down 9.86% to N0.64

MECURE: down 9.63% to N8.forty five

Shopping and selling Volume   

The total quantity of shares traded increased significantly to 471.29 million objects up from Friday’s 412.90 million.

JAPAULGOLD led in quantity, procuring and selling 72.26 million shares, followed by TRANSCORP with 51 million shares. FBNH, UBA, and OANDO also recorded vital procuring and selling volumes, with 46.80 million, forty five.62 million, and 16.61 million shares traded, respectively.

Shopping and selling Price

When it comes to procuring and selling mark, FBNH led the market with N1.forty five billion in transactions, followed closely by OANDO at N1.36 billion.

GEREGU, UBA, and TRANSCOHOT also contributed significantly, with N1.13 billion, N1.09 billion, and N609.73 million, respectively, indicating strong investor project in these stocks.

SWOOT and FUGAZ Update   

Huge-cap stocks, including Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Energy, Seplat Energy, and Transcorp Energy, demonstrated stability in nowadays’s procuring and selling session.

The banking sector also saw crawl actions, with FBNH surging 10.00%, whereas UBA and GTCO rose by 2.32% and 1.96%, respectively.

However, no longer all banking stocks fared correctly—ACCESSCORP and ZENITH recorded losses, down by 0.78% and 3.42%, respectively.

Outlook   

The Nigerian stock market remains in a correction phase, steadily getting greater from the retracement that began in April and saw the index fall to a low of 96,580 aspects in August.

With basically the latest surge in procuring and selling quantity and sustained bullish sentiment, extra crawl mark action is expected within the arrival days.

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