The Nigerian All-Fragment Index (ASI) prolonged its sure trajectory in one other shopping and selling session, gaining 229.02 functions as sure sentiment continued to fuel market activity.
All-Fragment rose by 0.23%, closing at 97,685.64 functions, up from Friday’s shut of 97,456.62 functions.
The market’s shopping and selling volume saw a considerable surge, leaping by 14.14% from 412.90 million shares to 471.29 million shares traded on September 17, 2024.
FLOURMILL and FBNH had been amongst the stay performers of the day, recording impressive positive aspects that contributed to the market’s total sure outlook.
FLOURMILL led the gainers, surging by 10.00%, signaling sturdy investor self perception in the firm.
On the assorted hand, ETERNA topped the record of decliners, shedding 10.00% of its portion note. Diversified considerable losers included OANDO, which dropped by 9.94%, and ABBEYBDS, down by 9.88%.
Market Snapshot
Present ASI: 97,685.64 functions
Previous ASI: 97,456.62 functions
Day Commerce: +0.23%
YTD Performance: +30.64%
Quantity Traded: 471.29 million devices
High 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 N2.79
HONYFLOUR: up 9.82% to N4.92
High 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
Buying and selling Quantity
The full volume of shares traded elevated enormously to 471.29 million devices up from Friday’s 412.90 million.
JAPAULGOLD led in volume, shopping and selling 72.26 million shares, adopted by TRANSCORP with 51 million shares. FBNH, UBA, and OANDO additionally recorded vital shopping and selling volumes, with 46.80 million, Forty five.62 million, and 16.61 million shares traded, respectively.
Buying and selling Mark
In phrases of shopping and selling note, FBNH led the market with N1.Forty five billion in transactions, adopted closely by OANDO at N1.36 billion.
GEREGU, UBA, and TRANSCOHOT additionally contributed enormously, with N1.13 billion, N1.09 billion, and N609.73 million, respectively, indicating sturdy investor activity in these stocks.
SWOOT and FUGAZ Update
Sizable-cap stocks, alongside side Airtel Africa, BUA Cement, BUA Meals, Dangote Cement, Geregu Energy, Seplat Vitality, and Transcorp Energy, demonstrated steadiness in as of late’s shopping and selling session.
The banking sector additionally saw sure actions, with FBNH surging 10.00%, whereas UBA and GTCO rose by 2.32% and 1.96%, respectively.
Nonetheless, no longer all banking stocks fared smartly—ACCESSCORP and ZENITH recorded losses, down by 0.78% and 3.42%, respectively.
Outlook
The Nigerian inventory market stays in a correction section, step by step convalescing from the retracement that started in April and saw the index tumble to a low of 96,580 functions in August.
With the hot surge in shopping and selling volume and sustained bullish sentiment, additional sure note motion is expected in the arrival days.
