The Nigerian All-Share Index (ASI) extended its positive trajectory in another trading session, gaining 229.02 points as positive sentiment continued to fuel market activity.
All-Share rose by 0.23%, closing at 97,685.64 points, up from Friday’s close of 97,456.62 points.
The market’s trading volume saw a notable surge, jumping by 14.14% from 412.90 million shares to 471.29 million shares traded on September 17, 2024.
FLOURMILL and FBNH were among the top performers of the day, recording impressive gains that contributed to the market’s overall positive outlook.
FLOURMILL led the gainers, surging by 10.00%, signaling strong investor confidence in the company.
On the other hand, ETERNA topped the list of decliners, shedding 10.00% of its share price. Other notable losers included OANDO, which dropped by 9.94%, and ABBEYBDS, down by 9.88%.
Market Snapshot
Current ASI: 97,685.64 points
Previous ASI: 97,456.62 points
Day Change: +0.23%
YTD Performance: +30.64%
Volume Traded: 471.29 million units
Top 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
Top 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 N8.45
Trading Volume
The total volume of shares traded increased significantly to 471.29 million units up from Friday’s 412.90 million.
JAPAULGOLD led in volume, trading 72.26 million shares, followed by TRANSCORP with 51 million shares. FBNH, UBA, and OANDO also recorded significant trading volumes, with 46.80 million, 45.62 million, and 16.61 million shares traded, respectively.
Trading Value
In terms of trading value, FBNH led the market with N1.45 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 activity in these stocks.
SWOOT and FUGAZ Update
Large-cap stocks, including Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transcorp Power, demonstrated stability in today’s trading session.
The banking sector also saw positive movements, with FBNH surging 10.00%, while UBA and GTCO rose by 2.32% and 1.96%, respectively.
However, not all banking stocks fared well—ACCESSCORP and ZENITH recorded losses, down by 0.78% and 3.42%, respectively.
Outlook
The Nigerian stock market remains in a correction phase, gradually recovering from the retracement that began in April and saw the index fall to a low of 96,580 points in August.
With the recent surge in trading volume and sustained bullish sentiment, further positive price action is expected in the coming days.