The Nigerian All-Share Index (ASI) continued its positive trend on Tuesday, closing up +181.99 points at 98,568.59, marking a 0.18% increase from the previous close.
Banking stocks, particularly FBNH and FIDELITY, were among the top advancers. Market activity decreased slightly, with a volume of 763 million shares traded compared to 810.42 million on the previous trading day.
NIDF emerged as the top performer, surging 10%, followed closely by FBNH, which also rose by 10%. On the downside, OANDO was the top loser, falling 10%, while OKOMU OIL and CAVERTON declined by 9.98% and 9.88%, respectively.
Market Snapshot
- Current ASI: 98,568.59 points
- Previous ASI: 98,386.00 points
- Day Change: +0.18%
- Year-to-Date Performance: +31.76%
- Volume Traded: 763.00 million shares
Top 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
Top 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 N17.45
Trading Volume
The volume for the day reached N763.00 million shares, marking a decline from the 810.42 million shares reported on Friday.
FIDELITY emerged as the frontrunner in trading volume, with 126.09 million shares exchanged. TRANSCORP closely followed, trading 103.4 million shares.
Other notable transactions included UBA with 73.54 million shares, CAVERTON at 43.67 million shares, and ELLAHLAKES, which saw 42.14 million shares change hands.
Trading Value
In terms of trading value, FIDELITYBK also was at the top, amassing N2.08 billion in transactions.
UBA was not far behind, contributing N1.8 billion to the total trading value.
OANDO, FBNH, and TRANSCORP also recorded significant trading values of N1.4 billion, N1.16 billion, and N749 million, respectively.
SWOOT and FUGAZ Update
- Large-cap stocks such as Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transcorp Power exhibited stability in their performance.
- However, Oando experienced a notable decline, dropping by 10.00%.
- In the banking sector, FBNH surged 10.00%, making it the top-performing stock within the FUGAZ banking group.
- UBA also saw a respectable increase of 4.53%. Meanwhile, GTCO, ACCESSCORP, and ZENITHBANK recorded modest gains of 0.21%, 1.84%, and 0.27%, respectively.
OUTLOOK
The index is showing a bullish trend, amid the resurgence in banking stocks that were previously undergoing a correction.
As a result, the All-Share Index is expected to rise more in the coming weeks eyeing 100,000 points.
