The Nigerian All-Share Index (ASI) kept going up, ending Wednesday’s trading day with a 0.56% increase, thanks to a strong positive feeling in the market.
The ASI surged by 545.28 points to end the day at 98,230.92 points after a rise of 0.23% the previous day. In the same vein, market capitalization reached N56.44 trillion.
In spite of the increase in the index there was a decrease in trading volume recorded at around 23% or 361.30 million shares in contrast to an equivalent figure of 471 million shares exchanged during the previous session.
Leading the advancers’ pack was SFS Real Estate Investment Trust (SFSREIT), which gained by 9.99% to close at N179.45, ahead of Honeywell Flour Mills (HONYFLOUR) that added up 9.96% to close at N5.41.
NN Food and Mills (NNFM) on its part was the worst hit stock, plunging by 10.00% to close at N39.15 while Berger Paints (BERGER) lost 9.81% to close at N21.60 on the losers’ table.
Analysts at Cowry Asset Management had expected deals numbering 9,627 but were only able to settle 9,624 transactions yesterday.
Market Performance outlook:
- ASI: 98,230.92 points (+0.56%)
- Market Capitalisation: N56.44 trillion
- Trading Volume: 361.30 million (down 23%)
- No of Deals: 9,627
- Top Gainers: SFSREIT (+9.99%), HONYFLOUR (+9.96%)
- Top Losers: NNFM (-10.00%), BERGER (-9.81%)
Sector Performance
There was remarkable growth in the banking sector as both FBN Holdings (FBNH) and Access Bank (ACCESSCORP) saw their prices increase by 6.27% and 2.09% correspondingly.
Geregu Power (GEREGU) went up by 9.52% while Oando (OANDO) equaled 6.05%.
