…the ASI year-to-date return increased to 29.45%, while the market capitalization gained N23.45 billion to close at N55.60 trillion
MON SEPT 02 2024-theGBJournal| The Nigerian equities market closed 0.22% higher, as the benchmark index topped 96,793.95 points on the first trading day in September.
Investors interest in GTCO (+0.22%), ZENITHBANK (+1.96%), and UBA (+6.54%) outweighed losses in FBNH (-0.44%), DANGSUGAR (-0.13%) and NB (-2.83%).
As a result, the ASI year-to-date return increased to 29.45%, while the market capitalization gained N23.45 billion to close at N55.60 trillion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 65.05%. A total of 498.12m shares valued at N11.04 billion were exchanged in 13,149 deals.
UBA led the volume chart with 54.85 million units traded, while OANDO (+9.95%) led the value chart in deals worth N3.20 billion
Market breadth closed flat. OANDO (+10.00%) topped twenty-seven others on the leader’s log, while LIVESTOCK (-10.00%) led twenty-seven others on the laggard’s table.
The market positive performance builds from 63bps week-on-week gain from last week when the year-to-date return advanced to 29.16% while the market capitalisation gained N348.35 billion to close at N55.48 trillion.
Last weeks recovery was spurred by renewed demand in FBN Holdings (+10.57% w/w), Stanbic IBTC Holdings (+4.79% w/w), Eco Transnational Inc. (+6.60% w/w), Oando (+60.71% w/w), and Total Energies (+19.70% w/w) offsetting selling pressure in MTN Nigeria (- 9.91% w/w), Guaranty Trust Holding (-0.22% w/w) and Access Holdings (-4.76% w/w).
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