Monday, September 8, 2025
25.4 C
Lagos

Equities Market Records 1st Positive Performance in H2:2018… NSE ASI up 0.7%

The domestic bourse halted a three consecutive day bearish run yesterday as renewed buy interest in market bellwethers buoyed the NSE All Share Index (ASI) 0.7% to 37,743.22 points while YTD loss moderated to 1.3%. Gains in DANGCEM (+2.2%), NIGERIAN BREWERIES (+1.8%) and DANGSUGAR (+3.5%) pushed the benchmark index higher for the first time in H2:2018. Accordingly, investors gained N88.4bn as market capitalisation rose to N13.7tn.

Similarly, activity level increased as volume and value traded surged 30.2% and 146.8% to 497.1m units and N5.9bn respectively. The top traded stocks by volume were UBA (294.9m), ZENITH (38.3m) and ACCESS (34.4m) while UBA (N3.1bn), ZENITH (N930.7m) and GUARANTY (N546.1m) were the top traded stocks by value.

Mixed Sector Performance
Across sectors, performance was mixed as 3 of 5 indices closed in the green.

The Industrial Goods index emerged top performer, up 1.3% as a result of buy interest in DANGCEM (+2.2%) and CCNN (+4.7%).

Likewise, the Banking and Consumer Goods indices rose 0.3% and 0.2% respectively following gains in UBN (+1.7%), STERLING (+5.7%),NIGERIAN BREWERIES (+1.8%) and DANGSUGAR (+3.5%). On the flipside, the Insurance and Oil & Gas indices declined 1.3% and 0.9% respectively due to sell-offs in MBENEFIT (-5.1%), AIICO (-1.5) and MOBIL (-7.9%).

Investor Sentiment Strengthens
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 1.2x from 0.9x recorded in the preceding session as 23 stocks advanced relative to 20 that declined.

The top performing stocks were MULTIVERSE (+10.0%), HMARKINS (+9.7%) and JAPAULOIL (+8.3%) while CAPOIL (-9.1%), NEM (-8.8%) and CHAMPION (-8.0%) were the worst performers.

Following a rebound in market performance today, we expect bargain hunting to further boost the benchmark index tomorrow as investor sentiment stays upbeat.

spot_img
spot_img

Hot this week

Nigeria, Brazil Central Banks Deepen Economic, Financial Co-operation

Nigeria’s Central Bank Governor, Olayemi Cardoso, has held talks...

Ecobank Nigeria to Host Second Edition of Design & Build, Showcasing Premier Innovators in Design, Construction

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

Expert: Fintech, Financial Inclusion Critical for Sustainable Growth of Nigerian Economy

A renowned economist, Dr. Biodun Adedipe, the Chief Consultant/CEO,...

Sterling Bank Marks One Year of Africa’s Groundbreaking Core Banking System

Number one Best Workplace in Banking in Nigeria and...

Topics

Access, GT, UBA, FCMB, Fidelity Bank Fined N1.4bn by CBN

Herbert Wigwe Group Managing Director/CEO Access Bank Plc Access Bank Plc, UBA...

First Bank, FSDH Merchant Bank Reap $35Om ADB Loan

The Board of Directors of the African Development Bank...

VICTORY Letter to SEPP BLATTER

The $10m Bribe Scandal "I have been reflecting deeply about my presidency and about the 40 years in which my life has been inextricably bound to FIFA and the great sport of football. I cherish FIFA more than anything and I want to do only what is best for FIFA and for football. It is my deep care for FIFA and its interests, which I hold very dear, that has led me to take this decision," he said. I would like to thank those who have always supported me in a constructive and loyal manner as president of FIFA and who have done so much for the game that we all love. What matters to me more than anything is that when all of this is over, football is the winner.” Click here to make a lazy tweet.

ADVISORY SERIES: How to Switch Your Career to a Tech...

NAICOM, CIIN Partner on Key Market Initiatives

The Commissioner for Insurance (CFI) hosted the Council of...

Richard Branson May Sell Virgin America

Billionaire businessman, Richard Branson is considering the possibility of...

The $200 Billion Quest for Reliable Electricity in Nigeria

By Elvis Eromosele Nigeria is an energy starved nation. Imagine...

WHO WANTS TO BUY 9MOBILE?

Troubled telco, 9Mobile failed to attract a buyer at...
spot_img

Related Articles

Popular Categories

spot_imgspot_img