Sunday, August 31, 2025
24.1 C
Lagos

Post-Election Trading Begins on a Positive Note… ASI up 57bps

As investors await the results of the 2019 presidential elections, the domestic bourse experienced mild bargain hunting in bellwethers –NIGERIAN BREWERIES (+4.0%), ZENITH (+1.0%) and DANGCEM (+0.1%).

This drove the All Share Index (ASI) 57bps higher to 32,700.12 points, YTD gain inched to 4.0% while market capitalisation improved slightly by N68.8bn to settle at N12.2tn. Activity level was however mixed as volume traded decreased 0.4% to 219.7m units while value traded increased 147.7% to N5.5bn.

NIGERIAN BREWERIES (42.7m units), DIAMOND (30.8m units) and ACCESS (20.7m units) led the top trades by volume while by value NIGERIAN BREWERIES (N3.6bn), GUARANTY (N733.9m) and ZENITH (N337.0m) led.

Bullish Sector Performance
Across sectors, performance was bullish as all indices under our coverage trended northward. The Consumer Goods index led gainers, up 1.3% on the back of buying interests in NIGERIAN BREWERIES (+4.0%) and DANGFLOUR (+10.0%).

The Insurance and Banking indices trailed appreciating 1.1% and 0.8% due to gains in NEM (+3.4%), SOVRENINS (+8.7%), ZENITH (+1.0%) and UBA (+2.5%). In the same vein, the Oil & Gas index advanced 0.1% as MOBIL (+1.1%) and OANDO (+1.5%) closed in the green.

Lastly, the Industrial Goods index closed flat with a bullish bias as investors took advantage of bargain opportunities in DANGCEM (+0.1%) towards the end of yesterday’s session.

Investor Sentiment Strengthens
Investor sentiment as measured by the market breadth (advance/decline ratio) strengthened to 3.1x from 1.2x recorded the prior Friday as 25 stocks advanced against 8 decliners.

The top performers today were DANGFLOUR (+10.0%), ABCTRANS (+9.6%) and VERITASKAP (+9.5%) while UNIONDAC (-6.5%), TOTAL (-2.6%) and CUTIX (-1.6%) led laggards.

We observed cautious trading in yesterday’s trading session as investors await the results of the 2019 presidential elections. We expect market direction this week to be largely determined by the outcome of the election.

spot_img
spot_img

Hot this week

Inspenonline Unveils Think-tank on NIIRA, Insurance Sector Recapitalisation

As the insurance sector witnesses a new dawn with...

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, Lasaco Throw Weight Behind IMT 4.0

The fourth edition of Insurance Meets Tech (IMT 4.0)...

NCDMB, Coppercrux Engage South-South Youths on CNG Technologies, Opportunities in Value Chains

The Nigerian Content Development and Monitoring Board (NCDMB), in...

Fidelity Bank Champions Africa’s Export Growth at FNITCC Atlanta 2025

Leading financial institution, Fidelity Bank Plc has announced plans...

NAICOM, CAC Partner for 12- Month Recapitalisation Timeline

The Management of the National Insurance Commission (NAICOM) paid...

Topics

NIPR, P+ Measurement Partner on Media Monitoring

Clockwise: General Secretary, Lagos State Chapter, Nigerian Institute of...

148 Nigerians Win ₦23m in Stanbic IBTC’s Reward4Saving Season 4 Promo

Stanbic IBTC Bank has successfully enhanced the financial well-being...

AMCON: We Took Over Arik Due to N146bn Debt

Mr. Ahmed Kuru, Managing Director of Assets Management Corporation...

Market Statistics: Wednesday, 1st November 2017

Market Cap (N'bn)               12,766.6 Market...

Pension Assets Hit N7.7tr in Feb 2018

Hajia Aisha Dahir-Umar Acting DG PenCom The National Pension Commission (PenCom) says...

Impact Investors Annual Awards to Celebrate Social Impact Heroes

The Impact Investors Foundation, Nigeria’s leading platform for unlocking impact...

CIIN: Nigerians Should Embrace Fitness Exercises to Stay Healthy, Productive

Mr. Edwin Igbiti, President/Chairman of Council, Chartered Insurance Institute...

AT&T Takes $10bn Hit to Pension Fund

­AT&T has announced that it is taking a US$10...
spot_img

Related Articles

Popular Categories

spot_imgspot_img