By NIyi Jacobs
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 were among the top advancers, with FBNH and FIDELITY leading the charge.
FBNH surged 10% to close at ₦28.20, while FIDELITY rose 9.70% to ₦14.95. Other banking stocks, such as UBA, GTCO, ACCESSCORP, and ZENITHBANK, also recorded modest gains.
The banking sector’s performance was a major contributor to the overall market’s positive trend. The sector’s resurgence is a welcome development, as it had previously been undergoing a correction.
The market’s bullish trend is expected to continue, with the All-Share Index eyeing 100,000 points. The banking stocks’ performance is a significant factor in this outlook, as they are a major component of the index.
Top 5 Gainers:
- NIDF: up 10.00% to ₦101.16
- FBNH: up 10.00% to ₦28.20
- ELLAHLAKES: up 9.76% to ₦3.38
- FIDELITYBK: up 9.70% to ₦14.95
- ABCTRANS: up 9.52% to ₦1.05
Top 5 Losers:
- OANDO: down 10.00% to ₦80.00
- OKOMUOIL: down 9.98% to ₦417.70
- CAVERTON: down 9.88% to ₦4.05
- MULTIVERSE: down 9.82% to ₦11.20
- FIDSON: down 9.74% to ₦17.45
Trading Volume:
- FIDELITY: 126.09 million shares
- TRANSCORP: 103.4 million shares
- UBA: 73.54 million shares
- CAVERTON: 43.67 million shares
- ELLAHLAKES: 42.14 million shares
Trading Value:
- FID
