Nigerian Stock Market Opens September Bullish

Nigerian equities market began the first trading day in September 2023 bullish as Investors sustain confidence in the market.

The All-Share Index (ASI) traded 1.47% higher to close at 67,527.19 index points as against 66,548.99 index points recorded in the previous day’s trading session.

Likewise, the market capitalization of equities saw a gain of N535 billion to close at N36.958 trillion, 1.47% higher than the N36.423 trillion recorded in the previous trading session.

Market breadth closed positive as TANTALIZER (10.00%) led gainers, PRESTIGE (-10.00%) led losers while TRANSCORP was the most traded equity – by volume – at the end of today’s session.

Equities Market Extends Gains By N157bn

Trading volume was 18.88% lower than the previous day’s session as 503.75 million units of shares were traded in 7,606 deal, valued at N6.91 billion.

TANTALIZER, DANGOTE SUGAR and LASACO led the top gainer’s chart as they all gained +10.00% each.

Meanwhile, PRESTIGE, GLAXOSMITH and HONEY FLOUR led the top losers’ chart as they lost –8.70%, -6.47%, and –5.88% respectively.

There was lower trading activity in terms of volume as 503.75 million units of shares were traded today compared to the 620.98 million traded from the previous day’s session.

TRANSCORP led the chart in terms of volume as 83.31 million units were traded. FIDELITY BANK (58.33 million) and ACCESS HOLDINGS (34.54 million) rounded up the top 3 traded stocks for today.

In terms of value traded, ACCESS HOLDINGS (N588.16 million) led the chart followed by TRANSCORP (N541.81 million) and FIDELITY BANK (N449.24 million) to round up the top three.

Shares of stocks worth over one trillion (swoot) saw mixed results as DANGOTE CEMENT (2.72%), GTCO (3.54%) and ZENITH BANK (4.56%) recorded positive trading sessions.

While MTN NIGERIA (-0.04%) closed negative as BUA FOODS, BUA CEMENT, and AIRTEL AFRICA all closed flat.

Shares of tier 1 banks all saw positive trading sessions as GTCO (3.54%), UBA (6.43%), ACCESS HOLDINGS (3.61%), ZENITH BANK (4.56%) and FBN HOLDINGS (9.52%) gained.