Transactions on the trading floor of the Nigerian Exchange witnessed a modest uptick yesterday, as the All-Share Index (ASI) inched up by a 3 basis points to close at 98,255.72 points. Despite encountering sell pressures in key stocks such as AIRTELAFRI, FBNH, and DANGSUGAR, demand for blue-chip stocks such as ZENITHBANK, UBA, and ACCESSCORP helped to cushion the impact, resulting in a marginal increase in the index.
The year-to-date (YTD) return for the ASI saw a slight uptick to 31.40%, reflecting the overall positive performance of the market since the beginning of the year. Additionally, the market capitalization experienced a marginal gain of ₦17.96 billion, closing at ₦55.57 trillion.
A closer analysis of Thursday’s trading activity revealed a notable increase in trade turnover, settling 81.56% higher than the previous session. A total of 676.42 million shares were exchanged, valued at ₦16.66 billion, across 8,415 transactions. Notably, Nigerian Breweries (NB) took the lead in both volume and value, with 300.36 million units traded, totaling ₦6.91 billion.
Despite the marginal gain in the index, market breadth remained flat, indicating an equal number of gainers and losers. LEARNAFRCA emerged as the top gainer, with a 10.00% increase in share price, while PZ led the laggards with a 9.94% decline.
As the trading week draws to a close, market participants are closely monitoring developments and adjusting their investment strategies accordingly. The market’s resilience amidst prevailing challenges underscores investors’ confidence in the long-term prospects of the Nigerian equities market, despite short-term fluctuations.
