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  • Business - Market Data
  • Updated: August 17, 2023

Nigerian Stock Exchange Bounces Back With Positive Trading Sentiment

Nigerian Stock Exchange Bounces Back With Positive Trading S

The Nigerian Stock Exchange (NSE) reversed its poor performance from yesterday, thanks to positive mood observed in today's trading session.

This move resulted in a slight rise of N13 billion in market value, thereby halting the bearish run that had been developing since Monday. 

However, the All-Share Index (ASI) fell 0.47%, confirming a mixed market performance.

The index fell 303.70 points, closing at 64,625.28 points, compared to the previous day's close of 64,928.98 points. 

Additionally, the stock market's Year-to-Date (YtD) return decreased to 26.10% from its previous closing value of 26.69%. 

The NGX All-Share Index (ASI), which measures the performance of the market as a whole, is currently at 64,444.98 points.

The market has shown a great year-to-date rise of +25.75%, despite a slight value fall of -0.27% throughout the day.

An amazing N35.273 trillion is the total market capitalisation. Notably, 320.35 million shares were traded in a significant volume, with a total estimated value of N3.73 billion.

5,176 deals were completed during this busy trading session, demonstrating the lively character of current market activity.

The market environment today provided an exciting picture, with JOHNHOLT standing out as the top performer, having an impressive 10% increase in its share price, completing the session at N1.32 per share.  

Conversely, GUINEAINS' fortunes had the sharpest decrease, with a substantial downturn of 8.57%. 

The FIDELITYBK stock dominated today's trading, dominating both the value and volume categories as an astonishing 80.05 million shares were exchanged in deals for a total of N595.54 million. 

Additionally, there was a noticeable dip in investor activity today as the overall number of transactions fell to 5,176 from 6,213 the day before, a decrease of 1,073 transactions. 

JOHNHOLT, CWG, and PRESTIGE had the best performances of the day, with share prices rising by 10.00%, 9.76%, and 8.33%, respectively, and closing the session at N1.32, N3.60, and N0.52 per share. 

The poorest performers of the day, on the other hand, were GUINEAINS, RTBRISCOE, and CHIPLC, whose share prices fell the most today, by 8.57%, 8.16%, and 7.61%, respectively. 

The market's total value of shares traded fell sharply, from N7.43 billion to N3.73 billion, a loss of 49.80%. 

A rising trend in trading volume was evident in the growth of 9.82% in the number of shares traded, reaching 320.35 million.

The previous session had 291.71 million shares traded, which was more than this. 

The market's most active stock, FIDELITYBK, saw 80.05 million shares traded. UBA was the third most traded stock with 24.40 million shares, followed by TRANSCORP with 34.27 million shares. 

FIDELITYBK, which today registered the greatest total turnover of N595.5 billion, sparked a spike in market interest.

UBA came in third with N340 billion in trade value, followed by FBNH with N353.5 billion in transactions.

The SWOOTs group's ZENITHBANK, GTCO, and UBA all had a fall in share earnings of 0.45%, 0.1%, 0.2%, and 0.05%, respectively, which had an impact on their performance. 

However, despite the market swings that affected other equities, the stock prices of AIRTELAFRICA, MTNN, DANGCEMENT, BUAFOODS, and BUACEMENT remained constant. 

Among the top banks, FBNH was the only organisation to report a positive earnings rise of 0.65%. 

As their shares fell, the other banks, ZENITHBANK, GTCO, UBA, and ACCESSHOLDINGS, each experienced losses of 0.45%, 0.1%, 0.05%, and 0.15%, respectively. 

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