The Nigerian All-Share Index (ASI) closed higher today, gaining 310.13 points as bullish market sentiment reversed Wednesday’s losses, with First Bank and Nestle among the top advancers.
The ASI rose by 0.32%, closing at 97,025.17 points, up from the previous day’s 96,715.04 points, rebounding from a 0.09% decline on Wednesday.
Similarly, market capitalization increased by 0.32%, reaching N55.75 trillion from N55.57 trillion, driven by strong performances from stocks like FBNH and NESTLE, both of which posted gains of over 9%.
CAVERTON led the gainers, soaring 10.00%, while DAAR Communications (DAARCOMM) topped the losers’ chart, shedding 8.86%.
Other notable decliners included ETERNA, which fell by 8.14%, and Universal Insurance (UNIVINSURE), down by 7.69%.
A total of 9,615 deals were recorded, an increase from the 9,546 transactions reported the previous day.
Despite the market’s positive movement, trading volume declined to 390.55 million shares, compared to 600.04 million shares on Wednesday.
Access Holdings (ACCESSCORP) led the volume with 80.04 million shares, followed by FBNH with 51.98 million shares. Other key trades included UBA (31.10 million shares), CAVERTON (23.72 million shares), and ZENITH BANK (19.27 million shares).
Total trade value fell by 9% to N7.97 billion from N8.80 billion recorded on Wednesday. ACCESSCORP topped the value chart with N1.47 billion, followed by FBNH (N1.34 billion), Oando (N811.67 million), and UBA (N745.58 million).
Large-cap stocks like Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transcorp Power held steady, showing resilience in today’s trading.
In the banking sector, FBNH surged 10%, while GTCO and Access Holdings posted gains of 0.44% and 1.63%, respectively. UBA, however, saw a slight decline, dropping by 0.42%, and Zenith Bank remained flat.
The Nigerian All-Share Index is showing signs of steady recovery after minor pullbacks, like Wednesday’s 0.99% decline. As market sentiment strengthens, the index may continue to correct recent losses and push higher in the coming sessions.