Tier-1 banks pushes NGX ASI by 0.44%

The domestic bourse continued its winning streak, with the All-Share Index opening at 98,383.04 and gaining 0.44 per cent or 435 points to close at 98,818.04.

This increase contributed to the market capitalisation rising by N246 billion or 0.44 per cent to close at N55.899 trillion compared to N55.653 trillion recorded on Tuesday.

The Year-To-Date (YTD) return to 32.16 per cent.

The sustained demand for Tier-One banking stocks such as Guaranty Trust Holding Company (GTCO), Zenith Bank, FBN Holdings, along with International Breweries, Dangote Sugar, and Oando Plc, among others, kept the market in the green.

The market breadth remained positive with 31 gainers and 15 losers.

Abbey Mortgage Bank led the gainers’ chart with a 9.66 per cent increase to close at N2.70 per share.

National Salt Company of Nigeria (NASCON) followed with a similar percentage increase, closing at N40.85 per share.

FCMB gained 9.63 per cent to close at N7.40, International Breweries advanced by 9.59 per cent to close at four Naira.

Also, Dangote Sugar grew by 9.56 per cent to close at N47 per share.

On the flip side, International Energy Insurance led the losers’ chart with a 9.68 per cent decrease to close at N1.40 per share.

Jaiz Bank trailed with a 6.52 per cent decline to close at N2.15 per share.

Tantalizer lost six per cent to close at 47k, Nigerian Police Force Microfinance Bank declined by 5.88 per cent to close at N1.60 per share.

Fidson Healthcare Plc went down by 5.40 per cent to close at N14.90 per share.

Trade turnover settled lower relative to the previous session, with the value of transactions down by 27.60 per cent.

A total of 518.95 million shares valued at N4.77 billion were exchanged in 7,781 deals, compared to 559.61 million shares valued at N6.58 billion exchanged in 7,990 deals on Tuesday.

Abbey Mortgage Bank led the volume chart for the second time with 230.35 million shares valued at N621.91 million.

Access Corporation followed with 80.99 million shares worth 1.39 billion, while United Bank For Africa (UBA) traded 23.90 million shares valued at N541.69 million.

FCMB also transacted 18.66 million shares worth N133.16 million, while Fidelity Bank sold 16.38 million shares valued at N154.84 million.