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NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% - Business - Nairaland

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NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by deji17: 6:45pm On Oct 06, 2020
Business & Economy

Updated: October 6, 2020
NSE ASI hit its highest single-day upside in 7 years at 4.92%


By Bolaji Samuel
October 6, 2020


Bulls on Nigeria Stock Exchange held on to gains today, as the benchmark index, NSE ASI hit its highest single-day upside in 7 years at 4.92% as year-to-date return settled at 7.70%, 28,909.37 points. Performance in the market was driven by strong bullish investor sentiment across the board.
Tier-1 banks received the most attention – ZENITHBA NL (+9.47% to N20.80), UBA NL (+9.30% to N7.05), FBNH NL (+9.91% to N6.10), and ACCESS NL (+9.15% to N7.75) as GUARANTY NL returned 6.06% to close at N31.50. STANBIC NL also gained 4.95% to close at N42.50. In the same vain, telcos, cement tickers and consumer goods stocks were also caught in the frenzy mood.

Volume and value traded were 24,09% and 27.88% higher to 749.41 million units and N9.49 billion, respectively. The most traded stocks by volume were ZENITHBA NL (135.69 million units), UBA NL (112.88 million units) and FBNH NL (88.91 million units) while ZENITHBA NL (N2.77 billion), GUARANTY NL (N1.22 billion) and UBA NL (N768.18 million) topped the value chart.

All sub-indices closed in positive territory (Banking, Consumer Goods, Industrial, Oil & Gas, and Insurance sub-indices by 748bps, 295bps, 564bps, 115bps, and 26bps respectively)


Market sentiment was positive as market breadth came in at 5.6x as there were 45 advancers and 8 decliners.


Comercio Partners Research

https://brandspurng.com/2020/10/06/nse-asi-hit-its-highest-single-day-upside-in-7-years-at-4-92/

4 Likes 1 Share

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by deji17: 11:34pm On Oct 06, 2020
This is impressive.

2 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Kingjay007: 6:23am On Oct 07, 2020
Good.. not impressive actually but at least there is a glimmer of hope.

4 Likes 1 Share

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by henry4991(m): 6:23am On Oct 07, 2020
None of my Business
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by anonimi: 6:24am On Oct 07, 2020
deji17:
This is impressive.

How low had it gone before this sudden rise?
Do you know that before saying impressive?
Don't you need to know that so you understand the trend?

7 Likes 1 Share

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by anonimi: 6:25am On Oct 07, 2020
henry4991:
None of my Business


anonimi:

4 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by chiedonedoor(m): 6:27am On Oct 07, 2020
Impressive in deed.
Acts 4:12 KJV
Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved. Christ is coming soon.repent to avoid HELL

8 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by iamyemiakins(m): 6:28am On Oct 07, 2020
This news get as e be
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Preshy01(f): 6:31am On Oct 07, 2020
That's if it won't drop again before the end of today
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Ahmed0336(m): 6:35am On Oct 07, 2020
Economists please help me out here, I know nothing about this stock exchange thang.

please how will this affect my life positively?

thanks in advance
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Cryptofxt10: 6:37am On Oct 07, 2020
Lolx
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by donPhill(m): 6:38am On Oct 07, 2020
Me am just thinking how a thousand Naira from those billions will be transferred to my account... local man is broke!


I NEED A JOB PLS

2 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by longsnake(m): 6:48am On Oct 07, 2020
grin
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Enudapan: 6:48am On Oct 07, 2020
Nah eh! No qualms
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by owolabi5: 6:55am On Oct 07, 2020
Car Papers
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by jamiudinho(m): 6:56am On Oct 07, 2020
anonimi:

How low had it gone before this sudden rise? Do you know that before saying impressive? Don't you need to know that so you understand the trend?
an anti government noted

3 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by TSBO: 6:56am On Oct 07, 2020
The low interest rate environment is really the catalyst; but something had to eventually give, considering how broadly undervalued the market has been for some time. The hope is however that this low interest environment does not end up building asset bubbles all over the place as investors seek yield at any cost.

Massive (infrastructure and real sector) investment drive is urgently needed to soak up excess liquidity at low yields for future economic growth. This is, of course, provided we can reasonably tame corruption and ensure we get true value for money. Otherwise, we will just end up permanently destroying investors' wealth.

Imagine lending Naira to the Nigerian government for 30 years at sub-10% per annum, only for the money to be mismanaged.. The scenario and its consequences do not offer a pretty sight at all.

4 Likes 1 Share

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by jamiudinho(m): 6:57am On Oct 07, 2020
donPhill:
Me am just thinking how a thousand Naira from those billions will be transferred to my account... local man is broke!


I NEED A JOB PLS
can u work in a factory in Lagos for 50k
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by anonimi: 7:00am On Oct 07, 2020
jamiudinho:
an anti government noted

Is that why you can't answer simple questions?
Are you also an illiterate dullard like the incompetent chap in Aso Rock?


anonimi:
www.nairaland.com/attachments/2026486_buharinoschool_jpeg7b091b4b2030902d513c2f395f96a19d

3 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by freshmann: 7:25am On Oct 07, 2020
This is goodnews. Things maybe gradually getting to normal

2 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Starboytwo(m): 7:36am On Oct 07, 2020
I no sabi maths
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Rgade: 7:40am On Oct 07, 2020
deji17:
This is impressive.
Marginal in the larger scheme.
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Miyachi: 7:46am On Oct 07, 2020
New money coming in.

1 Like

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by studentofTruth: 7:47am On Oct 07, 2020
The usual pump and dump scenario. NSE and pump and dump are like 5&6, more like penny stocks.

1 Like

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Gokoyer0(m): 7:48am On Oct 07, 2020
Inbox me with your acct details so that I can send you something.
donPhill:
Me am just thinking how a thousand Naira from those billions will be transferred to my account... local man is broke!


I NEED A JOB PLS

2 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by drLammy(m): 7:56am On Oct 07, 2020
Na NSE dey hot now grin

Btw, they experienced the lowest low the same year too... So it's time for harvesting

1 Like

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by UCyril: 7:57am On Oct 07, 2020
Any hope for Insurance shares going up? especially Niger insurance company

1 Like

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by abbasajao(m): 7:59am On Oct 07, 2020
jamiudinho:

can u work in a factory in Lagos for 50k

Can you assist someone I know with this?
Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Nobody: 8:08am On Oct 07, 2020
Commendable..

My friend sold the Nigerian investment climate in his last book. "Grow Rich under Recession" published 5th October, 2020.

Amazon Kindle Books

1 Like

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by Localemperor: 8:09am On Oct 07, 2020
As long UBA continues to gain, its a welcome development!!

2 Likes

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by anonimi: 8:13am On Oct 07, 2020

1 Like

Re: NSE ASI Records Its Highest Single-Day Rise In 7 Years At 4.92% by donPhill(m): 9:10am On Oct 07, 2020
Gokoyer0:
Inbox me with your acct details so that I can send you something.
thank you bro... just sent a mail

(1) (2) (Reply)

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