The Nigerian All-Share Index (ASI) improved by 158.44 points to close at 97,418.83, marking a successful trading session.
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Despite a sharp drop in trading volume, this upward movement propelled the market capitalization to an astounding N59.03 trillion, representing a 0.16% gain for the trading day that concluded on November 13, 2024.
With total volumes falling by a significant 29% from 350 million shares in the previous session to 247 million shares moved across 8,305 deals, the day’s activity demonstrated muted trading momentum.
Even though there was less activity, the gainers’ chart showed some impressive performances. INTENEGINS stood out as the top gainer, rising 10.00%. With impressive increases of 9.98% and 9.88%, respectively, JOHN HOLT and EUNISELL followed closely behind, indicating strong investor sentiment in these equities.
The decliners’ board, on the other hand, was led by REGALINS, which lost up to 10.00%, and DAARCOMM, which fell 7.46%, resulting in significant session losses.
The most frequently traded stocks of the day were ACCESSCORP and UBA, which controlled trading volumes.
Market Summary
Current ASI: 97,418.83 points
Previous ASI: 97,260.39 points
Day Change: +0.16%
Year-to-Date Performance: +30.28%
Volume Traded: 247 million shares
Deals: 8,305
Top 5 Gainers
- INTENEGINS: up 10.00% to N1.32
- JOHNHOLT: up 9.98% to N6.39
- EUNISELL: up 9.88% to N10.90
- THOMASWY: up 9.71% to N1.92
- UPL: up 9.09% to N3.60
Top 5 Losers
- REGALINS: down 10.00% to N0.45
- DAARCOMM: down 7.46% to N0.62
- SOVRENINS: down 6.35% to N0.59
- NEM: down 5.88% to N8.00
- UNIVINSURE: down 5.88% to N0.32
Volume of trades
With a 29% decrease in daily trading volume, the market saw a pause in trading activity. Compared to the 350 million shares that were moved during the previous session, a total of 247 million shares were transacted.
With 40 million shares moved, ACCESSCORP became the most actively traded stock, drawing attention.
FIDELITYBK, UCAP, and GTCO finished the top five with volumes of 21.2 million, 16.2 million, and 14.7 million shares, respectively, while UBA came in second with 23.7 million shares.
Value of trade
With transactions valued at N1.6 billion and N979.5 million, respectively, ARADEL and ACCESSCORP were the two most valuable companies.
With trade values of N794.4 million and N761.2 million, respectively, GTCO and UBA also made noteworthy contributions.
With trades of N462.3 million, OANDO completed the top five, indicating significant investor interest.
FUGAZ and SWOOT stocks
Only SEPLAT and OANDO moved among the SWOOT group, which includes equities worth more than one trillion naira. While other SWOOT stocks held steady, both ended the day lower, losing 1.06% and 0.08%, respectively.
Conversely, the FUGAZ stocks – which include FBNH, UBA, GTCO, ACCESSCORP, and ZENITH BANK – performed well.
With UBA and ACCESSCORP topping the gains at 2.70% apiece, all closed above their opening levels.
GTCO and FBNH increased 1.03% and 0.18%, respectively, while ZENITH BANK followed closely behind with an appreciation of 2.38%.
Outlook for the market
In the upcoming sessions, the All-Share Index may surpass the 98,000 level if the banking industry’s strong momentum continues.
The market’s bullish trajectory may be supported by the ongoing rise, which was driven by positive investor mood and strong Q3 financial reports across a number of sectors.
