On March 4, 2024, the Nigerian All Share Index ended the trading session lower than it started, falling 550.88 points to close at 106,904.25.
Despite strong trading activity, this represents a 0.51% decline from the closing price of 107,455.13 the day before.
From 308 million shares exchanged the day before, the daily trading volume increased to 395.4 billion.
Additionally, market capitalisation declined, falling from the previously reported N67.2 trillion to N66.9 trillion.
UHOMREIT and NEM Insurance were the top gainers, with remarkable gains of 9.95% and 8.78%, respectively.
On the other hand, the top five losers—GUINEAINS, DANGSUGAR, DEAPCAP, ETERNA, and TRANSCORP—all saw a notable 10.00% drop.
UCAP and ELLAHLAKES were the leaders in terms of trading volume, contributing significantly to the market’s overall activity.
Market Summary
- Current ASI: 106,904.25 points
- Previous ASI: 107,455.13 points
- Day Change: -0.51%
- Year-to-Date Performance: +3.86%
- Volume Traded: 395.4 million shares
- Market Cap: N66.9 trillion
Top 5 Gainers
- UHOMREIT: +9.94% to N48.65
- NEM: +8.78% to N14.25
- IKEJAHOTEL: +8.72% to N11.85
- CONHALLPLC: +6.76% to N3.95
- LIVESTOCK: +4.53% to N7.85
Top 5 Losers
- GUINEAINS: -10.00% to N0.63
- DANGSUGAR: -10.00% to N36.00
- DEAPCAP: -10.00% to N0.90
- ETERNA: -10.00% to N37.80
- TRANSCORP: -10.00% to N51.30
Volume of trades
Compared to the 308 million shares traded the day before, the daily trading volume increased to 395.4 billion.
- With 40.5 million shares moved, UCAP led the trading activity, closely followed by ELLAHLAKES with 26.1 million shares.
- With 25.6 million shares traded, ZENITHBANK also had a strong showing.
- In the meantime, UNIVINSURE and ACCESSCORP contributed 22 million and 18.1 million shares, respectively, to the total trading volume.
Value of trade
With transactions of N1.2 billion, ZENITHBANK was the best performer in terms of trading value.
- GTCO came next, adding N818.4 million to the daily total.
- UBA completed the trade figures with N545.9 million, while UCAP and ARADEL contributed N732.7 million and N549.5 million, respectively.
Performance of FUGAZ and SWOOT
In the SWOOT categories, ARADEL rose 0.73%, and OANDO dropped 4.94%.
- However, the FUGAZ category faced difficulties, with losses of 2.07% and 3.41% reported by GTCO and ACCESSCORP, respectively.
- In addition, FBNH experienced a 0.35% fall, ZENITHBANK saw a 0.31% decline, and UBA declined by 0.83%.
Forecast for the market
The All-Share Index is on a long-term bullish trend despite the daily decrease. Following a string of drops, a retreat could offer investors the chance to buy shares at a discount.
A possible upward rally may result if the index is not overbought.
