All-Share Index Finishes At 99,922, Aiming For 100,000 As LIVINGTRUST Leads Gainers

NGX All-Share Index Surges 33.81% in H1 2024 Despite Economic Troubles
NGX

LIVINGTRUST leads gainers as the All-Share Index finishes at 99,922 and approaches the 100,000 mark.

As it approaches the 100,000 mark, the Nigerian All-Share Index (ASI) had a strong showing on December 16, 2024, rising 544.57 points to close at 99,922.63, a strong 0.55% gain.

With trading volume hitting an astonishing 740 million shares – a 38% increase from the previous session – investor activity skyrocketed.

With 8,464 reported transactions, the market capitalization ended the day at N60.58 trillion, maintaining its solid footing above the N60 trillion mark.

Leading the gainers’ chart were ROYALEX and LIVINGTRUST, both of which reached the daily limit of 10.00%, indicating high investor confidence in these equities.

It wasn’t all sunshine and roses, though, as UPL was the largest laggard with a steep 10.00% drop, followed by HMCALL, which fell 9.81% and 9.62%, respectively, indicating a mixed market attitude.

Regarding activity, STERLING NG and WEMABANK were the most traded stocks of the day, attracting a lot of investor attention and causing the market turnover to increase.

Market Summary

  • Current ASI: 99,922.63 points
  • Previous ASI: 99,378.28 points
  • Day Change: +0.55%
  • Year-to-Date Performance: +33.63%
  • Volume Traded: 740.8 million shares
  • Market Cap: N60.58 trillion

Top 5 Gainers

  • LIVINGTRUST: +10.00% to N3.30
  • ROYALEX: +10.00% to N0.66
  • INTBREW: +9.90% to N4.55
  • GUINEAINS: +9.84% to N0.67
  • CAVERTON: +9.60% to N2.17

Top 5 Losers

  • UPL: -9.81% to N3.77
  • HMCALL: -9.62% to N4.70
  • INTENEGINS: -9.52% to N1.33
  • ABCTRANS: -8.70% to N1.05
  • SOVRENINS: -8.24% to N0.78

Volume of Trades

740 million shares were traded on the Nigerian stock exchange on December 16, 2024, a significant 38% increase in trading volume over the previous day.

  • STERLING NG was the most actively traded stock, with an amazing 196.9 million shares swapped.
  • WEMABANK, with 150.4 million shares traded, came in second.
  • ETRANZACT, with 70 million shares, took third place.
  • ACCESSCORP contributed 20.4 million shares to the day’s trading volume.
  • UBA, with 17.6 million shares, completed the top five.

Value of trade

The following heavyweight stocks were the most valuable in terms of trading:

  • ARADEL had the most transactions, totalling an incredible N8.3 billion.
  • WEMABANK came in second place with N1.3 billion in trading, indicating a high level of investor interest.
  • OANDO and STERLINGNG both made significant contributions, with N678.8 million and N955.5 million, respectively.
  • UBA, which generated a trade value of N589 million, finished in the top five.

Performance of FUGAZ and SWOOT

The performance of the SWOOT stocks, which stand for businesses with market capitalizations greater than N1 trillion, was inconsistent:

  • ARADEL had a strong 9.13% gain, leading the group.
  • OANDO, which appreciated by 5.88%, came in second.

FUGAZ equities, which include FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK, include:

  • ZENITHBANK and FBNH both reported little increases of 0.68%.
  • Both GTCO and ACCESSCORP experienced declines, with losses of 1.79% and 0.62%, respectively.
  • UBA closed without any price movement, remaining level.

Prospects

Gains in large-cap stocks propelled the All-Share Index over the 99,500 threshold. The market is getting closer to the much-anticipated 100,000-point milestone thanks to this upward momentum.

The Nigerian stock market is in a solid position to continue its upward trajectory in the days ahead thanks to rising investor confidence and impressive results in key industries.

 

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