The Nigerian All-Share Index (ASI) saw a significant increase at the end of December 2, 2024, rising 226.99 points to close at 97,733.86.
This represented a positive gain of 0.23%, indicating a slight but consistent upward trend in the market.
Even though the ASI saw a small increase, trading volume was restrained, dropping 12.49% from 515 million shares the day before to 451 million.
Despite rises in the broader index, this volume decline points to a minor reversal in market activity.
Even yet, market capitalization held flat at N59.2 trillion, and 9,329 trades were completed, suggesting that overall market activity stayed largely unchanged.
Among the day’s best performers, WAPCO took centre stage after soaring by 10.00% to take the top spot. ABBEYBDS also recorded a 10.00% gain. AFRIPRUD completed the top three with an equally remarkable 10.00% rise.
ETRANZACT suffered the biggest downside loss, losing 10.00% of its value, while NCR was not far behind, losing 9.92%.
Notably, JAPAULGOLD and UBA were the most actively traded stocks of the day despite the decline in overall trading volume, indicating that investor interest and market involvement persisted despite the volume decline.
Market Summary
- Current ASI: 97,733.86 points
- Previous ASI: 97,506.87 points
- Day Change: +0.23%
- Year-to-Date Performance: +30.71%
- Volume Traded: 451 million shares
- Deals Executed: 9,329
Top 5 Gainers
- WAPCO: Increased by 10.00% to ₦58.00
- ABBEYBDS: Rose by 10.00% to ₦2.64
- AFRIPRUD: Up by 10.00% to ₦9.90
- VFDGROUP: Gained 9.88% to ₦44.50
- SOVRENINS: Climbed 9.95% to ₦0.80
Top 5 Losers
- ETRANZACT: Declined by 10.00% to ₦6.75
- NCR: Dropped 9.92% to ₦4.27
- FTNCOCOA: Fell 8.29% to ₦1.77
- HONYFLOUR: Decreased 5.92% to ₦4.45
- NPFMCRFBK: Slipped 4.46% to ₦1.50
Volume Of Trades
On December 2, 2024, trading activity on the Nigerian stock market decreased, with a 12.49% drop in trade volume. Compared to 515 million shares in the previous session, 451 million shares were exchanged overall.
- With a healthy 72 million shares moved, JAPAULGOLD became the day’s most active participant and the most actively traded stock.
- Following closely behind with 67.8 million shares traded was UBA, followed by ACCESSCORP with 53.6 million shares.
- WAPCO, with 21.2 million shares, and GTCO, which completed the top five with 20.9 million shares traded, were other noteworthy contributors.
Value of trade
- With transactions totalling an astounding N2.2 billion, UBA led the way regarding trading value.
- WAPCO came in second with a transaction value of N1.3 billion, demonstrating the stock’s ongoing appeal to investors.
- ACCESSCORP and GTCO also garnered significant attention, as their respective contributions of N1.2 billion and N1 billion to the day’s total value were N1.2 billion and N1 billion, respectively.
- With N789.6 million in trades, Zenith Bank completed the top five and demonstrated significant investor interest in important equities.
FUGAZ and SWOT stocks
The share price of OANDO fell by 0.69% among the SWOT stocks with market capitalizations greater than N1 trillion.
The FUGAZ group observed various price changes, including FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK.
- GTCO witnessed a slight loss of 0.85%, while FBNH saw a dip of 3.04 percent.
- Conversely, ZENITHBANK, ACCESSCORP, and UBA increased 3.23%, 0.45%, and 1.22%, respectively.
Prospects
With the crucial 99,000 level now within reach, the All-Share Index is predicted to rise beyond the 98,000 mark due to the favorable price movements in the banking industry, particularly among tier-1 institutions.
The Nigerian stock market seems poised to sustain its upward trajectory in the upcoming sessions, bolstered by robust third-quarter earnings from multiple industries and sustained investor confidence.
