The All-Share Index dropped 370.43 points to end the trading session at 108,126.97 on February 24, 2025, putting it in negative territory.
Amidst drops in all FUGAZ stocks, this indicates a 0.34% drop from the previous trading day’s level of 108,568.50.
On the other hand, the number of shares traded increased by 13%, from 315 million to 357 million.
As the index held steady at N67 trillion, market capitalization dropped from N67.6 trillion to N67.3 trillion.
IKEJAHOTEL and UHOMREIT stood out regarding individual stock performance, with noteworthy gains of 10.00% and 9.97%, respectively. On the other hand, NNFM and EUNISELL experienced notable drops of 9.99% and 9.96%, respectively.
Additionally, ZENITHBANK and JAIZBANK were prominent participants in the day’s trading activity, significantly impacting total turnover.
Market Summary
- ASI: 108,126.97 (-0.34%)
- YTD Performance: +5.05%
- Previous ASI: 108,568.50
- Market Cap: N67.3 trillion
- Volume Traded: 357M shares
Top 5 Gainers
- IKEJAHOTEL ↑ 10.00% to N12.10
- UHOMREIT ↑ 9.97% to N40.25
- PZ ↑ 9.26% to N29.50
- CONHALLPLC ↑ 8.85% to N4.18
- DAARCOMM ↑ 8.82% to N0.74
Top 5 Losers
- NNFM ↓ 9.99% to N72.55
- EUNISELL ↓ 9.96% to N10.85
- SOVRENINS ↓ 9.09% to N1.20
- NSLTECH ↓ 7.46% to N0.62
- UPDCREIT ↓ 6.67% to N6.30
Volume of trades
The daily trading volume increased from 315 million shares the day before to 357 million, a notable 13% rise.
- With an astounding 48.1 million shares traded, JAIZBANK topped the trading leaderboard. ZENITHBANK came in second with 28.1 million shares.
- With 18.6 million shares traded, UNIVINSURE took third place, while GTCO and ACCESSCORP each contributed a sizable 17.8 million and 15.5 million shares, respectively.
Value of trade
With transactions of N1.3 billion, ZENITHBANK was the market leader in terms of trading value.
- Another important player was GTCO, which added N1.1 billion to the day’s total.
- MTNN completed the trade numbers with N486.6 million, while ARADEL and PRESCO contributed N844.9 million and N702.3 million, respectively.
Performance of FUGAZ and SWOOT
- OANDO and WAPCO saw decreases of 2.37% and 0.51%, respectively, under the SWOOT category.
The FUGAZ group also experienced losses, with ZENITHBANK and ACCESSCORP falling by 2.02% and 2.64%, respectively, and FBNH falling by 4.07%.
- UBA and GTCO experienced modest drops, falling 1.87% and 0.08%, respectively.
Outlook for the market
- The market outlook is cautiously upbeat despite the recent decline.
- A downturn can pave the way for a long-term upward surge if market participants believe the index is not overbought.
