Market Wrap: ASI Gains 767 Points, MTN Soars, SEPLAT Leads in Value

United Capital is the week's biggest gainer with 42.78%, as investors prepare for interim dividends
NGX

On January 21, 2025, the All-Share Index had a powerful day, closing at 103,137.99 after gaining 767.63 points.

This represents a slight increase of 0.75% from Monday’s closing value of 102,370.36, which coincided with a significant increase in trading volume.

Notwithstanding this upward trend, trading volume dropped precipitously to N440.3 million from N1.3 billion the day before, a 66% decrease.

However, market capitalization rose from N62.80 trillion to N63.3 trillion after 13,087 transactions.

MTNN, SCOA, and OMATEK stood out among individual stock performances, with remarkable gains of 10.00%, 9.93%, and 9.88%, respectively.

NSLTECH and ABBEYBDS, on the other hand, were the two biggest decliners, suffering losses of 9.88% and 9.09%, respectively.

The two most actively traded companies on the trading charts, LASACO and ACCESSCORP, contributed significantly to the day’s total turnover.

Market Summary

  • Current ASI: 103,137.99 points
  • Previous ASI: 102,370.36 points
  • Day Change: +0.75%
  • Year-to-Date Performance: +0.21%
  • Volume Traded: 440.3 million shares
  • Market Cap: N63.3 trillion

Top 5 Gainers

  • MTNN: +10.00% to N256.30
  • SCOA: +9.93% to N2.99
  • OMATEK: +9.88% to N0.89
  • UNIVINSURE: +8.70% to N0.75
  • CAP: +8.52% to N47.75

Top 5 Losers

  • NSLTECH: -9.88% to N0.73
  • ABBEYBDS: -9.09% to N3.30
  • SUNUASSUR: -8.21% to N6.15
  • DEAPCAP: -7.08% to N1.05
  • CILEASING: -6.08% to N4.10

Volume Of Trades

During the session, trading volume fell significantly, 66% to 440.3 million shares. Important points to note are:

  • With a remarkable 108 million shares exchanged, LASACO was at the top of the chart.
  • ACCESSCORP exchanged 44 million shares in close succession.
  • With 27.8 million shares, UBA took third position.
  • UNIVINSURE contributed 22.6 million shares, while ZENITHBANK gave 26.7 million.

Value Of Trade

The following factors dominated the session in terms of trading value:

  • SEPLAT, disclosing N3.5 billion in transactions.
  • MTNN came next, with N1.6 billion worth of deals.
  • ZENITHBANK and ACCESSCORP, respectively, provided N1.2 billion and N1 billion.
  • UBA’s transaction total for the day was N945.6 million.

Performance of FUGAZ and SWOOT

Among the noteworthy performances in the SWOOT category were:

  • MTNN had a 10% increase.
  • On the other hand, OANDO saw a slight 2.7% increase.

The performance was uneventful for the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK:

  • ZENITHBANK gained 0.43%, ACCESSCORP gained 0.41%, UBA gained 0.29%, and GTCO gained 1.72%.
  • On the other hand, FBNH experienced a 1.54% decrease.

Outlook For The Market:

After rising 767.63 points, the All-Share Index once more surpassed the 103,000-mark. The index may witness additional surges in late January and early February when major and mid-cap stocks release their Q4 earnings results.

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