The Nigerian stock market, as measured by the All-Share Index (ASI), ended in the green on December 23, 2024, with a slight gain of 227.06 points, finishing at 101,356.15, up 0.22% as it approaches the 101,500 level.
Nevertheless, the market volume decreased by 2% from the previous session, from 513 million shares to 503 million shares.
With 12,490 trades, the market capitalisation ended the day at N61.4 trillion, staying stable over the N61 trillion mark.
With increases of 10.00%, OKOMUOIL, CHAMPION, MANSARD, MRS, and LIVINGTRUST were the top gainers.
The market’s divided sentiment was reflected in the top decliner on the downside, AUSTINLAZ, which sank 9.84%, followed closely by ARADEL, which also lost 9.64%.
The most actively traded equities in terms of trading activity were GTCO and JAPAULGOLD, which attracted a lot of investor attention and increased market turnover.
Market Summary
- Current ASI: 101,356.15 points
- Previous ASI: 101,129.09 points
- Day Change: +0.22%
- Year-to-Date Performance: +35.55%
- Volume Traded: 503.1 million shares
- Market Cap: N61.4 trillion
Top 5 Gainers
- OKOMUOIL: +10.00% to N403.70
- CHAMPION: +10.00% to N4.18
- MANSARD: +10.00% to N8.25
- MRS: +10.00% to N198.00
- LIVINGTRUST: +10.00% to N3.63
Top 5 Losers
- AUSTINLAZ: -9.84% to N1.65
- ARADEL: -9.64% to N600.00
- OANDO: -8.63% to N63.50
- VERITASKAP: -4.44% to N1.29
- OMATEK: -4.41% to N0.65
Volume of trades
Despite the market’s generally upward trend, trading volume saw a significant 2% decrease, with 503 million shares traded in comparison to the previous session.
- GTCO traded 39.3 million shares, making it the volume leader.
- JAPAULGOLD kept up its good pace, coming in second with 35.7 million shares.
- Third place went to ZENITHBANK, which traded 34.6 million shares.
- UBA added 26.3 million shares to the total for the day.
- Having exchanged 25.5 million shares, UNIVINSURE completed the top five.
Value of trade
Value-based trading was dominated by heavyweight companies, which attracted a lot of institutional interest:
- ARADEL demonstrated strong investor confidence by leading with deals of N3.7 billion.
- GTCO came in second with N2.25 billion worth of deals.
- The trading values of ZENITHBANK and TOTAL were N1.5 billion and N1 billion, respectively.
- UBA, with N912 million in transactions, finished in the top five.
Performance of FUGAZ and SWOOT
- The corresponding declines for ARADEL, OANDO, and WAPCO were 9.64%, 8.63%, and 0.73%.
- On the other hand, MTNN had a 1.42% rise.
FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK are FUGAZ stocks.
- All FUGAZ equities closed higher, with UBA leading at 3.70%, followed by GTCO at 3.07% and ACCESSCORP at 2.29%.
- Also reporting increases of 1.31% and 0.33%, respectively, were FBNH and ZENITHBANK.
Prospects
As it gets closer to the 102,000-point mark, the Nigerian All-Share Index closes above 101,300 points, continuing its strong upward trajectory.
Market capitalization may rise further if mid- and large-cap stocks continue to rise, maintaining the bullish trend.
