All-Share Index closes at 99,922, eyes 100,000 mark as LIVINGTRUST tops gainers Nexovant

All-Share Index closes at 99,922, eyes 100,000 mark as LIVINGTRUST tops gainers

The Nigerian All-Share Index (ASI) posted a robust performance on December 16, 2024, climbing 544.57 points to close at 99,922.63—a solid 0.55% gain—as it inches closer to the 100,000-mark.

Investor activity surged, with trading volume reaching an impressive 740 million shares—a 38% increase compared to the previous session.

Market capitalization also maintained its strong footing above the N60 trillion threshold, ending the day at N60.58 trillion, underpinned by 8,464 recorded transactions.

LIVINGTRUST and ROYALEX led the gainers’ chart, both hitting the daily limit of 10.00%, reflecting strong investor confidence in these stocks.

However, it wasn’t all positive, as UPL emerged as the biggest laggard with a sharp 10.00% decline, followed by HMCALL, which dropped 9.81% and 9.62%, respectively, illustrating a mixed sentiment across the market.

On the activity front, STERLINGNG and WEMABANK stood out as the day’s most traded stocks, drawing significant investor interest and contributing to the heightened market turnover.

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

Top 5 losers  

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

Trading volume

On December 16, 2024, the Nigerian equities market saw a notable 38% boost in trading volume, with 740 million shares exchanged, surpassing the previous session’s activity.

STERLINGNG led the pack as the most actively traded stock, with an impressive 196.9 million shares exchanged.
WEMABANK followed closely with 150.4 million shares traded.
ETRANZACT secured third place with 70 million shares.
ACCESSCORP contributed 20.4 million shares to the day’s volume.
UBA rounded out the top five, recording 17.6 million shares.

Trading value

In terms of trading value, heavyweight stocks took center stage:

ARADEL led with transactions worth a staggering N8.3 billion.
WEMABANK ranked second, attracting N1.3 billion in trades, reflecting strong investor interest.
STERLINGNG and OANDO were also notable contributors, recording N955.5 million and N678.8 million, respectively.
UBA completed the top five, generating a trading value of N589 million.

SWOOT and FUGAZ performance

The SWOOT stocks, representing companies with market capitalizations above N1 trillion, recorded mixed performances:

ARADEL led the group with a robust 9.13% gain.
OANDO followed closely, appreciating by 5.88%.

Among the FUGAZ stocks—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK:

FBNH and ZENITHBANK posted modest gains of 0.68% each.
GTCO and ACCESSCORP dipped, shedding 1.79% and 0.62%, respectively.
UBA remained flat, closing with no price movement.

Outlook 

The All-Share Index broke through the 99,500-mark, driven by gains in large-cap stocks. This upward momentum brings the market closer to the eagerly awaited 100,000-point milestone.

With growing investor confidence and strong performances across major sectors, the Nigerian equities market is well-placed to sustain its positive trajectory in the coming days.

Looking to Invest in Real Estate? Discover Nexovant Today!
Nexovant is Nigeria’s leading real estate platform, offering seamless solutions for property listings, real estate investment, and property management. Whether you’re searching for the best properties in Nigeria, seeking opportunities with our NexoVest real estate investment platform, or exploring innovative tools like Morena AI, Nexovant is your trusted partner in real estate success.

We specialize in:

Real estate investment opportunities in Nigeria.
Affordable property listings for sale and rent.
AI-powered solutions for smarter property searches.
Real estate development and management services.
Join thousands of investors and property owners today. With Nexovant, you can buy, sell, rent, or invest in some of the best real estate in Nigeria.

Explore Nexovant:

📍 Visit us: www.nexovant.com
💡 Learn more about NexoVest: Your gateway to profitable real estate investments.
🌟 Discover Morena AI: Revolutionizing property search and analytics.
Keywords:

Best real estate platform in Nigeria
Real estate investment opportunities in Nigeria
Property for sale and rent in Nigeria
Real estate development and property management
AI in real estate Nigeria
Affordable real estate investments
Top property listing websites in Nigeria
Stay ahead in the real estate market with Nexovant – the future of real estate innovation in Africa.

Source