Market Wrap: All-Share Index sheds 118 Points as HONYFLOUR rises, MULTIVERSE leads losses Nexovant

The Nigerian All-Share Index (ASI) ended its trading on December 20, 2024, in the red, breaking an impressive streak of eight consecutive days of positive performance.

ASI declined by 118.93 points, closing at 101,129.09, which represented a modest decrease of 0.12%, yet it managed to hold above the crucial 101,000 mark.

In contrast, market activity experienced a significant surge, with trading volume rising by 28%, jumping from 400 million shares the previous day to an impressive 513 million shares.

Market capitalization remained steadfast above the N61 trillion threshold, concluding the session at N61.3 trillion, bolstered by a significant 11,554 transactions.

On the gainers’ front, HONYFLOUR and UACN led the charge, each achieving a remarkable 10.00% increase.

However, the day was not without its challenges, as MULTIVERSE emerged as the most significant laggard, experiencing a sharp decline of 9.80%, closely followed by ARADEL with a drop of 9.09%.

Notably, UNIVINSURE and UBA stood out as the most traded stocks of the day, drawing considerable investor interest and contributing significantly to the heightened market turnover.

Market summary  

Current ASI: 101,129.09 points
Previous ASI: 101,248.02 points
Day Change: -0.12%
Year-to-Date Performance: +35.25%
Volume Traded: 513 million shares
Market cap: N61.3 trillion

Top 5 gainers  

HONYFLOUR: up 10.00% to N6.05
UACN: up 10.00% to N30.25
UNIVINSURE: up 10.00% to N0.44
LEARNAFRCA: up 9.92% to N3.88
NAHCO: up 9.89% to N46.10

Top 5 losers  

MULTIVERSE: down 9.80% to N4.60
ARADEL: down 9.09% to N664.00
INTENEGINS: down 8.13% to N1.47
WAPIC: down 4.49% to N1.70
NB: down 3.33% to N29.00

Trading volume

Amid the market’s overall negative trajectory, trading volume experienced a notable surge of 28%, totaling 513 million shares exchanged compared to the previous session.

ZENITHBANK emerged as the leader in trading volume, with an impressive 60.4 million shares changing hands.
UBA followed closely, maintaining strong momentum with 43.4 million shares traded.
STERLINGNG secured the third spot with 43.3 million shares.
UNIVINSURE contributed a solid 28.3 million shares to the day’s total.
GTCO rounded out the top five with 23.5 million shares traded.

Trading value

ZENITHBANK led with transactions worth N2.7 billion, signaling strong investor confidence.
SEPLAT followed closely with trades valued at N2.1 billion.
ARADEL and UBA recorded trading values of N1.9 billion and N1.4 billion, respectively.
GTCO completed the top five with N1.3 billion in transactions.

SWOOT and FUGAZ Performance

ARADEL declined by 9.09%, followed by WAPCO at 2.84%.

FUGAZ Stocks (FBNH, UBA, GTCO, ACCESSCORP, ZENITHBANK):

ZENITHBANK, GTCO, and UBA gained 2.34%, 5.56%, and 0.75%, respectively.

FBNH and ACCESSCORP stalled with no movement.

Outlook

Despite a slight decline, the Nigerian All-Share Index continues to demonstrate a robust upward trajectory, closing above the 101,000-point threshold.

The strong performance of mid- and large-cap stocks is likely to further enhance market capitalization as bullish market conditions persist.

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