The Nigerian All-Share Index (ASI) kicked off the week on a positive trajectory, edging higher by 24.99 points to conclude Monday’s trading session in the green.
This modest gain translated to a 0.03% increase for the trading day, which ended on November 18, 2024, buoyed by widespread bullish sentiment across the market.
Trading activity surged significantly, with volume climbing 40% from Friday’s 295 million shares to 413 million shares across 9,004 transactions, reflecting renewed investor interest as market participants sought to capitalize on emerging opportunities.
Johnson led the gainers’ chart with a 9.97% increase, followed by EUNISELL and BETAGLASS, which posted gains of 9.92% each.
Despite the day’s overall upward trend, some stocks faced downward pressure, with MECURE leading the decliners, dropping 9.65%, while TIP followed with a 9.09% loss.
Meanwhile, JAPAULGOLD and CONHALLPLC were the most actively traded stocks of the session, recording significant trading volumes on the exchange.
Market Summary
- Current ASI: 97,747.27 points
- Previous ASI: 97,722.28 points
- Year-to-Date Performance: +30.72%
- Volume Traded: 413 million shares
Top 5 gainers
- JOHNHOLT: up 9.97% to N8.49
- EUNISELL: up 9.92% to N13.18
- BETAGLAS: up 9.92% to N49.85
- WAPCO: up 9.52% to N46.00
- TANTALIZER: up 9.33% to N0.82
Top 5 losers
- MECURE: down 9.65% to N11.70
- THOMASWY: down 8.85% to N1.75
- UPL: down 7.83% to N3.65
- CHAMPION: down 6.88% to N3.52
Trading Volume
The market witnessed a notable uptick in activity, with daily trading volume surging by 40%. Investors exchanged a total of 413 million shares, a significant increase from the 295 million shares recorded in the previous session.
JAPAULGOLD emerged as the session’s most actively traded stock, with an impressive 179 million shares changing hands. CONHALLPLC followed with 36.8 million shares traded.
Other notable contributors included ACCESSCORP, which recorded 31.6 million shares, UBA with 17.3 million shares, and UCAP, rounding out the top five with 10.1 million shares traded.
Trading Value
In terms of value, ACCESSCORP led the session with transactions worth a commanding N775.5 million. UBA followed closely, generating N580 million in trading value.
ZENITHBANK and ARADEL also delivered strong performances, with trading values of N422.5 million and N419.9 million, respectively.
Completing the top five, OANDO recorded transactions valued at N418.7 million, underscoring robust investor interest in these equities.
SWOOT and FUGAZ Stocks
In the SWOOT category—stocks with market valuations exceeding N1 trillion—OANDO was the sole mover, advancing by 2.15%.
- The FUGAZ stocks, comprising FBN Holdings, UBA, GTCO, Access Holdings, and Zenith Bank, delivered a mixed performance.
- GTCO, FBNH, and ACCESSCORP saw declines of 1.16%, 0.72%, and 3.03%, respectively.
- Conversely, ZENITHBANK and UBA posted modest gains, rising by 0.46% and 0.15%, respectively.
Outlook
The Nigerian equities market appears poised for further gains as the current bullish momentum in mid- and large-cap stocks shows no signs of slowing. Should this trend persist, the All-Share Index may breach the 98,000-point mark in the coming sessions.
The sustained rally, driven by strong investor sentiment and robust Q3 results across sectors, is likely to maintain momentum and attract broader market participation.
