The Nigerian Exchange’s All-Share Index (ASI) ended the trading session in red on Tuesday, continuing its downward trend from Monday.
The ASI shed 650.83 points to close at 98,058.07, slipping further below its previous close of 98,708.90 points.
This decline represents a 0.66% drop from the prior session, driven by ongoing profit-taking activities that have persisted since the start of the week, following gains in earlier sessions last week.
A total of 399.32 million shares were traded, reflecting a 13.06% increase from the 353.18 million shares exchanged on Monday.
These transactions were spread across 9,547 deals, with the market capitalization settling at N59.41 trillion, indicating continued bearish sentiment from investors.
Despite the bearish trend, some stocks recorded gains. NNFM and EUNISELL were among the top performers, with NNFM leading the gainers’ list with a 10% gain.
On the losing side, CADBURY led the decliners, dropping 9.89%, followed by ACADEMY and ROYALEX.
Market Summary
Current ASI: 98,058.07 points
Previous ASI: 98,708.90 points
Day Change: -0.66%
Year-to-Date Performance: 31.14%
Market Cap: N59.41 trillion
Volume Traded: 399.32 million shares
Value Traded: N8.92 billion
Deals: 9,547
Top Gainers
NNFM: up 10.00% to N37.40
EUNISELL: up 9.87% toN4.23
TIP: up 9.81% to N2.35
LIVESTOCK: up 7.73% to N4.04
CWG: up 4.96% to N6.35
Top Losers
CADBURY: down 9.89% to N16.40
ACADEMY: down 9.87% to N2.83
ROYALEX: down 9.72% to N0.65
ARADEL: down 8.33% to N550.10
SOVRENINS: down 8.06% to N0.57
Top Traded Stocks
- Market activity increased as traded volume rose to 399.32 million shares, reflecting a 13.06% increase from the previous session’s total of 353.18 million shares.
- Total trade value was worth N8.92 billion, a 96.08% increase from the previous trading day’s N4.55 billion.
- UBA led the volume chart, trading 90.41 million shares, CHAMS followed with 80.60 million shares, while TRANSCORP recorded 31.67 million shares. Other notable trades included ZENITHBANK, with 22.85 million shares, and ACCESSCORP which exchanged 15.72 million shares.
- In terms of trade value, UBA topped the list with N2.60 billion. TRANSCORP followed with N1.55 billion, and ARADEL recorded N1.25 billion. ZENITHBANK secured N892.15 million, while GTCO traded N363.29 million worth of shares.
Performance of SWOOT and FUGAZ Stocks
The SWOOT stocks exhibited mixed performance during Tuesday’s session. UBA re-entered the SWOOT category, reaching a market cap of N1.01 trillion with a gain of 2.60%.
However, ARADEL saw a sharp decline of 8.33%, while TRANSCORP dropped 7.41%. BUA CEMENT recorded a modest dip of 1.01%, with other SWOOT stocks remaining relatively stable.
In the FUGAZ category, most stocks traded in the red. FBNH slipped 1.11%, while ACCESSCORP fell by 4.65%. GTCO experienced a minor dip of 0.59%, and ZENITHBANK declined 2.26%. Only UBA gained 2.60%, continuing its positive momentum.
Market Outlook
- The ASI declined by 0.66%, reflecting sustained profit-taking activities, especially in TRANSCORP and ARADEL, which fell by 7.41% and 8.33%, respectively.
- The market volume recovered decrease from the previous trading session shows investors’ interest in penny stocks and may not necessarily mean that the ASI would rebound.
- The market may still record a loss in the next trading session, but the profit-taking trend is coming to an end soon and a positive moment could surface before the end of the week.
