The Nigerian All-Share Index (ASI) closed on a bearish note today, shedding 87.76 points as negative market sentiment persisted.
ASI declined by 0.09%, settling at 96,715.04 points compared to the previous day’s close of 96,802.80 points, giving back some of the gains made on Tuesday.
Market capitalization also dipped by 0.09%, falling to N55.57 trillion from N55.62 trillion the previous day.
This was driven by significant price declines in stocks like CWG, NNFM, and ACADEMY, which each saw losses of over 9%.
CAVERTON led the gainers, surging by 9.95%, while CWG emerged as the top loser, dropping by 10%. Other major losers included NNFM and ACADEMY, which declined by 9.94% and 9.93%, respectively.
Overall, market activity saw a drop, with the total number of deals falling 22% to 9,546 from 12,241 recorded in the previous session.
Market Snapshot
Current ASI: 96,715.04 points
Previous ASI: 96,802.80 points
Day Change: -0.09%
YTD Performance: +29.34%
Market Cap: N55.57 trillion
Volume Traded: 600.04 million units
Deals: 9,546
Top 5 Gainers
CAVERTON: up 9.95% to N2.10
REDSTAREX: up 9.69% to N3.85
UPDC: up 9.63% to N1.48
BERGER: up 9.33% to N20.50
CONOIL: up 9.09% to N168.00
Top 5 Losers
CWG: down 10.00% to N5.40
NNFM: down 9.94% to N43.50
ACADEMY: down 9.93% to N2.63
LEARNAFRCA: down 9.92% to N3.36
SCOA: down 9.90% to N1.73
Trading Volume
Despite the bearish trend, trading volume rose to 600.04 million shares, up from 406.19 million shares the previous day.
JAIZ BANK led the volume with 273.23 million units, followed by UBA with 39.80 million shares. Other notable trades included ACCESSCORP (28.48 million shares), OANDO (26.61 million shares), and BRISCOE (22.05 million shares).
Trading Value:
Total trading value, however, dropped by 32%, closing at N8.80 billion, down from N13.31 billion on Tuesday. OANDO led value trades at N2.43 billion, followed by UBA (N956.95 million), ZENITHBANK (N700.91 million), and GTCO (N570.80 million).
SWOOT and FUGAZ Update
- Despite the overall market dip, large-cap stocks such as Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transcorp showed resilience, maintaining stable prices.
- In the banking sector, FBN Holdings and Zenith Bank closed flat, while UBA and Access Holdings gained 4.35% and 2.22%, respectively. However, GTCO saw a slight decline of 0.11%.
- Outlook
- As the Nigerian All-Share Index continues to face pressure, market watchers will look for potential rebounds driven by large-cap stocks, which could help the index recover from recent losses.
