The Nigerian All-Share Index (ASI) wrapped up the week on a positive note, gaining 539.21 points to close Friday’s trading session at an impressive market capitalization of N59.2 trillion.
This performance marked a 0.50% uptick for the trading day that ended on November 15, 2024, driven by bullish sentiment across the board.
Despite the price rally, trading activity saw only a slight increase in volume.
The total number of shares traded rose by a modest 1.25%, from 291 million in the previous session to 295 million, recorded across 8,433 deals.
The gainers’ chart featured standout performances, led by Flour Mills of Nigeria (FLOURMILL), which soared 10.00%, solidifying its position as the session’s top performer. Close behind, EUNISELL also delivered a stellar 10.00% gain, while John Holt (JOHNHOLT) impressed with a near-equal climb of 9.97%.
However, not all stocks shared in the upward momentum. DEAPCAP led the laggards, shedding 9.17%, followed by IKEJAHOTEL, which saw its share price decline by 8.54%.
In terms of trading activity, Access Holdings (ACCESSCORP) and Zenith Bank (ZENITHBANK) dominated the session as the most actively traded stocks, continuing to capture investor interest.
Market Summary
- Current ASI: 97,722.28 points
- Previous ASI: 97,233.07 points
- Day Change: +0.50%
- Year-to-Date Performance: +30.69%
- Volume Traded: 295 million shares
- Deals: 8,433
Top 5 gainers
- FLOURMILL: up 10.00% to N78.65
- EUNISELL: up 10.00% to N11.99
- JOHNHOLT: up 9.97% to N7.72
- CONHALLPLC: up 9.94% to N1.88
- SUNUASSUR: up 9.68% to N2.72
Top 5 losers
- DEAPCAP: down 9.17% to N1.09
- IKEJAHOTEL: down 8.54% to N7.50
- DAARCOMM: down 6.45% to N0.58
- UNIVINSURE: down 5.88% to N0.32
- FIDSON: down 5.69% to N14.10.
Trading Volume
The market experienced a modest uptick in trading activity, with daily trading volume increasing by 1.25%. Investors exchanged a total of 295 million shares, up from the 291 million shares recorded in the previous session.
Access Holdings (ACCESSCORP) stood out as the most actively traded stock, with an impressive 33.3 million shares changing hands. Zenith Bank (ZENITHBANK) followed closely, accounting for 30.3 million shares.
Other notable performers included Conoil (CONHALLPLC) with 20.1 million shares, United Capital (UCAP) with 19.1 million shares, and SUNU Assurance (SUNUASSUR), which rounded out the top five with 13.3 million shares.
Trading Value
In terms of value, Zenith Bank (ZENITHBANK) dominated the session, leading with trades worth N1.3 billion. Access Holdings (ACCESSCORP) followed with transactions totaling N826.5 million.
Energy giant Oando (OANDO) and financial heavyweight Guaranty Trust Holding Company (GTCO) contributed significantly, recording trading values of N785.9 million and N667.2 million, respectively.
Closing out the top five, Aradel Holdings (ARADEL) saw trade valued at N621 million, highlighting robust investor interest in these stocks.
SWOOT and FUGAZ Stocks
In the SWOOT category—stocks with a market valuation exceeding N1 trillion—BUA Cement and Oando were the session’s only gainers.
- BUA Cement posted a 3.8% rise, while Oando surged by 4.42%. Other SWOOT stocks remained unchanged.
- Among the FUGAZ stocks, which comprise FBN Holdings, UBA, GTCO, Access Holdings, and Zenith Bank, performance was mixed.
- FBN Holdings (FBNH) declined by 0.54%.
However, GTCO, UBA, Zenith Bank, and Access Holdings recorded gains of 2.75%, 1.36%, 0.70%, and 0.20%, respectively.
Outlook
- If the current bullish momentum in mid- and large-cap stocks continues, the All-Share Index may surpass the 98,000-point mark in the upcoming sessions.
- The sustained rally, supported by strong investor sentiment and encouraging Q3 financial results across various sectors, is expected to keep the market on an upward trajectory, reinforcing optimism among market participants.
