The Nigerian All-Share Index (ASI) concluded the trading session on November 25, 2024, on a subdued note, slipping by 202.75 points to settle at 97,626.27, a modest decline of 0.21%.
Amid the downturn, the market witnessed a notable surge in activity, with trading volume soaring by an impressive 83.33%.
A total of 671 million shares exchanged hands, a sharp increase from the previous day’s 366 million shares, underscoring heightened participation on the trading floor.
On the gainers’ chart, HMCALL rose by 10.00% to claim the top spot as the day’s best-performing stock. SUNUASSUR followed with a 9.81% increase, while NCR secured the third position with a rise of 9.72%.
On the flip side, NSLTECH topped the losers’ chart, dropping by 9.84%, while DAARCOMM followed closely with a decline of 9.68%.
FBN Holdings (FBNH) and HMCALL dominated market activity as the most actively traded stocks of the day, showcasing robust performance and sustained investor interest despite the overall market’s subdued tone.
Market Summary
- Current ASI: 97,626.27 points
- Previous ASI: 97,829.02 points
- Day Change: -0.21%
- Year-to-Date Performance: +30.56%
- Volume Traded: 671 million shares
- Deals: 10,464
Top 5 gainers
- HMCALL: up 10.00% to N5.61
- SUNUASSUR: up 9.81% to N3.47
- NCR: up 9.72% to N4.74
- SOVRENINS: up 9.52% to N0.69
- TANTALIZER: up 9.32% to N1.29
Top 5 losers
- NSLTECH: down 9.84% to N0.55
- DAARCOMM: down 9.68% to N0.56
- AUSTINLAZ: down 9.40% to N2.41
- GUINEANS: down 9.09% to N0.50
- LASACO: down 8.63% to N2.33
Trading volume
The Nigerian equities market saw a notable surge in activity, with trading volume rising by an impressive 83.33%. Investors exchanged a total of 671 million shares, a substantial increase from the 366 million shares recorded in the previous session.
- FBN Holdings (FBNH) led the charge, with a staggering 245.2 million shares changing hands, firmly establishing itself as the most actively traded stock of the day.
- Following closely was HMCALL, which recorded a solid 47.1 million shares traded.
- Other significant contributors to the trading volume included TANTALIZER with 35.3 million shares, GUINEAINS at 32.8 million shares, and PRESTIGE, rounding out the top five with 32.7 million shares.
Trading value
- On the value front, FBNH dominated once again, driving transactions worth an impressive N6.2 billion. UBA followed with trade values totalling N640.6 million, highlighting continued investor interest.
- ZENITHBANK and WAPCO also attracted significant attention, contributing N423.4 million and N290.9 million, respectively, to the day’s trading value.
- HMCALL completed the top five with N264.4 million in transactions, reinforcing its strong appeal to market participants.
SWOOT and FUGAZ stocks
In the SWOOT category, which features stocks with market capitalizations exceeding N1 trillion, OANDO stood out as the sole gainer, advancing by 2.50%.
- The FUGAZ stocks, comprising FBN Holdings (FBNH), United Bank for Africa (UBA), Access Holdings (ACCESSCORP), and Zenith Bank (ZENITHBANK), closed the session in negative territory.
- GTCO led the declines, shedding 3.39%, followed by ZENITHBANK and FBNH, which lost 2.71% and 1.57%, respectively. UBA remained unchanged, maintaining a flat close.
Outlook
Despite the market’s slight decline, optimism persists for a rebound in the Nigerian equities market. Strong Q3 earnings across several sectors, coupled with sustained investor interest, are expected to drive upward momentum in the coming sessions.
