The Nigerian All-Share Index (ASI) closed the trading session on November 27, 2024, in the red, shedding 343.31 points to settle at 97,296.57—a dip of 0.35%.
Despite the overall decline, the market demonstrated a remarkable uptick in activity, with trading volumes surging by an impressive 48.97%.
A staggering 822 million shares changed hands during the session, marking a significant leap from the previous day’s 552 million shares and reflecting a surge in investor participation.
On the gainers’ chart, SUNUASSUR emerged as the best performer, rallying by 9.97% to clinch the top spot. GUINEAINS followed with an 8.16% increase, while CONOIL rounded out the top three with a solid 6.56% gain.
Conversely, the losers’ chart was led by JOHN HOLT, which recorded a steep decline of 10.00%. Close behind was ARADEL, shedding 9.98% of its value.
Notably, HMCALL and JAPAULGOLD dominated the trading floor as the day’s most actively traded stocks.
Market Summary
- Current ASI: 97,296.57 points
- Previous ASI: 97,626.27 points
- Day Change: -0.35%
- Year-to-Date Performance: +30.12%
- Volume Traded: 822 million shares
- Deals: 9,385
Top 5 gainers
- SUNUASSUR: up 9.97% to N4.19
- GUINEANS: up 8.16% to N0.53
- CONOIL: up 6.56% to N276.00
- DAARCOMMS: up 6.56% to N0.65
- NASCON: up 6.23% to N32.40
Top 5 losers
- JOHNHOLT: down 10.00% to N9.90
- ARADEL: down 9.98% to N473.30
- ETERNA: down 9.88% to N22.35
- HMCALL: down 8.43% to N5.65
- UPDC: down 8.13% to N1.47
Trading volume
The Nigerian equities market experienced a notable surge in activity, with trading volume climbing by an impressive 48.97%. Investors exchanged a total of 822 million shares, a substantial jump from the 552 million shares traded in the previous session.
- HMCALL led the pack with a staggering 373.7 million shares changing hands, cementing its position as the day’s most actively traded stock.
- Trailing closely was JAPAULGOLD, which recorded a robust 115.9 million shares traded.
- Other key contributors to the trading volume included TANTALIZER, with 30.7 million shares; UBA, accounting for 29.4 million shares; and GTCO, rounding out the top five with 28.7 million shares traded.
Trading value
On the value front, HMCALL emerged as the standout, driving transactions worth an impressive N2.1 billion. GTCO followed, with trade values reaching N1.5 billion, underscoring sustained investor interest.
- UBA and OANDO also made significant contributions, recording N930 million and N778.2 million, respectively, in trading value.
- TRANSCORP rounded out the top five with transactions totaling N709.7 million, reinforcing its continued appeal among market participants.
SWOOT and FUGAZ Stocks
In the SWOOT category, which includes stocks with market capitalizations exceeding N1 trillion, OANDO recorded a gain of 3.33%, while ARADEL experienced a notable decline, shedding 9.98% of its share price.
- The FUGAZ stocks—comprising FBN Holdings (FBNH), United Bank for Africa (UBA), Access Holdings (ACCESSCORP), and Zenith Bank (ZENITHBANK)—saw mixed activity during the session.
- ACCESSCORP and UBA posted declines of 1.77% and 0.47%, respectively.
- Meanwhile, FBNH, GTCO, and ZENITHBANK closed flat, with no price movement recorded.
Outlook
Despite the market’s dip, optimism remains for a potential rebound in the Nigerian equities market. Strong Q3 earnings across several sectors, combined with sustained investor interest, are anticipated to fuel upward momentum in the sessions ahead.
