The Nigerian All-Share Index (ASI) closed on a positive note on December 6, 2024, advancing by 96.64 points to settle at 98,210.75.

This represents a modest 0.10% gain, amid increases in both trading volume and market capitalization.

Trading activity saw a significant uptick, with 1 billion shares changing hands—a 43.98% rise compared to the previous trading day.

Market capitalization remained robust, holding steady at N59.5 trillion, supported by 7,220 individual transactions.

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Among the top gainers, GOLDBREW led the pack with a 9.98% rise, followed closely by JAPAULGOLD, which surged by 9.30%. SUNUASSUR rounded out the top three with a solid 9.07% increase.

On the downside, ETERNA was the biggest loser, shedding 4.62% of its value, while STERLINGNG followed closely behind with a 4.12% decline.

In terms of trading activity, WEMABANK and FIDELITYBK were the day’s most actively traded stocks, attracting substantial volumes and dominating the market.

Market Summary  

  • Current ASI: 98,210.75 points
  • Previous ASI: 98,114.11 points
  • Day Change: +0.1%
  • Year-to-Date Performance: +31.34%
  • Volume Traded: 1 billion shares
  • Deals: 7,220

Top 5 gainers  

  • GOLDBREW: up 9.98% to N5.40
  • JAPAULGOLD: up 9.30% to N2.35
  • SUNUASSUR: up 9.07% to N5.05
  • SOVRENINS: up 7.69% to N0.84
  • NSLTECH: up 7.69% to N0.70

Top 5 losers  

  • ETERNA: down 4.62% to N22.70
  • STERLINGNG: down 4.12% to N4.65
  • PRESTIGE: down 3.85% to N0.75
  • CONHALLPLC: down 3.85% to N2.50
  • CHAMPION: down 3.50% to N3.86
Trading Volume: 

On December 6, 2024, the Nigerian equities market saw a notable increase in trading volume, rising by 43.98%. A total of 1 billion shares changed hands, a significant jump from the 722 million shares traded in the previous session.

  • WEMABANK emerged as the day’s most actively traded stock, with a dominant 472.4 million shares exchanged.
  • FIDELITYBK followed closely, with 251.5 million shares traded, while FCMB recorded 40.1 million shares.
  • Other key contributors included UBA, which traded 42.2 million shares, and JAPAULGOLD, rounding out the top five with 20.6 million shares.
Trading Value: 
  •  In terms of trading value, WEMABANK led the way with a substantial N4.1 billion in transactions.
  • FIDELITYBK closely followed, with N4.0 billion, indicating strong investor confidence in both stocks.
  • MTNN and CHAMPION also garnered attention, contributing N2.8 billion and N1.4 billion to the total market value, respectively.
  • TRANSPOWER rounded out the top five with N975.3 million in trades.
SWOOT and FUGAZ Stocks: 

Among the SWOOT stocks—those with market capitalizations exceeding N1 trillion—none experienced any price movement during the session.

  • However, within the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITH BANK, only ZENITH BANK saw a decline, shedding 0.11%.
  • On the positive side, ACCESSCORP posted a 3.12% gain, followed by FBNH at 1.35%, UBA at 1.34%, and GTCO at 0.85%.

Outlook: 

  • If the positive momentum seen in individual stocks persists, the index could potentially approach the 99,000 mark and surpass the N60 trillion market capitalization threshold in the near term.
  • With strong bullish sentiment and continued investor interest across multiple sectors, the Nigerian equities market is poised to maintain its upward trajectory in the coming sessions.