The Nigerian All-Share Index (ASI) closed on December 27 in the red, retreating by 52.73 points to finish at 102,133.30, representing a modest decline of 0.05% from its Christmas Eve closing of 102,186.03.
Despite this dip, market activity surged, with trading volume increasing by 11.62% to reach 443 million shares, up from 397 million.
The market capitalization held tight to N61 trillion, closing at N61.9 trillion, supported by 12,551 transactions.
UPL distinguished itself as the leading gainer, achieving an increase of 10.00%. Following closely were WAPIC and UNIVINSURE, each also rising by 10.00%.
In contrast, HONYFLOUR experienced the steepest decline, with a drop of 9.09%, while RTBRISCOE was not far behind, declining by 5.66%.
Noteworthy in trading activity, UBA, and ACCESSCORP emerged as the most actively traded stocks, drawing significant investor interest and contributing substantially to the day’s turnover.
Market Summary
- Current ASI: 102,133.3 points
- Previous ASI: 102,186.03 points
- Day Change: -0.05%
- Year-to-Date Performance: +36.59%
- Volume Traded: 443 million shares
- Market Cap: N61.9 trillion
Top 5 gainers
- UPL: up 10.00% to N3.85
- WAPIC: up 10.00% to N1.87
- UNIVINSURE: up 10.00% to N0.55
- IKEJAHOTEL: up 9.95% to N12.15
- MAYBAKER: up 9.94% to N9.40
Top 5 losers
- HONYFLOUR: down 9.09% to N6.30
- RTBRISCOE: down 5.66% to N2.50
- NEIMETH: down 5.47% to N1.90
- ETERNA: down 5.00% to N28.50
- TANTALIZER: down 4.44% to N1.72
Trading volume
Despite an overall bearish market session, trading volume experienced an increase of 11.62%, with 443 million shares exchanged compared to the previous session.
- UBA took the lead, trading an impressive 41.7 million shares, while ACCESSCORP closely followed with 35.4 million shares.
- ZENITHBANK secured the third position with 32.2 million shares, and GTCO contributed 22.8 million shares to the day’s total.
- JAIZBANK completed the top five with 19.2 million shares traded.
Trading value
Heavyweight stocks dominated the trading landscape in terms of value, attracting significant institutional interest.
- SEPLAT led the charge with transactions valued at N3 billion, indicative of robust investor confidence.
- BUAFOODS followed closely with trades amounting to N2.4 billion.
- ZENITHBANK and UBA contributed N1.5 billion and N1.4 billion, respectively, while ARADEL rounded out the top five with N1.4 billion in transactions.
SWOOT and FUGAZ performance
Among SWOOT stocks, OANDO exhibited positive price movement, climbing by 2.36%.
For the FUGAZ category (comprising FBNH, UBA, GTCO, ACCESSCORP, ZENITHBANK).
- Declines were noted with UBA, ACCESSCORP, GTCO, and ZENITHBANK experiencing decreases of 4.03%, 2.83%, 1.64%, and 0.11%, respectively.
- In contrast, FBNH managed to close in the green, gaining 0.72%.
Outlook
The Nigerian All-Share Index maintained its position above the N102,000 mark, even as market volume experienced a decline. Attention is now focused on the psychological threshold of 104,000, established in March.
While the index may encounter some resistance due to reduced trading volumes during the festive season, the individual gains in large-cap stocks are anticipated to drive the index toward overcoming the significant barriers of 103,000 and 104,000.
