The Nigerian All-Share Index (ASI) closed in negative territory on January 15, shedding 1,526.14 points to settle at 102,095.95.
This represents a 1.47% decline from the previous session’s figure, pushing the index back into the 102,000-point range.
In addition to the decline in the ASI, trading activity slowed, with volume dropping 14.3% to 428 million shares from the prior session’s 508 million shares.
Market capitalization also saw a significant decrease, falling to N62.2 trillion, down from N63.1 trillion, hovering just above the N62 trillion mark.
On the gainers’ chart, Dangote Sugar Refinery (DANGSUGAR) and NASCON Allied Industries (NASCON) were the standout performers, each recording the maximum daily gain of 10.00%.
Conversely, Universal Insurance (UNIVINSURE) and Dangote Cement (DANGCEM) led the decliners’ list, with both stocks falling by 10.00%.
Market participation reflected the day’s subdued sentiment, with UNIVINSURE and AIICO Insurance emerging as the most actively traded stocks, contributing significantly to overall turnover.
This session highlights a retreat in market momentum, emphasizing a cautious sentiment among investors as the ASI retraced from recent highs.
Market Summary
- Current ASI: 102,095.95 points
- Previous ASI: 103,622.09 points
- Day Change: -1.47%
- Year-to-Date Performance: -0.81%
- Volume Traded: 435 million shares
- Market Cap: N62.2 trillion
Top 5 gainers
- DANGSUGAR: up 10.00% to N36.85
- NASCON: up 10.00% to N38.50
- SUNUASSUR: up 10.00% to N6.71
- SKYAVN: up 9.95 %to N33.15
- AUSTINLAZ: up 9.94% to N1.99
Top 5 losers
- UNIVINSURE: down 10.00% to N0.63
- DANGCEM: down 10.00% to N387.90
- JOHNHOLT: down 9.99% to N8.47
- TRANSPOWER: down 9.97% to N324.00
- PRESTIGE: down 9.89% to N0.82
Trading volume
The market recorded a decline in trading activity, with volume falling by 14.3% to 435 million shares. Notable highlights include:
- UNIVINSURE leading the session with an impressive 70.3 million shares traded.
- AIICO followed with 39.6 million shares exchanged.
- ACCESSCORP secured third place, recording 16.8 million shares.
- LIVESTOCK and NB traded 16.8 million and 16.1 million shares, respectively.
Trading value
In terms of trading value, activity was dominated by:
- BUAFOODS, which recorded transactions worth N2.5 billion, reflecting strong investor interest.
- ARADEL followed with trades totaling N666.6 million.
- ZENITHBANK and NB contributed N601.3 million and N518.1 million, respectively.
- NASCON added N503.5 million to the day’s value.
SWOOT and FUGAZ performance
SWOOT category
- OANDO stood out with a modest gain of 0.38%.
FUGAZ stocks
The FUGAZ group, consisting of FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK, delivered mixed results:
- FBNH and ZENITHBANK gained 1.58% and 0.43%, respectively.
- UBA and GTCO declined by 0.15% and 1.04%, respectively.
- ACCESSCORP remained unchanged at 0.00%.
Market outlook
- After six consecutive weeks of gains, the All-Share Index appears to be experiencing a slight retracement.
- Should this trend continue, it presents an opportunity for investors to buy into the market at lower levels.
- The long-term outlook remains bullish, supported by strong fundamentals and anticipated Q4 2024 earnings reports expected in late January and early February.
