On April 29th, the Nigerian stock market concluded trading on a down note, with the All-Share index dropping by 192.96 points to settle at 105,931.18.
This marks a decline of 0.18% from the previous day’s close of 106,124.14, as the index slipped below the 106,000-threshold.
Daily trading volume saw a significant increase, surging to 733 million shares, up from 500 million shares reported the day before.
However, market capitalization witnessed a slight decline, falling from N66.6 trillion to N66.5 trillion, accompanied by a total of 16,619 transactions.
In terms of performance, LEGENDINT and ABCTRANS topped the gainers’ list, rising by 10.00% and 9.94%, respectively.
Conversely, LIVESTOCK and MULTIVERSE experienced notable declines, falling by 9.71% and 9.62%, respectively. Among the most actively traded stocks, FIDELITYBK and MTNN led the volume table.
Market summary
Current ASI: 105,931.18
Previous ASI: 106,124.14
Day Change: -0.18%
Year-to-Date Performance: +2.92%
Volume Traded: 733 million shares
Market Cap: N66.5 trillion
Top 5 gainers
LEGENDINT: Up 10.00% to N8.25
ABCTRANS: Up 9.94% to N1.88
CADBURY: Up 9.91% to N32.15
CHAMPION: Up 9.79% to N4.71
ETERNA: Up 9.46% to N48.00
Top 5 losers
LIVESTOCK: Down 9.71% to N7.72
MULTIVERSE: Down 9.62% to N7.05
MCNICHOLS: Down 9.47% to N1.72
OMATEK: Down 9.23% to N0.59
MTNN: Down 6.07% to N240.00
Trading volume
Daily trading volume experienced a notable increase, rising to 733 million shares, compared to 500 million shares reported the previous day.
- FIDELITYBK led the trading activity, with a substantial 285.1 million shares exchanged.
- MTN closely followed with 86.8 million shares traded, while UBA demonstrated strong investor interest with 35.5 million shares changing hands.
- Additionally, UNIVINSURE and GTCO recorded significant trades of 29.8 million and 28.5 million shares, respectively.
SWOOT and FUGAZ performance
In the SWOOT category, MTNN saw a decline of 6.07%.
- Conversely, within the FUGAZ group, ZENITHBANK increased by 2.91%, UBA gained 2.19%, ACCESSCORP rose by 1.48%, and GTCO saw an uptick of 1.19%.
- On the downside, FIRSTHOLDCO slipped by 0.20%.
Market outlook
Despite the daily decline, the All-Share Index is in recovery mode as it stages corrections above the 105,500 zone. The anticipated rebound in large- and mid-cap stocks is expected to play a crucial role, as positive price action from reactions to favorable market results seeps into the market.
