The Nigerian All-Share Index closed lower on Wednesday, August 20, extending its losing streak as it shed 1,047.16 points to settle at 141,566.31.
This followed a sharp drop of over 2,100 points the previous day, with the index slipping by 0.73% from Tuesday’s close of 142,613.47.
Trading activity was also weaker, as market volume eased to 721.8 million shares from 1.02 billion shares recorded the day before.
Market capitalization fell below the N90 trillion mark, closing at N89.5 trillion across 28,745 deals, compared to N90.2 trillion previously.
AUSTINLAZ and CHAMPION led the gainers’ chart, advancing by 10% and 9.97% respectively.
On the downside, GUINNESS and CONOIL both dipped by 9.98% each.
In terms of activity, CHAMPION and UNIVINSURE emerged as the most heavily traded stocks of the day.
Market summary
- Current ASI: 141,566.31
- Previous ASI: 142,613.47
- Day Change: -0.73%
- Year-to-Date Performance: +37.54%
- Volume Traded: 721.8 million shares
- Market Cap: N89.5 trillion
Top 5 gainers
- AUSTINLAZ: Up 10.00% to N2.64
- CHAMPION: Up 9.97% to N19.74
- NCR: Up 9.77% to N9.55
- MULTIVERSE: Up 8.82% to N11.10
- ENAMELWA: Up 8.64% to N39.00
Top 5 losers
- CONOIL: Down 9.98% to N211.10
- GUINNESS: Down 9.98% to N140.20
- CONHALLPLC: Down 9.94% to N4.35
- ROYALEX: Down 9.92% to N2.27
- ELLAHLAKES: Down 9.81% to N14.90
Trading volume
Market activity slowed further as turnover declined from 1.02 billion shares to 721.8 million shares.
- CHAMPION led the volume chart with 54.5 million shares traded.
- UNIVINSURE followed with 47.8 million shares, reflecting continued investor interest.
- ROYALEX came in third at 46.1 million shares.
- REGALINS and AIICO rounded out the top five with 40.7 million and 39.2 million shares, respectively.
Trading value
In value terms, tier-one banks and blue chips dominated:
- ZENITHBANK topped the chart with trades worth N1.26 billion.
- MTNN was close behind at N1.25 billion.
- CHAMPION registered N988.2 million in deals.
- GTCO recorded N941.9 million, while STANBIC closed out the top five with N773 million.
SWOOT & FUGAZ performance
The SWOOTs (Stocks Worth Over One Trillion Naira) posted a mixed performance:
- International Breweries tumbled 9.75%, while Nigerian Breweries slipped 2.43%.
- Fidelity Bank also edged down 0.72%.
Among the FUGAZ banks:
- GTCO dropped 5.11%, and ACCESSCORP dipped 0.18%.
On the upside, ZENITH BANK gained 1.42%, while FIRSTHOLD and UBA closed flat.
Market outlook
The market is in a retracement phase, with the index on course to dip below the 141,000 level, and potentially 140,000, if bearish sentiment persists.
Further weakness in large-cap stocks could accelerate the overall market decline.
Keep up the good work. Very excellent