The Nigerian All-Share Index closed the trading session on September 17 in positive territory, gaining 489.5 points to settle at 142,036.2.
This represents a 0.35% increase from the previous day’s close of 141,546.8, as the Nigerian stock market reclaimed levels above 142,000.
Trading activity surged, with the number of shares exchanged reaching 1 billion, up from 414 million the previous day.
Market capitalization also strengthened, rising to N89.8 trillion across 23,281 deals, as the market eyes a return to the N90 trillion mark.
- On the gainers’ board, Chellarams Plc (CHELLARMS) and Austin Laz & Company Plc (AUSTINLAZ) led the charge, climbing 9.77% and 9.67%, respectively.
- On the losing side, Guinea Insurance Plc (GUINEAINS) and Cornerstone Insurance Plc (CORNEST) dipped 9.70% and 8.68%, respectively.
Volume leaders for the day were Abbey Mortgage Bank Plc (ABBEYBDS) and Fidelity Bank Plc (FIDELITYBK), which accounted for the bulk of trading activity with 401 million and 254.8 million shares exchanged, respectively.
Market summary
- Current ASI: 142,036.2
- Previous ASI: 141,659.0
- Day Change: +0.35
- Year-to-Date Performance: +38%.
- Volume Traded: 1 billion shares
- Market Cap: N89.86 trillion.
Top 5 gainers
- CHELLARAM: Up 9.77% to N14.60
- AUSTINLAZ: Up 9.67% to N2.95
- TIP: Up 8.08% to N12.97
- SOVRENINS: Up 7.37% to N3.06
- ARADEL: Up 6.97% to N583.00
Top 5 losers
- GUINEAINS: Down 9.70% to N1.49
- CORNEST: Down 8.68% to N6.52
- LEGENDINT: Down 7.27% to N5.10
- DEAPCAP: Down 7.06% to N1.58
- THOMASWY: Down 6.49% to N2.45
Trading volume
Market activity strengthened as trading volume climbed to 1 billion shares from 414 million shares in the previous session.
- ABBEYBDS led the activity chart with 401 million shares traded.
- FIDELITYBK followed with 254.8 million shares.
- UBA came in third at 23.2 million shares.
- FIRSTHOLDCO and ACCESSCORP rounded out the top five with 22.5 million and 17.4 million shares, respectively.
Trading value
In terms of value, ARADEL dominated the market with trades worth N6.8 billion.
- FIDELITYBK trailed with N5.2 billion.
- ABBEYBDS recorded N2.7 billion.
- DANGCEM posted N1.5 billion.
- UBA completed the top five at N1 billion.
SWOOT & FUGAZ performance
The SWOOTs (Stocks Worth Over One Trillion Naira) posted a mixed performance.
- ARADEL gained 6.97%, INTERNATIONAL BREWERIES reached 6.96%, DANGOTE CEMENT rose 0.98%, NIGERIAN BREWERIES gained 0.29%
- On the flip side, LAFARGE slipped 2.34%
Among the FUGAZ stocks, performance was also uneven:
- FIRSTHOLDCO gained 5.03%, while ACCESSCORP closed flat.
- ZENITHBANK fell 1.25%, GTCO dipped 1.05%, UBA declined 0.53%
Market outlook
The All-Share Index appears to be rebounding from the recent pullback, with some previously dormant large-cap stocks beginning to surge.
If the current bullish momentum in select large-cap stocks continues, the market could extend its recovery and potentially reclaim the 143,000 level in the near term.
