Market Wrap: GOLDBREW and NGXGROUP lead gainers with 10% surge as NSLTECH tops losers, All-Share Index dips 0.11% 

The Nigerian All-Share Index (ASI) closed on a negative note on December 9, 2024, declining by 103.23 points to settle at 98,107.52, reflecting a modest 0.11% decrease.

Amid the decline, trading activity experienced a significant fall, with 436 billion shares exchanged—a sharp 137% drop from the previous trading session.

Meanwhile, market capitalization remained strong at N59.4 trillion, buoyed by 9,489 individual transactions.

On the gainers’ chart, GOLDBREW led the way with a 10.00% surge, matched by NGXGROUP, which also posted a 10.00% increase. TANTALIZER secured third place, advancing by 9.92%.

Conversely, NSLTECH topped the losers’ list, shedding 10.00%, followed by GUINEAINS, which declined by 8.93%.

In terms of trading activity, FCMB and ACCESSCORP stood out as the most actively traded stocks, commanding significant volumes and dominating the market turnover.

Market Summary  

• Current ASI: 98,107.52 points
• Previous ASI: 98,210.75 points
• Day Change: +0.11%
• Year-to-Date Performance: +31.20%
• Volume Traded: 436 million shares
• Deals: 9,489

Top 5 gainers  

• GOLDBREW: up 10.00% to N5.94
• NGXGROUP: up 10.00% to N27.50
• TANTALIZER: up 9.92% to N1.33
• AFRIPRUD: up 9.72% to N11.85
• WAPIC: up 9.35% to N1.17

Top 5 losers  

• NSLTECH: down 10.00% to N0.63
• GUINEANS: down 8.93% to N0.51
• DEAPCAP: down 8.40% to N1.09
• DAARCOMM: down 7.02% to N0.53
• RTBRISCOE: down 6.12% to N2.30

Trading volume 

On December 9, 2024, the Nigerian equities market recorded a sharp 137% decline in trading volume. A total of 436 million shares were traded, significantly lower than the 1 billion shares exchanged in the previous session.

• FCMB led as the most actively traded stock, with an impressive 61.6 million shares exchanged.
• ACCESSCORP followed with 51 million shares, while UBA recorded 27.1 million shares.
• Other notable contributors included GTCO with 24.4 million shares and FIDELITYBK, rounding out the top five with 24 million shares.

Trading value 

• In terms of trading value, ARADEL dominated with a substantial N3.5 billion worth of transactions.
• GTCO ranked second, recording N1.3 billion, reflecting strong investor confidence.
• ACCESSCORP and WAPCO contributed significantly, with trading values of N1.2 billion and N1 billion, respectively.
• UBA completed the top five, generating N914.5 million in trades.

SWOOT and FUGAZ stocks 

• Among the SWOOT stocks (companies with market capitalizations above N1 trillion), Oando shed 3.02% in share price.
• Within the FUGAZ group (FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK):
• ACCESSCORP and UBA declined by 2.82% and 1.18%, respectively.
• On a positive note, ZENITHBANK gained 0.91%, and FBNH edged up by 0.19%.
• GTCO remained stable with no change in share price.

Outlook 

Despite the decline in trading volume, the market outlook remains positive. The All-Share Index could move closer to the 99,000 mark, with market capitalization projected to surpass the N60 trillion threshold.

• Bullish sentiment across various sectors and sustained investor confidence are expected to support the Nigerian equities market’s upward trajectory in the near term.