Market Wrap: All-Share Index up 0.10% as GOLDBREW leads gainers, JOHNHOLT tops losers 

The Nigerian All-Share Index (ASI) concluded trading on December 10 with a positive performance, gaining 99.45 points to close at 98,206.97, reflecting a slight increase of 0.1%.

Amid this modest increase, trading activity witnessed a surge, with 939 billion shares exchanged—a significant 115.4% rise compared to the previous session.

Market capitalization remained strong at N59.5 trillion, supported by 9,098 individual transactions.

Leading the gainers’ chart, GOLDBREW saw an impressive rise of 9.93%, followed by GUINEAINS, which posted a 9.80% increase. TANTALIZER secured third place with a 9.77% advance.

Conversely, JOHNHOLT emerged as the top loser, shedding 9.96%, while HMCALL followed closely with a 9.91% decline.

In terms of trading volume, WAPIC and STERLINGNG stood out as the most actively traded stocks, significantly contributing to the day’s market turnover.

Market Summary  

• Current ASI: 98,206.97 points
• Previous ASI: 98,107.52 points
• Day Change: +0.1%
• Year-to-Date Performance: +31.34%
• Volume Traded: 939 million shares
• Deals: 9,098

Top 5 gainers  

• GOLDBREW: up 9.93% to N6.53
• GUINEANS: up 9.80% to N0.56
• TANTALIZER: up 9.77% to N1.46
• AFRIPRUD: up 9.70% to N13.00
• ABCTRANS: up 9.65% to N1.25

Top 5 losers  

• JOHNHOLT: down 9.96% to N7.23
• HMCALL: down 9.91% to N5.27
• MORISON: down 9.89% to N4.01
• WAPCO: down 7.80% to N65.00
• UPDCREIT: down 5.83% to N4.85

Trading Volume 

On December 10, 2024, the Nigerian equities market recorded a sharp 115.4% increase in trading volume. A total of 939 million shares were traded, significantly higher than the 436 million shares exchanged in the previous session.

• WAPIC led as the most actively traded stock, with an impressive 457.6 million shares exchanged.
• STERLINGNG followed with 138.4 million shares, while JAPAULGOLD recorded 30.3 million shares.
• Other notable contributors included UBA with 28.7 million shares and MTNN, rounding out the top five with 28.6 million shares.

Trading Value 

• In terms of trading value, MTNN dominated with a substantial N4.3 billion worth of transactions.
• WAPCO ranked second, recording N1.2 billion, reflecting strong investor confidence.
• UBA and STERLINGNG contributed significantly, with trading values of N962.5 million and N677.4 million, respectively.
• CAP completed the top five, generating N632.5 million in trades.

SWOOT and FUGAZ Stocks 

• Among the SWOOT stocks (companies with market capitalizations above N1 trillion), Oando gained 0.9%, and MTNN surged by 3.47%.
• Within the FUGAZ group (FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK ):
• ZENITHBANK, UBA, and GTCO declined by 0.79%, 0.75%, and 0.38%, respectively.
• On a positive note, ACCESSCORP gained 0.21%.
• FBNH remained stable with no change in share price.

Outlook 

If the positive momentum continues, 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.