All-Share Index dips 0.19% as ACADEMY and NEIMETH shine; JAIZBANK leads in trading volume

On March 17, 2025, the Nigerian market closed in the red, dropping 196.15 points to settle at 105,799.17.

This decline translates to a 0.19% decrease from the previous day’s closing value of 105,995.32, coinciding with a dip in trading volume.

Daily trading volume fell significantly, from 750.5 million the day before to 477.5 million, marking a sharp 36.38% decline.

The market capitalization ended the day at N66.3 trillion, firmly holding onto the N66 trillion threshold.

Amidst the fluctuations, ACADEMY and NEIMETH stood out as noteworthy gainers, rising by 9.92% and 8.43%, respectively.

However, ETRANZACT and SUNUASSUR faced challenges, dropping by 10.00% and 9.66%, respectively. Throughout the trading day, JAIZBANK and ZENITHBANK were particularly active, contributing significantly to the overall trading volume.

Market Summary

• Current ASI: 105,799.17 points
• Previous ASI: 105,995.32 points
• Day Change: -0.19%
• Year-to-Date Performance: +2.79%
• Volume Traded: 477.5 million shares
• Market Cap: N66.3 trillion

Top 5 Gainers

• ACADEMY: up 9.92% to N2.88
• NEIMETH: up 8.43% to N2.70
• TANTALIZER: up 6.83% to N3.13
• DANGSUGAR: up 4.71% to N36.70
• STANBIC: up 4.24% to N61.50

Top 5 Losers

• ETRANZACT: down 10.00% to N5.85
• SUNUASSUR: down 9.92% to N4.63
• PRESTIGE: down 8.26% to N1.00
• SOVRENINS: down 7.77% to N0.95
• REDSTAREX: down 7.76% to N5.35

Trading volume

Daily trading volume saw a significant decline, dropping from 750.5 million shares the previous day to 477.5 million, which marks a 36.38% decrease.

• JAIZBANK emerged as a dominant force in trading, with an impressive 197.4 million shares exchanged, closely followed by ZENITHBANK, which recorded 25.9 million shares.
• SOVRENINS also showed strong performance, trading 19.2 million shares.
• PRESTIGE and FIDELITYBK contributed 18.5 million and 15.8 million shares, respectively.

Trading value

Regarding trading value, MTNN stood out as the leading performer, facilitating transactions worth N1.3 billion.

• ZENITHBANK added N1.2 billion to the daily total, while NAHCO and JAIZBANK contributed N626.5 million and N606.1 million, respectively.
• ARADEL rounded off the trading value figures with N501 million.

SWOOT and FUGAZ performance

In the SWOOT category, OANDO experienced a decline of 2.02%.

• Within the FUGAZ sector, GTCO fell by 0.57%, ZENITHBANK also dipped by 0.52%, and UBA shed 0.41%.
• Nevertheless, ACCESSCORP declined by 0.21%, and FIRSTHOLD slipped by 0.17%.

Market outlook

The All-Share Index may be poised for a correction following the bearish trends seen throughout March.

If the market is not deemed overbought, it could present attractive opportunities for investors looking to buy at lower prices.