Cornerstone Insurance ticks 4.2 billion shares as All-Share Index gains 0.02% 

The Nigerian All-Share Index closed Friday, 14th November, on a positive note, adding 32.42 points to finish at 147,013.59.

This marks a 0.02% uptick from the previous day’s close of 146,981.20, reclaiming the 147,000 level.

Market activity strengthened noticeably, with trading volume surging to 4.8 billion shares, a sharp rise from 599 million shares recorded the day before.

Equity capitalization mirrored the upbeat sentiment, climbing to N93.5 trillion across 24,152 deals.

• On the gainers’ chart, PRESTIGE and NCR topped the list, advancing by 9.84% and 9.64%, respectively.
• Meanwhile, UNIONDICON and TRIPPLEG led the laggards, shedding 10.00% and 9.98%.

In terms of market volume, CORNERST (Cornerstone Insurance) dominated activity, trading 4.2 billion shares or 86% of the day’s total turnover.

Market summary  

• Current ASI: 147,013.6
• Previous ASI: 146,981.2
• Day Change: -0.02%
• Year-to-Date Performance: +42.83%
• Volume Traded: 4.89 billion shares
• Market Cap: N93.50 trillion.

Top 5 gainers   

• PRESTIGE: Up 9.84% to N1.34
• NCR: Up 9.64% to N25.60
• GUINEAINS: Up 9.57% to N1.26
• ASOSAVINGS: Up 9.57% to N1.03
• TIP: Up 8.81% to N10.99

Top 5 losers   

• UNIONDICON: Down 10.00% to N6.30
• TRIPPLEG: Down 9.98% to N4.42
• ABCTRANS: Down 9.91% to N3.82
• REGALINS: Down 9.60% to N1.13
• SOVRENINS: Down 7.32% to N2.91

Trading volume 

• CORNEST led the activity chart with an impressive 4.2 billion shares, followed by ACCESSCORP, which traded 132.6 million shares.
• STERLINGNG ranked third with 77.2 million shares, while FIDELITYBK and FCMB completed the top five with 63 million and 57.5 million shares, respectively.

Trading value 

• In terms of transaction value, CORNEST also dominated, recording trades worth N21.3 billion.
• STANBIC followed with N4.3 billion, while ACCESSCORP posted deals totaling N3.03 billion.
• ZENITHBANK traded N1.6 billion, and GTCO rounded out the top five with N1.53 billion in value traded.

SWOOT and FUGAZ Performance 

Stocks Worth Over One Trillion Naira (SWOOTs) closed mixed.

• BUACEMENT gained 3.7%, MTNN advanced 0.64%, ARADEL added 0.38%, and Nigerian Breweries inched up 0.07%.
• On the downside, STANBIC declined by 4.55%.

Among the FUGAZ group, performance was largely negative.

• GTCO fell 2.82%, UBA dropped 2.44%, and ZENITHBANK slipped 0.62%.

ACCESSCORP and FIRSTHOLDCO recorded zero price movement.

Market outlook 

The Nigerian stock market remains on a corrective path after dipping to 141,000 on 11th November, as it continues to target a recovery above the 150,000 mark.

Sustained bullish movements in large- and mid-cap stocks that have recently retraced could help lift the index higher in the coming weeks.