2 weeks Ago By Izuchukwu Okoye
The Nigerian All-Share Index (ASI) ended the day on a bearish note, retreating by 556.37 points to close at 96,567.24.
This marks a reversal from the previous day’s bullish close, underscoring a 0.57% decline driven by subdued market activity. The index’s downward trajectory was accompanied by a 22.
63% drop in trading volumes to 418 million shares across 9,021 deals, down from 540 million shares the previous day, bringing the market’s capitalization to N58.5 trillion. Related Stories Oando Plc reports N45.
5 billion in pre-tax profits, as Supply and Trading Business boost N2 trillion topline revenue in first half of 2024 Market Wrap: JOHNHOLT tops gainers as All-Share Index slips below 97,500; ARADEL and ELLAHLAKES lead decliners In the day’s performance highlights, EUNISELL emerged as the top gainer, rallying by an impressive 9.87%, while REGALINS and VERITASKAP followed suit, advancing by 9.30% and 9.
17%, respectively. Conversely, the losers’ chart was dominated by UBA and OANDO, which shed 9.99% and 9.
98%, respectively, signaling notable sell-offs. STERLINGNG and UBA led trading activity with the highest volumes of the day, reflecting strong investor interest despite the market’s bearish trend. Market Summary Current ASI: 96,567.
24 points Previous ASI: 97,123.61 points Day Change: -0.57% Year-to-Date Performance: +29.
15% Volume Traded: 418 million shares Deals: 9,021 Top 5 Gainers EUNISELL: up 9.87% to N7.46 REGALINS: up 9.
30% to N0.47 VERITASKAP: up 9.17% to N1.
31 DAARCOMM: up 8.93% to N0.61 FCMB: up 7.
73% to N9.75 Top 5 Losers UBA: down 9.99% to N31.
55 OANDO: down 9.98% to N65.40 THOMASWY: down 9.
79% to N1.75 NASCON: down 7.83% to N30.
00 LASACO: down 7.50% to N2.22 The trading volume for the day declined by 22.
63%, with 418 million shares exchanged across the market compared to 540 million shares the previous day. STERLINGNG led the pack with 79.6 million shares traded, closely followed by UBA with 78.
9 million shares. Other actively traded stocks included ACCESSCORP at 44.3 million shares, JAIZBANK with 43.
6 million shares, and VERITASKAP, which saw 25.2 million shares change hands. In terms of value, UBA dominated with transactions worth N2.
56 billion. SEPLAT came in second, recording trade valued at N1.3 billion.
ARADEL and ACCESSCORP also posted significant trading values of N1.2 billion and N1.06 billion, respectively, while ZENITHBANK rounded out the top five with trades worth N881.
15 million. Among SWOOT stocks, AIRTELAFRI experienced a 1.96% decline, while the rest of the category remained unchanged.
In the FUGAZ group, UBA led the losers, dropping by 9.99%, while GTCO and ZENITHBANK slipped by 1.91% and 0.
81%, respectively. On the other hand, FBNH and ACCESSCORP posted gains of 1.65% and 2.
12%, respectively, showcasing some resilience within the category. With the All-Share Index reversing into negative territory, the market appears to be undergoing a retracement phase within its broader bullish trend. A continued focus on consolidation in key large-cap stocks could set the stage for a potential rally in the coming weeks, as investor sentiment stabilizes and buying momentum builds.
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