Nigerian stock market rallies as ASI climbs to 98,540 points, despite lower trading volume 

The Nigerian stock market maintained its upward trajectory as the All-Share Index (ASI) climbed by 325.80 points, closing the trading day at 98,540.93 points.

This marked yet another positive session, representing a 0.33% gain compared to the previous close of 98,215.13 points.

Notably, this gain was achieved despite a dip in market volume, which fell to 286 million shares from the 304.9 million shares exchanged the day before.

The day’s trading took place across 9,650 deals, with a total market capitalization of N59.70 trillion.

Among the standout performers of the session were CHAMPION and TANTALIZER, both recording remarkable gains. Meanwhile, ACCESSCORP, ZENITHBANK, and ARADEL emerged as leaders in trading volume.

Leading the charge among the top gainers, CHAMPION surged by 9.97%, closely followed by TANTALIZER with a 9.09% rise.

On the other hand, the day’s biggest loser was CAVERTON, which plummeted by 10.00%. TRIPPLEG and CILEASING also faced substantial losses, with declines of 9.95% and 9.80%, respectively.

Market Summary 

Current ASI: 98,540.93 pointsPrevious ASI: 98,215.13 pointsDay Change: +0.33%Year-to-Date Performance: +31.78%Volume Traded: 286 million sharesDeals: 9,650Top 5 Gainers CHAMPION: up 9.97% to N3.42TANTALIZER: up 9.09% to N0.60OANDO: up 7.93% to N77.60ARADEL: up 6.09% to N820.00ETERNA: up 4.86% to N25.90Top 5 Losers CAVERTON: down 10.00% to N2.34TRIPPLEG: down 9.95% to N1.81CILEASING: down 9.80% to N3.59JAIZBANK: down 9.21% to N2.17DEAPCAP: down 9.09% to N1.20Trading Volume Trading volume fell slightly, with 286 million shares changing hands, representing a 5.9% drop from the previous day’s 304.9 million shares.

ACCESSCORP led the volume charts with 45.94 million shares traded, followed by ZENITHBANK with 30.37 million shares.

ARADEL, UBA, and VERITASKAP were also among the top contenders, recording 25.02 million, 16.86 million, and 15.13 million shares traded, respectively.

Trading Value: In terms of trading value, ARADEL led the pack with transactions totaling a significant N20.7 billion.

SEPLAT followed with N1.17 million in trade value, while ZENITHBANK and ACCESSCORP posted values of N1.13 million and N928.50 million, respectively. OANDO completed the list with deals worth N773.51 million.

SWOOT and FUGAZ Performance: The SWOOT stocks—AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, SEPLAT, and DANGOTE CEMENT—remained relatively stable throughout the session.

However, FUGAZ stocks experienced mixed results. GTCO and ACCESSCORP slipped by 3.21% and 1.28%, respectively.

ZENITHBANK saw no movement, while UBA fell sharply by 7.55% and FBNH dipped slightly by 0.76%.

Outlook: Looking ahead, the All-Share Index is expected to continue its bullish momentum, potentially surpassing the 99,000-point threshold in the coming sessions.

With favorable fundamentals and positive third-quarter results rolling in, investor sentiment is likely to remain tilted towards the buyside, particularly for large-cap stocks, providing further upward pressure on the index.