All-Share Index closes at 99,922, eyes 100,000 mark as LIVINGTRUST tops gainers

All-Share Index closes at 99,922, eyes 100,000 mark as LIVINGTRUST tops gainers

The Nigerian All-Share Index (ASI) posted a robust performance on December 16, 2024, climbing 544.57 points to close at 99,922.63—a solid 0.55% gain—as it inches closer to the 100,000-mark.

Investor activity surged, with trading volume reaching an impressive 740 million shares—a 38% increase compared to the previous session.

Market capitalization also maintained its strong footing above the N60 trillion threshold, ending the day at N60.58 trillion, underpinned by 8,464 recorded transactions.

LIVINGTRUST and ROYALEX led the gainers’ chart, both hitting the daily limit of 10.00%, reflecting strong investor confidence in these stocks.

However, it wasn’t all positive, as UPL emerged as the biggest laggard with a sharp 10.00% decline, followed by HMCALL, which dropped 9.81% and 9.62%, respectively, illustrating a mixed sentiment across the market.

On the activity front, STERLINGNG and WEMABANK stood out as the day’s most traded stocks, drawing significant investor interest and contributing to the heightened market turnover.

Market Summary   Current ASI: 99,922.63 pointsPrevious ASI: 99,378.28 pointsDay Change: +0.55%Year-to-Date Performance: +33.63%Volume Traded: 740.8 million sharesMarket cap: N60.58 trillionTop 5 gainers   LIVINGTRUST: up 10.00% to N3.30ROYALEX: up 10.00% to N0.66INTBREW: up 9.90% to N4.55GUINEAINS: up 9.84% to N0.67CAVERTON: up 9.60% to N2.17Top 5 losers   UPL: down 9.81% to N3.77HMCALL: down 9.62% to N4.70INTENEGINS: down 9.52% to N1.33ABCTRANS: down 8.70% to N1.05SOVRENINS: down 8.24% to N0.78Trading volume On December 16, 2024, the Nigerian equities market saw a notable 38% boost in trading volume, with 740 million shares exchanged, surpassing the previous session’s activity.

STERLINGNG led the pack as the most actively traded stock, with an impressive 196.9 million shares exchanged.WEMABANK followed closely with 150.4 million shares traded.ETRANZACT secured third place with 70 million shares.ACCESSCORP contributed 20.4 million shares to the day’s volume.UBA rounded out the top five, recording 17.6 million shares.Trading value In terms of trading value, heavyweight stocks took center stage:

ARADEL led with transactions worth a staggering N8.3 billion.WEMABANK ranked second, attracting N1.3 billion in trades, reflecting strong investor interest.STERLINGNG and OANDO were also notable contributors, recording N955.5 million and N678.8 million, respectively.UBA completed the top five, generating a trading value of N589 million.SWOOT and FUGAZ performance The SWOOT stocks, representing companies with market capitalizations above N1 trillion, recorded mixed performances:

ARADEL led the group with a robust 9.13% gain.OANDO followed closely, appreciating by 5.88%.Among the FUGAZ stocks—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK:

FBNH and ZENITHBANK posted modest gains of 0.68% each.GTCO and ACCESSCORP dipped, shedding 1.79% and 0.62%, respectively.UBA remained flat, closing with no price movement.Outlook  The All-Share Index broke through the 99,500-mark, driven by gains in large-cap stocks. This upward momentum brings the market closer to the eagerly awaited 100,000-point milestone.

With growing investor confidence and strong performances across major sectors, the Nigerian equities market is well-placed to sustain its positive trajectory in the coming days.

Izuchukwu Okoye Okoye Izuchukwu is a financial market writer and trader with extensive expertise in both Nigerian and international markets. With a keen eye for market trends and a passion for insightful analysis, he translates complex financial concepts into engaging content. By combining practical trading experience with thorough research, Okoye offers valuable perspectives that empower readers to make informed decisions in the ever-evolving world of finance.