All-Share Index nears 100,500-mark as MRS (Chevron) tops gainers, AFRIPRUD leads losers 

The Nigerian All-Share Index (ASI) surged on December 18, 2024, climbing 426.52 points to close at 100,477.46—a solid 0.43% gain—as it eyes the 100,500-barrier.

However, amid this rise in price, market volume declined from 477 million shares to 389 million shares, reflecting an 18.45% drop compared to the last trading session.

Market capitalization also maintained its strong footing above the N60 trillion threshold, ending the day at N60.9 trillion, underpinned by 9,573 deals.

MRS and LEARNAFRCA led the gainers’ chart, both hitting 9.99% and 9.97%, respectively.

However, it was not all positive, as AFRIPRUD emerged as the biggest laggard with a sharp 10.00% decline, followed by TANTALIZER, which dropped 9.96%, illustrating mixed sentiment across the market.

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

Market Summary  Current ASI: 100,477.46 pointsPrevious ASI: 100,050.94 pointsDay Change: +0.43%Year-to-Date Performance: +34.38%Volume Traded: 389.7 million sharesMarket cap: N60.9 trillionTop 5 gainers  MRS: up 9.99% to N159.70.LEARNAFRCA: up 9.97% to N3.53INTENEGINS: up 9.77% to N1.46WAPIC: up 9.74% to N1.69LIVESTOCK: up 9.73% to N3.72Top 5 losers  AFRIPRUD: down 10.00% to N14.40JOHNHOLT: down 9.96% to N6.51GUINEANS: down 8.33% to N0.66DEAPCAP: down 5.26% to N1.08CONHALLPLC: down 4.17% to N2.30Trading Volume Despite the market’s overall positive trajectory, trading volume saw a sharp decline of 18.45%, with 389 million shares exchanged compared to the previous session.

STERLINGNG emerged as the leader in trading volume with 43.5 million shares.UBA followed, maintaining strong momentum with 26.2 million shares traded.FIDELITYBK secured the third spot with 25.6 million shares.UNIVINSURE contributed 18.4 million shares to the day’s total.AIICO rounded out the top five with 16.2 million shares.Trading Value Heavyweight stocks dominated trading by value, attracting robust institutional activity:

ARADEL led with transactions worth N1.5 billion, signaling strong investor confidence.UBA followed closely with trades valued at N874.9 million.OANDO and ZENITHBANK recorded trading values of N775.5 million and N706.6 million, respectively.SEPLAT completed the top five with N675.9 million in transactions.SWOOT and FUGAZ Performance ARADEL delivered a strong performance with a 5.35% gain.OANDO also recorded growth, rising 2.92%.FUGAZ stocks (FBNH, UBA, GTCO, ACCESSCORP, ZENITHBANK): FBNH declined by 2.04%.ZENITHBANK, ACCESSCORP, GTCO, and UBA recorded gains of 1.59%, 1.27%, 0.86%, and 0.15%, respectively.Outlook The Nigerian All-Share Index remains on a strong upward trajectory, closing at 100,477.46 points as it eyes the critical 100,500-point barrier.

Gains in mid- and large-cap stocks might continue to push market capitalization upward, as bullish price action persists.

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.