Market wrap: All-Share Index decline 0.24% amid vibrant trading activity, AUSTINLAZ tops gainers 

The Nigerian All-Share Index (ASI) wrapped up the trading session on November 21, 2024, in the red, shedding 234.95 points to close at 97,992.55.

This represents a 0.24% decline, marking a modest retreat for the broader market as bearish sentiment prevailed.

Despite the market downturn, trading activity remained vibrant, with investors exchanging an impressive 467 million shares—a robust 26.22% increase from the previous session’s 370 million shares—executed across 10,659 deals.

On the gainers’ chart, AUSTINLAZ took center stage, rallying 10.00% to emerge as the day’s top performer. Hot on its heels were EUNISELL and HMCALL, which posted substantial gains of 9.98% and 9.95%, respectively, underscoring notable investor confidence in these equities.

On the flip side, the bears left their mark as WAPIC and UPL led the decliners’ list, shedding 9.82% and 9.09%, respectively, reflecting significant downward pressure on their prices.

Meanwhile, in terms of trading volume, FBNH and TANTALIZER stole the spotlight as the most actively traded stocks of the day, commanding heightened investor attention and substantial transaction volumes.

Market Summary Current ASI: 97,992.55 pointsPrevious ASI: 98,227.5 pointsDay Change: -0.24%Year-to-Date Performance: +31.05%Volume Traded: 467 million sharesDeals: 10,659Top 5 gainers  AUSTINLAZ: up 10.00% to N2.42EUNISELL: up 9.98% to N17.52HMCALL: up 9.95% to N9.95HONYFLOUR: up 9.93% to N4.98EUNISELL: up 9.93% to N2.99Top 5 losers WAPIC: down 9.82% to N1.01UPL: down 9.09% to N3.50SOVRENINS: down 8.96% to N0.61UNIVINSURE: down 8.82% to N0.31JAPAULGOLD: down 8.26% to N2.11Trading volume The Nigerian equities market witnessed a notable uptick in activity as daily trading volume surged by 26.22%. Investors exchanged 467 million shares, a significant increase from the 370 million shares recorded in the previous session.

FBN Holdings (FBNH) led the trading session with a remarkable 51.1 million shares changing hands, while TANTALIZER followed closely with 48.7 million shares.

Other notable performers included WAPCO, FIDELITYBK, and ZENITHBANK, which rounded out the top five with 39.6 million, 26.6 million, and 22.3 million shares traded, respectively.

Trading value In terms of transaction value, WAPCO emerged as the dominant player, generating a commanding N2.3 billion in trades.

FBNH followed with a solid N1.3 billion, while ZENITHBANK and OANDO secured N997.76 million and N585.6 million, respectively.

FIDELITYBK completed the top five, attracting trading activities worth N429.9 million, demonstrating strong investor interest.

SWOOT and FUGAZ Stocks In the SWOOT category—comprising stocks with market capitalizations exceeding N1 trillion—OANDO and ARADEL were the session’s sole movers, shedding 5.59% and 1.5%, respectively.

Meanwhile, the FUGAZ stocks, which include FBNH, UBA, GTCO, Access Holdings (ACCESSCORP), and ZENITHBANK, all closed in the red.

ACCESSCORP recorded the steepest decline, falling by 3.36%, followed by GTCO and UBA, which dropped 2.50% and 1.64%, respectively.ZENITHBANK and FBNH also edged lower, losing 0.89% and 0.55%, respectively.Outlook Despite the day’s decline, the Nigerian equity market remains positioned for potential gains.

Sustained rallies, driven by robust investor sentiment and strong Q3 earnings across multiple sectors, are expected to support upward momentum and attract broader market participation in the coming sessions.