The Nigerian All-Share Index (ASI) fell by 0.07%, down 64.88 points to close at 98,458.68, even as market volume surged, on September 27, 2024.
Notably, stocks like BETAGLASS and MEYER achieved remarkable gains, both rising over 9%, while JAPAULGOLD led in trading volume.
A total of 797 million shares changed hands, marking a significant 131% increase from the 344 million traded the previous day, across 7,764 transactions.
BETAGLASS emerged as the top performer, climbing 10.00%, followed closely by MEYER, which gained 9.93%.
On the downside, CAVERTON experienced the largest decline, dropping 9.76%, while NNFM and UPL also saw notable losses of 9.50% and 8.85%, respectively.
Market Snapshot
- Current ASI: 98,458.68 points
- Previous ASI: 98,523.58 points
- Year-to-Date Performance: +31.67%
- Volume Traded: 797 million shares
Top 5 Gainers
- BETAGLAS: up 10.00% to N48.95
- MEYER: up 9.93% to N7.75
- DEAPCAP: up 9.90% to N1.11
- ELLAHLAKES: up 9.82% to N4.92
- ABBEYBDS: up 9.65% to N2.50
Top 5 losers
- CAVERTON: down 9.76% to N2.68
- NNFM: down 9.39% to N17.85
- UPL: down 8.85% to N2.37
- MCNICHOLS: down 8.57% to N1.60
- ABCTRANS: down 7.83% to N1.15
Trading Volume
Today, trading volume surged to 797 million shares, a notable rise from the 344 million shares reported on Thursday.
JAPAULGOLD dominated the market with an impressive 591.2 million shares traded, followed by UBA with 27.8 million shares.
Other significant transactions included ZENITHBANK with 11.7 million shares, ACCESSCORP at 11.4 million shares, and TRANSCORP, which experienced 106.6 million shares changing hands.
Trading Value
In terms of trading value, JAPAULGOLD led the pack with an outstanding N1.4 billion in transactions, while OANDO closely trailed with N771.63 billion.
Other noteworthy contributions came from SEPLAT with N745 million, UBA at N717 million, and ZENITHBANK, which attracted N442 million.
SWOOT and FUGAZ Update
- Large-cap stocks, including Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transcorp Power, remained stable.
- Meanwhile, OANDO experienced a notable increase in its share price, climbing by 3.01%.
- In contrast, within the FUGAZ group, FBNH and ZENITHBANK encountered slight setbacks, with declines of 4.58% and 0.13%, respectively.
- Both ACCESSCORP and UBA maintained their positions without any fluctuations, remaining steady at 0.00%.
- Conversely, GTCO managed to achieve a modest yet positive increase of 1.94%.
Outlook
Despite today’s dip, the index is showing signs of a potential correction that could push it past the 99,000-mark, currently holding steady around 98,000.
Positive movements from large-cap stocks within the index may be instrumental in driving it forward.