The Nigerian All-Share Index (ASI) surged on December 17, 2024, climbing 128.31 points to close at 100,050.94—a solid 0.13% gain—finally closing above the 100,000-barrier.
However, amid this rise in price, market volume declined from 740 million shares reported the previous day to 477.8 million shares, reflecting a 35.49% decline from what was recorded the previous trading day.
Market capitalization also maintained its strong footing above the N60 trillion threshold, ending the day at N60.6 trillion, underpinned by 9,578 recorded transactions.
MRS and WAPIC led the gainers’ chart, both hitting the daily limit of 10.00%, reflecting strong investor confidence in these stocks.
However, it was not all positive, as CUTIX emerged as the biggest laggard with a sharp 10.00% decline, followed by TANTALIZER, which dropped 9.73%, illustrating a mixed sentiment across the market.
On the activity front, ETRANZACT and TRANSCOHOT stood out as the day’s most traded stocks, drawing significant investor interest and contributing to the heightened market turnover.
Market Summary
- Current ASI: 100,050.94 points
- Previous ASI: 99,922.63 points
- Day Change: +0.13%
- Year-to-Date Performance: +33.8%
- Volume Traded: 477.8 million shares
- Market cap: N60.6 trillion
Top 5 gainers
- MRS: up 10.00% to N145.20.
- WAPIC: up 10.00% to N1.54
- CAVERTON: up 9.68% to N2.38
- LASACO: up 9.41% to N2.79
- ROYALEX: up 9.09% to N0.72
Top 5 losers
- CUTIX: down 10.00% to N2.25
- TANTALIZER: down 9.73% to N1.67
- DAARCOMM: down 7.02% to N0.53
- OANDO: down 6.10% to N68.50
- FTNCOCOA: down 5.88% to N1.76
Trading volume
Despite bullish price action, the Nigerian equities market witnessed a significant decline in trading volume, dropping 35.49% to 477.8 million shares compared to the previous session.
- ETRANZACT emerged as the day’s most actively traded stock, leading the charts with an impressive 70.2 million shares exchanged.
- Close behind, TRANSCORP maintained strong momentum with 69.9 million shares traded.
- OANDO secured third place, recording 26.4 million shares, while VERITASKAP added 21.3 million shares to the day’s total.
- Rounding out the top five, STERLINGNG registered 19.3 million shares in trade.
Trading value
Heavyweight stocks dominated investor attention.
- TRANSCOHOT took the spotlight, leading the market with transactions worth a staggering N7.4 billion, signaling robust institutional activity.
- ARADEL followed closely, attracting significant trade valued at N6.5 billion, a clear indication of strong investor confidence.
- Meanwhile, OANDO and SEPLAT made notable contributions, recording trading values of N1.8 billion and N1.2 billion, respectively.
- Closing out of the top five, ZENITHBANK maintained steady interest, generating N615.1 million in trade.
SWOOT and FUGAZ performance
The SWOOT stocks—companies with market capitalizations exceeding N1 trillion—delivered a mixed performance:
- ARADEL led the group with a robust 5.0% gain, reflecting strong investor interest.
- In contrast, OANDO declined sharply, shedding 6.1%.
Among the FUGAZ stocks—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK—performance was similarly mixed:
- GTCO emerged as the day’s top performer, gaining 0.96%.
- However, ACCESSCORP, ZENITHBANK, and UBA recorded losses of 1.67%, 0.68%, and 0.15%, respectively.
- FBNH recorded no movements.
Outlook
The All-Share Index’s breakthrough of the 100,000-point barrier reflects strong momentum driven by gains in mid- and large-cap stocks, pushing the market capitalization to N60.6 trillion.
If this positive trend persists, the index is likely to test the 100,500-point zone in the near term, supported by sustained investor confidence and bullish sentiment.