The Nigerian All-Share Index (ASI) closed the trading session on November 22, 2024, in negative territory, shedding 163.53 points to settle at 97,829.02—a modest decline of 0.17%.
Adding to the subdued performance, trading volume fell by 21.60%, with only 366 million shares exchanged—a significant drop from the 467 million shares traded in the previous session.
On the gainers’ chart, EUNISELL emerged as the star performer, surging by 9.99% to claim the top spot.
Following closely were AUSTINLAZ and HMCALL, which posted impressive gains of 9.92% and 9.91%, respectively, showcasing strong investor confidence in these equities.
Conversely, the decliners’ list was led by MECURE and MULTIVERSE, which faced sharp losses of 9.83% and 9.03%, respectively, as bearish sentiment weighed heavily on their prices.
In terms of activity, FBN Holdings (FBNH) and Guinea Insurance (GUINEAINS) commanded the trading floor, emerging as the most actively traded stocks of the day.
Market Summary
- Current ASI: 97,829.02 points
- Previous ASI: 97,992.55 points
- Day Change: -0.17%
- Year-to-Date Performance: +30.83%
- Volume Traded: 366 million shares
- Deals: 9,677
Top 5 gainers
- EUNISELL: up 9.99% to N19.27
- AUSTINLAZ: up 9.92% to N2.66
- HMCALL: up 9.91% to N5.10
- THOMASWY: up 9.77% to N1.91
- TANTALIZER: up 9.26% to N1.18
Top 5 losers
- MECURE: down 9.83% to N10.55
- MULTIVERSE: down 9.03% to N6.55
- DAARCOMM: down 8.82% to N0.62
- FBNH: down 5.75% to N25.40
- WAPCO: down 5.26% to N54.00
Trading volume
Activity in the Nigerian equities market softened as daily trading volume dipped by 21.60%. Investors exchanged 366 million shares, a significant drop from the 467 million shares recorded in the previous session, signalling reduced market engagement.
- FBN Holdings (FBNH) dominated the trading session, with an impressive 42.4 million shares changing hands, cementing its position as the day’s most actively traded stock.
- Hot on its heels was Guinea Insurance (GUINEAINS), which saw 34.9 million shares traded.
- Other notable players in the volume chart included PRESTIGE with 27 million shares, CUTIX with 21.9 million shares, and ZENITHBANK, which rounded out the top five with 15.7 million shares.
Trading value
- On the value front, FBNH also claimed the spotlight, driving trade worth a substantial N1.1 billion. UBA followed, recording an impressive N466.7 million in transaction value.
- ARADEL and ZENITHBANK demonstrated robust investor interest, contributing N465.8 million and N455.2 million, respectively, to the day’s trading value.
- WAPCO rounded out the top five, attracting transactions worth N437.5 million, underscoring its continued appeal among investors.
SWOOT and FUGAZ Stocks
- In the SWOOT category—featuring stocks with market capitalizations exceeding N1 trillion—OANDO emerged as the lone gainer, advancing by 1.67%.
On the other hand, the FUGAZ stocks, which include FBN Holdings (FBNH), United Bank for Africa (UBA), Access Holdings (ACCESSCORP), and Zenith Bank (ZENITHBANK), ended the session in the red.
- FBNH led the declines with a significant drop of 5.75%, followed by UBA and ACCESSCORP, which slipped by 1.67% and 0.43%, respectively.
- Notably, GTCO saw no price movement, maintaining a flat close.
Outlook
Despite the day’s decline, the Nigerian equity market shows strong potential for recovery, supported by sustained rallies and solid Q3 earnings across various sectors, which are expected to drive upward momentum.
This, in turn, could bolster broader market participation and set the stage for gains in upcoming sessions.