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The Nigerian All-Share Index (ASI) dropped by 1.19% on October 3, 2024, shedding 1,167.97 points to close at 97,064.42, as market volume declined by 37%.
Despite the overall market downturn, some individual stocks, including SEPLAT and LIVESTOCK, posted significant gains of over 9%, with 8,565 deals executed during the trading session.
Trading volume fell to 268 million shares, representing a sharp drop from the 425 million shares traded the previous day.
SEPLAT stood out as the top-performing stock of the day, posting a 10.00% increase, followed closely by LIVESTOCK with a 9.93% gain.
Conversely, DANGCEM experienced the largest decline, dropping 10.00%, while MCNICHOLS and NSLTECH also saw significant losses of 10.00% and 7.58%, respectively.
Market Summary
Current ASI: 97,064.42 points
Previous ASI: 98,232.39 points
Day Change: -1.19%
Year-to-Date Performance: +29.81%
Volume Traded: 268 million shares
Deals: 8,565
Top 5 Gainers
SEPLAT: up 10.00% to N4,513.40
LIVESTOCK: up 9.93% to N2.99
REGALINS: up 9.76% to N0.90
CAVERTON: up 9.63% to N2.39
MANSARD: up 7.82% to N5.93
Top 5 Losers
DANGCEM: down 10.00% to N478.80
MCNICHOLS: down 10.00% to N1.35
NSLTECH: down 7.58% to N0.61
UPDCREIT: down 4.72% to N5.05
CWG: down 4.62% to N6.20
Trading Volume
The market saw a drop-in trading activity, with a total of 268 million shares traded, down from 425 million shares recorded the day before.
UBA led in terms of volume with 37.09 million shares traded, followed by ZENITHBANK with 19.01 million shares.
Other significant trades included DEADCAP with 13.89 million shares, STERLINGNG with 13.06 million shares, and CAVERTON, which saw 12.09 million shares change hands.
Trading Value
In terms of trading value, SEPLAT was the frontrunner with N2.33 billion in transactions, while UBA followed closely with N993.99 million shares.
Other notable contributions came from ZENITHBANK with N716.65 million, OANDO at N353.34 million, and TRANSPOWER, which printed N270.24 million.
SWOOT and FUGAZ Performance
- Among the large-cap stocks classified under the SWOOTs, price movements remained stable for AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, and SEPLAT ENERGY, with no changes recorded.
- However, MTNN posted a modest gain of 0.16%, while DANGOTE CEMENT fell by 10.00%.
- Among the FUGAZ stocks GTCO rose by 1.78%, and ACCESS BANK gained 1.27%.
- UBA remained flat with no price movement, while FBNH and ZENITH declined by 4.26% and 0.13%, respectively.
Market Outlook
The All-Share Index is facing slight bearish pressure, having closed in negative territory for two consecutive sessions. However, there is potential for a recovery, particularly if buying sentiment strengthens in large-cap stocks.
A renewed push could see the index break back above the 99,000-point mark, especially if key sectors regain momentum.
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