All-Share Index gains 0.13% as market volume rises to 304 million shares 

The Nigerian stock market closed on a positive note on October 11, 2024, with the All-Share Index (ASI) advancing by 0.13%, adding 129.44 points to settle at 97,606.63.

Trading activity saw a notable uptick, rising by 9% as the volume of shares traded increased from 277 million shares the previous day to 304 million shares.

The market recorded a total of 6,950 deals, with a market capitalization of N56.08 trillion.

STERLINGNG and CONHALLPLC stood out with impressive gains throughout the trading session, while ACCESSCORP, FIDELITYBK, and UBA dominated in trading volume.

Among the day’s top gainers, STERLINGNG led with a 9.47% surge, followed closely by CONHALLPLC, which gained 9.45%.

On the downside, DEAPCAP recorded the sharpest loss, tumbling 9.93%. NEM and DAARCOMM also faced significant setbacks, declining by 9.71% and 9.52%, respectively.

Market Summary  

• Current ASI: 97,606.63 points

• Previous ASI: 97,477.19 points

• Day Change: +0.13%

• Year-to-Date Performance: +30.53%

• Volume Traded: 304 million shares

• Deals: 6,950

Top 5 Gainers  

• STERLINGNG: up 9.45% to N4.98

• CONHALLPLC: up 9.45% to N1.39

• MECURE: up 1.39% to N10.10

• REGALINS: up 9.09% to N0.72

• FIDSON: up 8.24% to N15.10

Top 5 Losers  

• DEAPCAP: down 9.93% to N1.36

• NEM: down 9.71% to N7.90

• DAARCOMM: down 9.52% to N0.57

• TANTALIZER: down 9.09% to N0.60

• DANGSUGAR: down 3.13% to N31.00

Trading Volume 

The market saw a notable uptick in trading volume, with 304 million shares exchanging hands—up 9% from the previous session’s 277 million shares.

ACCESSCORP led the way, with 68.25 million shares traded, followed by FIDELITYBK at 43.15 million shares.

Other active players included UBA with 25.43 million shares, ZENITHBANK with 19.73 million shares, and STERLINGNG, which saw 12.45 million shares traded.

Trading Value 

In terms of trading value, ACCESSCORP topped the charts with transactions totaling N1.3 billion, while ZENITH BANK followed closely with a trading value of N739.1 million.

UBA and FIDELITYBK also demonstrated strong performance, posting values of N675.9 million and N630.12 million, respectively. GTCO rounded out the top with deals amounting to N502.61 million.

SWOOT and FUGAZ Performance 

The SWOOT stocks—AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, SEPLAT, and DANGOTE CEMENT—remained steady.

In contrast, some FUGAZ stocks experienced mixed outcomes. UBA and ZENITHBANK registered minor declines, slipping by 0.19% and 0.13%, respectively.

Meanwhile, GTCO, FBNH, and ACCESSCORP posted gains, rising by 2.19%, 1.76%, and 1.29%, respectively.

Outlook 

Looking ahead, the All-Share Index is projected to maintain its bullish momentum, with expectations of breaking above the 99,000-point mark in the coming weeks.

As positive sentiment continues to build around large-cap stocks, the index is likely to experience further upward movement, driven by favorable price trends.