Nigerian stock market closes positive on Monday, as ASI gains 0.19% 

The Nigerian stock market ended positively on October 7, 2024, with the All-Share Index (ASI) advancing by 0.19%.

ASI gained 186.16 points, closing at 97,706.70, despite a 3.7% dip in market volume, which dropped to 308 million shares from the 320 million shares recorded last Friday.

Strong gains in FIDELITYBK sustained momentum throughout the day, while TANTALIZER led in trading volume, closely followed by UBA.

FIDELITYBK emerged as the top performer with a 10.00% increase, while LIVESTOCK trailed with a 9.76% rise. Conversely, SCOA faced the steepest decline, falling by 10.00%, while BERGER and TRIPPLEG also recorded notable losses of 9.95% and 9.64%, respectively.

Market Summary 

• Current ASI: 97,706.70 points
• Previous ASI: 97,520.54 points
• Day Change: +0.19%
• Year-to-Date Performance: +30.66%
• Volume Traded: 308 million shares
• Deals: 10,424

Top 5 Gainers 

• FIDELITYBK: up 10.00% to N14.30
• LIVESTOCK: up 9.76% to N3.60
• ABCTRANS: up 9.76% to N1.35
• REGALINS: up 8.70% to N0.50
• ELLAHLAKES: up 8.44% to N4.88

Top 5 Losers 

• SCOA: down 10.00% to N1.71
• BERGER: down 9.95% to N19.00
• TRIPPLEG: down 9.64% to N2.25
• GUINEAINS: down 8.33% to N0.44
• THOMASWY: down 7.58% to N1.83

Trading Volume 

The market saw robust trading activity, with 308 million shares changing hands—a 3% decline from the previous session’s 320 million shares.

TANTALIZERS led in volume with 1.0 billion shares traded, followed by UBA with 38.11 million shares. Other active stocks included ACCESSCORP (23.35 million shares), CAVERTON (21.63 million shares), and GTCO (16.03 million shares).

Trading Value 

In terms of trading value, UBA emerged as the leader with transactions totaling N1.06 billion. GTCO came in next, with shares traded amounting to N776.44 million.

Meanwhile, ACCESSCORP and TANTALIZERS each made significant contributions, with trading values of N450.63 million. OANDO also saw considerable activity, recording transactions worth N400.99 million.

SWOOT and FUGAZ Performance 

• Among the SWOOTs, price movements were mostly stable, with AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, SEPLAT, and DANGOTE CEMENT remaining unchanged.

• However, MTNN saw a gain of 0.42%, leading the group.

• In the FUGAZ category, FBNH and UBA recorded modest gains of 1.60% and 2.38%, respectively. ZENITH BANK remained unchanged, while GTCO and ACCESS saw slight declines of 0.20% and 2.25%.

Market Outlook 

With the ASI rebounding from its recent downturn, there is potential for the index to surpass the 99,000-point mark in the coming weeks.

A renewed push from the banking, oil and gas, and insurance sectors is expected to drive this positive momentum throughout the week ahead.