Cornerstone Insurance powers N25 billion trade as NGX starts October green 

The Nigerian All-Share Index opened October on a positive note, closing the first trading session of the month in the green.

Wrapping at 142,979.46, the index added 269 points, a 0.19% gain over its previous close of 142,710.50.

Trading activity was vibrant, with market volume surging to 6.23 billion shares, a sharp leap from the 1.24 billion shares exchanged the previous day.

• A significant boost came from CORNERSTONE INSURANCE, which alone accounted for 5.4 billion shares traded.

Reflecting the bullish sentiment, equity capitalization climbed to N90.7 trillion across 32,682 deals, up from N90.5 trillion in the last session.

• On the gainers’ chart, PZ CUSSONS led with a 10.00% jump, closely followed by ETERNA PLC, which rose 9.94%.
• On the flip side, RT BRISCOE and THOMAS WYATT topped the losers’ list, shedding 9.89% and 9.82% respectively.

In terms of trading activity, CORNERSTONE INSURANCE and UBA were the most active stocks of the day.

CORNERSTONE INSURANCE also topped the value chart with trades worth over N25 billion.

Market summary  

• Current ASI: 142,979.4
• Previous ASI: 142,710.5
• Day Change: +0.19%
• Year-to-Date Performance: +38.91%
• Volume Traded: 6.2 billion shares
• Market Cap: N90.75 trillion

Top 5 gainers

• PZ: Up 10.00% to N37.95
• ETERNA: Up 9.94% to N37.05
• CHAMPION: Up 9.82% to N15.10
• TANTALIZER: Up 5.96% to N2.49
• AIICO: Up 5.43% to N3.69

Top 5 losers 

• RTBRISCOE: Down 9.89% to N3.37
• THOMASWY: Down 9.82% to N3.58
• SOVRENINS: Down 9.33% to N2.72
• INTENEGINS: Down 7.78% to N3.08
• BERGER: Down 4.70% to N36.20

Trading volume 

Market activity surged to 6.23 billion shares, a sharp jump from 1.24 billion shares in the previous session.

• CORNERSTONE INSURANCE led with 5.4 billion shares, followed by UBA with 152.1 million.
• WEMA BANK ranked third at 152 million shares, while FIRSTHOLDCO and ZENITH BANK completed the top five with 111.7 million and 47 million shares, respectively.

Trading value 

• In terms of value, CORNERSTONE INSURANCE also led with trades worth N25.06 billion.
• UBA followed at N6.5 billion, while FIRSTHOLDCO recorded N3.48 billion.
• STANBIC IBTC posted N3.41 billion, and ZENITH BANK closed with N3.2 billion.

SWOOT Performance 

Stocks Worth Over One Trillion Naira (SWOOTs) showed mixed results.

• NIGERIAN BREWERIES gained 1.71%, MTNN added 0.47%, and ARADEL inched up 0.07%.
• On the downside, LAFARGE fell 0.08%.

FUGAZ 

• Among the FUGAZ stocks, GTCO rose 2.13% and ACCESSCORP gained 0.58%, while ZENITH BANK closed flat.
• FIRSTHOLDCO declined 1.59% and UBA slipped 0.46%.

Market outlook 

The All-Share Index is riding a mild bullish wave that could push it past 143,000 points if upward momentum resumes in October.

Expectations around Q3 earnings may fuel stronger gains, and if heavyweight stocks rally ahead of results, the index could climb back toward 145,000 points.