AfriPulse
The Nigerian All-Share Index extended its bullish momentum on Friday 17th October, gaining 622.7 points to close at 148,977.8, edging closer to the 149,000-mark.
This represents a 0.42% increase from 148,355.1 recorded in the previous session, accompanied by a modest rise in market activity.
Trading volume strengthened to 480 million shares, compared to 432 million shares traded the day before, while market capitalization climbed to N94.5 trillion from N94.1 trillion.
EUNISELL and UPDC emerged as the day’s top gainers, appreciating by 10.00% and 9.92%, respectively. Conversely, LIVINGTRUST and INTENEGINS declined by 10.00% and 8.39%.
On the volume front, UBA and ACCESSCORP dominated trading, accounting for the highest share exchanges of the day.
Market summary
- Current ASI: 148,977.8
- Previous ASI: 148,355.1
- Day Change: +0.42%
- Year-to-Date Performance: +44.74%
- Volume Traded: 480.8 million shares
- Market Cap: N94.5 trillion.
Top 5 gainers
- EUNISELL: Up 10.00% to N48.90
- UPDC: Up 9.92% to N6.98
- SOVRENINS: Up 9.51% to N3.57
- UNIVINSURE: Up 9.09% to N1.20
- DAARCOMM: Up 8.74% to N1.12
Top 5 losers
- LIVINGTRUST: Down 10.00% to N4.50
- INTENEGINS: Down 8.39% to N2.73
- CONHALLPLC: Down 6.29% to N4.47
- STERLINGNG: Down 4.88% to N7.80
- WAPIC: Down 4.55% to N3.15
Trading volume
Trading volume rose to 480 million shares, up from 432 million shares exchanged in the previous session.
- UBA led activity with 59.1 million shares, followed closely by ACCESSCORP with 50.3 million.
- FIDELITYBK ranked third with 46.9 million shares, while SOVRENINS and TANTALIZER completed the top five with 34.2 million and 24.5 million shares, respectively.
Trading value
- In terms of value, DANGCEM topped the chart with trades worth N2.6 billion.
- UBA followed closely with N2.4 billion, while ACCESSCORP recorded N1.2 billion.
- MTNN posted N1.16 billion, and FIDELITYBK rounded off the top five with N944 million.
SWOOT and FUGAZ performance
Stocks Worth Over One Trillion Naira (SWOOTs) closed mixed.
- BUA FOODS gained 3.22%, LAFARGE rose 1.88%, STANBIC IBTC added 0.81%.
- MTNN appreciated 0.66%, and DANGOTE CEMENT advanced slightly by 0.03%.
On the other hand, INTBREW shed 3.33%, NB declined 0.78%, and FIDELITYBK fell 0.50%.
Among the FUGAZ stocks:
- ZENITHBANK gained 0.22%, while UBA closed flat.
- FIRSTHOLDCO lost 1.88%, ACCESSCORP climbed 0.58%, and GTCO slipped 0.21%.
Market outlook
The All-Share Index remains strongly bullish as it edges closer to the 149,000-point barrier.
With third-quarter results around the corner, sustained positive sentiment and strong earnings expectations are likely to drive the index even higher in the coming sessions.
Izuchukwu Okoye
Okoye Izuchukwu is a financial market writer and trader with extensive expertise in both Nigerian and international markets. With a keen eye for market trends and a passion for insightful analysis, he translates complex financial concepts into engaging content. By combining practical trading experience with thorough research, Okoye offers valuable perspectives that empower readers to make informed decisions in the ever-evolving world of finance.
Source: Nairametrics | Read the Full Story…
