On September 27, 2024, the Nigerian All-Share Index (ASI) declined by 0.07%, losing 64.88 points to close at 98,458.68. This slight drop occurred despite a significant surge in market trading volume.
Key highlights include:
- A total of 797 million shares were traded, marking a 131% increase compared to the 344 million shares traded the previous day, across 7,764 transactions.
- BETAGLASS and MEYER were among the top performers, rising over 9%, while JAPAULGOLD led in trading volume.
Top Gainers:
- BETAGLASS: +10.00% to N48.95
- MEYER: +9.93% to N7.75
- DEAPCAP: +9.90% to N1.11
- ELLAHLAKES: +9.82% to N4.92
- ABBEYBDS: +9.65% to N2.50
Top Losers:
- CAVERTON: -9.76% to N2.68
- NNFM: -9.39% to N17.85
- UPL: -8.85% to N2.37
- MCNICHOLS: -8.57% to N1.60
- ABCTRANS: -7.83% to N1.15
Trading Volume:
- JAPAULGOLD dominated with 591.2 million shares traded.
- UBA followed with 27.8 million shares, while ZENITHBANK, ACCESSCORP, and TRANSCORP saw 11.7 million, 11.4 million, and 106.6 million shares, respectively.
Trading Value:
- JAPAULGOLD led with transactions worth N1.4 billion.
- Other major contributors were OANDO with N771.63 million, SEPLAT with N745 million, UBA with N717 million, and ZENITHBANK with N442 million.
Large-Cap Stock Performance:
- Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transcorp Power remained stable.
- OANDO saw a price increase of 3.01%.
- In the FUGAZ group, FBNH and ZENITHBANK dropped by 4.58% and 0.13%, respectively, while ACCESSCORP and UBA remained unchanged. GTCO gained 1.94%.
Outlook: Despite today’s slight dip, the index shows potential for recovery and could break past the 99,000 mark, with large-cap stocks playing a critical role in driving the market forward.
