All-Share Index Rises by 0.09%, Nigerian Stock Market Sees Modest Gain

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On November 8, 2024, the Nigerian All-Share Index (ASI) ended with a slight gain of 90.09 points, closing at 96,924.86. This 0.09% increase suggests stronger market activity and a possible recovery after dipping below the 97,000-point mark.

Market Activity Surges

With 628 million shares changing hands across 9,700 deals, trading volume jumped by 50.19%, a significant increase from the previous day’s 418 million shares. This drove market capitalization to N58.7 trillion, signaling renewed investor interest.

Top Performers of the Day

Several stocks recorded impressive gains:

CONOIL: Rose by the maximum 10.00% to close at N236.50.

ARADEL: Gained 10.00% to reach N441.20.

EUNISELL: Increased by 9.92% to close at N8.20.

JOHNHOLT: Rose by 9.77% to close at N4.38.

THOMASWY: Surged 9.71% to close at N1.92.

Biggest Decliners

However, some stocks saw losses:

TANTALIZER: Fell 6.25% to close at N0.60.

NGXGROUP: Dropped 5.81% to N23.50.

WEMABANK: Declined by 5.63% to N7.55.

RTBRISCOE: Decreased by 4.46% to N3.00.

FCMB: Fell 3.59% to close at N9.40.

High-Volume Stocks

The following stocks dominated trading activity by volume:

CONHALLPLC: Traded 124.8 million shares.

JAPAULGOLD: Followed with 105.9 million shares.
Other high-volume stocks included:

ELLAHLAKES: 92 million shares.

FBNH: 70.5 million shares.

OANDO: 57.1 million shares.

Top Value Stocks

In terms of trading value, the top stocks included:

JBERGER: Transactions worth N4.5 billion.

OANDO: Trades totaling N3.5 billion.
Other notable value leaders:

FBNH: N1.9 billion.

UBA: N1.1 billion.

GTCO: N702.4 million.

Highlights from SWOOT and FUGAZ Stocks

In the SWOOT (Significant Weight of Other Outstanding Talent) group:

ARADEL and OANDO recorded strong performances, each gaining 10.00% and 7.03%, respectively.

The other SWOOT stocks remained steady with no price changes.

Among the FUGAZ (First Bank, UBA, GTCO, AccessCorp, Zenith) stocks:

UBA led the losses, declining 1.74%.

FBNH and GTCO slipped by 1.45% and 1.02%, respectively.

On the positive side, ACCESSCORP rose by 1.24%, and ZENITH increased by 0.82%.

Market Outlook

If the current positive momentum continues, particularly among large-cap stocks in the banking and energy sectors, the ASI could see further gains. The ongoing strength in these sectors may support a broader market rally and further recovery in the coming days.