All-Share Index dips 0.12% despite trading surge, ends Tuesday in the red 

All-Share Index dips 0.12% despite trading surge, ends Tuesday in the red 

The Nigerian stock market closed in negative territory on October 8, 2024, as the All-Share Index (ASI) slipped by 0.12%.

The ASI dropped by 121.89 points, settling at 97,584.81, despite a significant increase in market activity, with 719 million shares traded, up from 308 million shares the previous trading session.

Strong gains were observed in REGALINS and PZ throughout the day, while WAPIC and several banking stocks led the market in trading volume.

REGALINS was the top performer, surging by 10.00%, followed closely by PZ, which rose 8.78%.

On the other hand, GUINNESS recorded the sharpest decline, plummeting by 10.00%, with AFRIPRUD and INTBREW also posting significant losses of 9.86% and 9.07%, respectively.

Market Summary 

Current ASI: 97,584.81 pointsPrevious ASI: 97,706.70 pointsDay Change: -0.12%Year-to-Date Performance: +30.51%Volume Traded: 719 million sharesDeals: 9,435

Top 5 Gainers 

REGALINS: up 10.00% to N0.55PZ: up 8.78% to N19.20CUTIX: up 5.60% to N2.64DEAPCAP: up 5.59% to N1.51TIP: up 5.26% to N2.00Top 5 Losers GUINNESS: down 10.00% to N6.80AFRIPRUD: down 9.86% to N9.60INTBREW: down 9.07% to N4.01CWG: down 6.98% to N6.00UPDC: down 5.95% to N1.58Trading Volume  

The market experienced a surge in trading activity, with 719 million shares changing hands—a 133% jump from the prior session’s 308 million shares.

WAPIC led the trading volume with 402.25 million shares, followed by FIDELITYBK with 49.92 million shares.

Other actively traded stocks included ACCESSCORP (25.42 million shares), UBA (23.06 million shares), and VERISTASKAP (13.92 million shares).

Trading Value 

In terms of trading value, SEPLAT led the market with transactions worth N2.24 billion. FIDELITYBK followed, with shares traded amounting to N760.21 million.

OANDO and UBA also made significant contributions, with trading values of N758.78 million and N648.21 million, respectively, while GUINNESS recorded transactions worth N630.22 million.

SWOOT and FUGAZ Performance 

Among the SWOOTs, price movements were relatively stable. AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, and DANGOTE CEMENT all remained unchanged.However, SEPLAT stood out with a gain of 5.09%, leading the group, while MTNN saw a slight decline of 0.58%.In the FUGAZ category, FBNH and ACCESSCORP posted modest gains of 2.36% and 1.02%, respectively, while GTCO, UBA, and ZENITH BANK experienced minor declines of 3.67%, 1.79%, and 2.25%.Market Outlook 

Despite today’s negative close, the ASI appears to be on a correctional path and is expected to surpass the 99,000-point mark in the coming weeks.

A renewed push from large-cap stocks could help drive this upward momentum.

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Full Story: https://nairametrics.com/2024/10/08/all-share-index-dips-0-12-despite-trading-surge-ends-tuesday-in-the-red/
TAGS: #AllShare #Index #dips #trading #surge #ends #Tuesday #red


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