The All-Share Index (ASI) closed in negative territory on September 9, 2024, shedding 227.07 points as bearish sentiment weighed on key stocks like JBERGER, TRANSPOWER, and MCNICHOLS.
The index settled at 96,206.46 points, reflecting a 0.24% decline from the previous day’s close, indicating continued negative sentiment in the market.
Market capitalization also dropped by 0.19%, closing at N55.28 trillion from N55.39 trillion. This downturn was primarily driven by a steep 10% decline in JBERGER’s share price.
On the gainers’ list, ETERNA led with a notable 10% increase, topping the table of advancing stocks. In contrast, JBERGER was the biggest loser, falling by 10% to end the day in the red.
Other significant decliners included TRANSPOWER and MCNICHOLS, which dropped by 9.90% and 9.47%, respectively.
The trading session saw a total of 10,412 deals, an uptick from the 9,897 deals recorded in the previous session on Friday.
Market Snapshot
- Current ASI: 96,206.46 points
- Previous ASI: 96,433.53 points
- Day Change: -0.24%
- YTD Performance: +28.74%
- Market Cap: N55.28 trillion
- Volume Traded: 774.38 million units
- Deals: 10,412
Top 5 Gainers
- ETERNA: up by 10% to N33.00
- TANTALIZER: up by 10% to N0.77
- OANDO: up by 9.95% to N89.50
- FTNCOCOA: up by 9.93% to N1.66
- UACN: up by 9.81% to N22.95
Top 5 Losers
- JBERGER: down by 10% to N153.45
- TRANSPOWER: down by 9.90% to N301.70
- MCNICHOLS: down by 9.40% to N1.35
- UPL: down by 8.99% to N2.43
- CUTIX: down by 6.00% to N2.82
Trading Volume
The market’s capitalization contracted by 0.19%, closing the day at N55.28 trillion amid bearish sentiment surrounding the index.
JAIZ Bank led the trading volumes with 247.04 million shares, followed by ZENITHBANK with 173.48 million shares. Other notable trades included FBN Holdings (41.50 million shares), GTCO (33.92 million), and JAPAULGOLD (27.80 million).
In terms of value, the market surged by 53%, with a total trade value reaching N14.65 billion, compared to N9.57 billion in the previous session. ZENITHBANK dominated with N6.32 billion in transactions, followed by GTCO (N1.53 billion), OANDO (N1.32 billion), and FBNH (N895.46 million).
SWOOT and FUGAZ Update
Despite the general market decline, companies like AIRTELAFRICA, BUACEMENT, BUAFOODS, DANGCEMENT, GEREGU, SEPLAT, and TRANSPOWER maintained stable stock prices, showing resilience amid market volatility.
In the banking sector, FBN Holdings was the only stock to post gains, rising 8.84%. Meanwhile, UBA and GTCO recorded no price movement, while Access Bank and Zenith Bank both dipped by 1.33%.
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