Market Wrap Oct 30th: Sky Aviation leads gainers table, Jaiz Bank Plummets as as All-Share Index closes with a slight dip

The All-Share Index (ASI) closed the day in negative territory, dipping by 34.84 points to settle at 98,023.23, slipping below its opening value.

This represents a marginal 0.04% decline from the previous session’s close of 98,058.07, as the market struggled to maintain its earlier momentum.

In contrast to the index’s downward movement, market activity surged, with total volume climbing to 538 million shares—marking a 34.8% increase from the 399 million shares traded the previous day.

Transactions were executed across 10,028 deals, driving the market’s overall capitalization to N59.39 trillion.

While the broader market reflected mixed performance, SKYAVN, UPL, and VITAFOAM emerged as top performers, each notching gains exceeding 10%. Meanwhile, the most actively traded stocks by volume were JAIZBANK, UBA, and CHAMS, attracting heightened investor interest.

On the other hand, JAIZBANK and PZ topped the list of decliners, both plunging 10.00%, with ABCTRANS trailing closely, down 9.63%.

Despite the index’s bearish tone, the rise in trading volumes among large-cap stocks—particularly UBA, MTNN, and ZENITHBANK—signals an increase in market activity.

Market Summary  

• Current ASI: 98,023.23 points

• Previous ASI: 98,058.07 points

• Year-to-Date Performance: +31.09%

• Volume Traded: 538 million shares

Top 5 Gainers  

• SKYAVN: up 10.00% to N27.50

• VITAFOAM: up 10.00% to N22.00

• EUNISELL: up 9.93% to N4.65

• NAHCO: up 9.89% to N38.90

Top 5 Losers  

• JAIZBANK: down 10.00% to N2.25
• PZ: down 10.00% to N18.90
• ABCTRANS: down 9.63% to N1.22
• UPDC: down 9.37% to N1.45
• INTENEGINS: down 8.97% to N1.32

Trading Volume: 

Market activity witnessed a significant boost as trading volume soared to 538 million shares, marking a 34.8% rise from the 399 million shares exchanged in the previous session.

JAIZBANK dominated the volume chart, leading with 106.67 million shares, while UBA closely followed with 95.91 million shares.

Other noteworthy contributors included CHAMS, which traded 80.66 million shares, MTNN with 30.75 million shares, and ZENITHBANK, moving 23.07 million shares.

Trading Value: 

In terms of transaction value, MTNN took the lead with trades totaling N5.38 billion, reflecting strong demand for the telecom giant.

UBA followed closely, posting trade values of N2.85 billion, while ARADEL and ZENITHBANK reported trades worth N2.04 billion and N912.17 million, respectively. GTCO completed the top five with a trading value of N612.57 million.

SWOOT and FUGAZ Stocks:  

The SWOOT stocks—consisting of ARADEL, AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, SEPLAT, and DANGOTE CEMENT—remained largely stable throughout the session, showing no notable price movements.

Meanwhile, among the FUGAZ group, only FBNH faltered, shedding 0.75% by the close. On the upside, GTCO led with a 5.34% gain, followed by UBA at 1.18%, Access Bank at 1.16%, and ZENITHBANK, which rose by 1.28%.

Outlook: 

• Looking ahead, the All-Share Index (ASI) appears to remain in retracement mode, targeting a recovery toward the 99,000-point zone.

• A resurgence in bullish price action, especially among large-cap stocks, could drive the index higher in the coming weeks.

• If today’s trading momentum in FUGAZ stocks continues, along with positive moves in large-cap stocks, the index could surpass the 99,000-point mark.