The Nigerian All-Share Index (ASI) closed the trading session on a bearish note, sliding by 185.76 points to settle at 97,233.07.
This represents a 0.19% decline for the trading day that ended on November 14, 2024, underscoring a modest pullback in the broader market.
Despite the dip in the index, trading activity saw an uptick as investors exchanged 291 million shares—a notable 18% increase from the 246 million shares recorded in the previous session—executed across 7,931 deals.
Amid the overall decline, the gainers’ chart brought some positive highlights. Flour Mills of Nigeria (FLOURMILL) emerged as the standout performer with an impressive 10.00% surge, claiming the top spot among advancers.
Close behind, TIP and John Holt (JOHNHOLT) delivered robust performances, climbing 10.00% and 9.86%, respectively.
On the flip side, Abbey Mortage Bank (ABBYBDS) led the losers, dropping 9.77%, followed by ABC Transport (ABCTRANS) with a 9.45% decline, both marking significant losses for the session.
In terms of trading volume, Access Holdings (ACCESSCORP) and United Bank for Africa (UBA) emerged as the most traded stocks.
Market Summary
- Current ASI: 97,233.07 points
- Previous ASI: 97,418.83 points
- Year-to-Date Performance: +30.04%
- Volume Traded: 291 million shares
Top 5 gainers
- FLOURMILL: up 10.00% to N71.50
- JOHNHOLT: up 9.86% to N7.02
- INTENEGINS: up 9.85% to N1.45
- SUNUASSUR: up 9.73% to N2.48
Top 5 losers
- ABBEYBDS: down 9.77% to N2.40
- ABCTRANS: down 9.45% to N1.15
- CONOIL: down 6.15% to N244.00
- BUACEMENT: down 5.93% to N92.00
- CUSTODIAN: down 4.76% to N12.00.
Trading Volume
The market witnessed a surge in trading activity, with daily trading volume climbing by 18%. Investors exchanged a total of 291 million shares, a significant increase from the 246 million shares traded in the previous session.
Access Holdings (ACCESSCORP) led the charge as the most actively traded stock, recording a staggering 60.3 million shares in transactions.
United Bank for Africa (UBA) followed with 17.9 million shares, while Zenith Bank (ZENITHBANK), Oando (OANDO), and United Capital (UCAP) rounded out the top five with volumes of 16.2 million, 15.6 million, and 15.4 million shares, respectively.
Trading Value
In terms of value, ACCESSCORP emerged as the standout, leading the market with trades worth N1.5 billion. Oando trailed closely with transactions valued at N950.4 million.
Aradel Holdings (ARADEL) and Zenith Bank also made notable contributions, registering trading values of N838.1 million and N695.4 million, respectively.
Completing the top five, Conoil (CONOIL) saw trades valued at N603.9 million, underlining strong investor activity in these counters.
SWOOT and FUGAZ Stocks
In the SWOOT category—stocks with a market valuation exceeding N1 trillion—BUA Cement and Oando were the day’s only movers.
- Both closed in negative territory, with BUA Cement dropping 5.93% and Oando shedding 3.23%. The remaining SWOOT stocks stayed flat.
- Among the FUGAZ stocks (comprising FBN Holdings, UBA, GTCO, ACCESSCORP, and Zenith Bank), performance was mixed.
ACCESSCORP dipped by 0.20%, while Zenith Bank saw no price movement. On the positive side, FBN Holdings, UBA, and GTCO posted gains of 1.46%, 0.76%, and 0.55%, respectively.
Market Outlook
The All-Share Index is holding just above the 97,000-point mark, despite closing the session in negative territory. Continued bullish price activity could provide the momentum needed to push the index higher.
Investor confidence, supported by strong Q3 financial results across key sectors, is expected to drive further gains in the coming trading sessions.
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