All share index ends in red, falls by 0.34% as selling pressure persists 

The All share index declined again concluding trading on a bearish note as it fell by 327.28 points, due to sell pressure on the index on September 5, 2024.

The index closed trade at 96,210.20 points, depicting a -0.34% decline compared to the close of the previous day at 96,537.48 points, indicating bearish sentiment on the index.

Market capitalization also experienced a reduction, falling from 55.45 trillion reported the previous day down to 55.27 trillion, declining by 0.32%.

The negative price action on the index was largely driven by the underperformance of large cap stocks like OANDO which lost 9.65% of its share price, after it also traded in the red the previous day.

Among the advancing stocks, BERGER topped the list, recording a notable 10% increase in its share price, outperforming other stocks on the advancers table.

In contrast, RTBRSCOE led the declining stocks list, plunging by 10% to close the day in red. FTNCOCCOA and OANDO fell by -9.80% and -9.57% respectively.

The session concluded with 9,897deals, a decrease from the previous session’s 12,039 transactions.

Market Indices  

Current ASI: 96,210.20 points

Previous ASI: 96,537.48 points

% Day Change: -0.34%

% YTD: +28.67%%

Market Cap: N55.45 trillion

Volume Traded: 388.62 million units

Deals: 9,897

NGX Top 5 Gainers   

BERGER up 10% to close at N17.05

MEYER up 10.00% to close at N5.83

MCNICHOLS up 10.00% to close at N1.43

TANTALIZER up 7.81% to close at N0.69

DAARCOMM up 7.58% to close at N0.71

NGX Top 5 Losers  

RTBRSCOE down 10% to close at N2.34

FTNCOCOA down 9.80%to close at N1.38

OANDO down 9.65% to close at N74.00

DEAPCAP down 9.57% to close at N1.04

GUINEAINS down 9.09% to close at N0.50

Top Traded Stocks  

• The market witnessed a contraction in capitalization as it lost 0.32% in value to end the trading session at 55.27 trillion cap.
• Zenith Bank was the most traded stock, leading the trading volumes with 56.5 million shares, followed closely by OANDO at 42.9 million shares. Other notable contributors included GTCO with 28.4 million shares, FTNCOCOA at 25.4 million, and UBA at 21.6 million shares.
• On the value front, the market recorded a 17.45 ascent in trade value, totaling N9.57 billion, compared to the previous session’s N9.7 billion, marking an increase of N1.39 billion.
• OANDO also dominated in terms of trade value, posting N3.1 billion in transactions, followed by ZENITH BANK at N2.0 billion, GTCO at N1.2 million, and UBA at N503.7

SWOOT and FUGAZ Update  

• The Nigerian stock market ended the trading day on a negative note, dragged down again by a 9.65% decline in OANDO’s share price, following its decline from the previous day, and some minor declines in some large-cap banking stocks.
• Despite the market’s volatility, several companies, including AIRTELAFRICA, BUACEMENT, BUAFOODS, DANGCEMENT, GEREGU, MTNN, SEPLAT, and TRANSPOWER, exhibited resilience by maintaining stable stock prices.
• In the banking sector, FBN Holding stood out as the only company to remain unaffected by the downward trend, while Zenith Bank, UBA, Access Holdings, and GTCO experienced declines of 1.07%, 1.47%, 0.79%, and 0.43%, respectively.