Market Wrap: ARADEL, CONOIL lead gainers for second consecutive day as ASI rises 0.32%; MEYER slips 

The Nigerian All-Share Index (ASI) closed the trading day on a positive note, climbing 311.33 points to settle at 97,236.19, a leap above the 97,000-point threshold despite a dip in market activity.

This reflects a 0.32% gain from the previous day, underscoring the resurgence of bullish sentiment, reversing some of the earlier week’s losses.

However, trading volume experienced a sharp 23.78% drop, with a total of 478 million shares exchanging hands across 9,015 deals, compared to the previous session’s 628 million shares.

Despite the reduced activity, market capitalization advanced to N58.9 trillion.

In terms of standout performers, ARADEL led the gainers’ chart with an impressive 10.00% increase. CONOIL and JOHNHOLT followed closely, posting gains of 9.94% and 9.82%, respectively.

On the losing side, MEYER and ABBEYBDS recorded the steepest declines, shedding 9.83% and 9.82%, respectively.

Meanwhile, STERLINGNG and ELLAHLAKES dominated trading activity, clocking the highest volumes of the day.

Market Summary  

• Current ASI: 97,236.19 points 

• Previous ASI: 96,924.86 points 

• Year-to-Date Performance: +30.04% 

• Volume Traded: 478 million shares 

Top 5 Gainers  

• ARADEL: up 10.00% to N485.30 

• CONOIL: up 9.94% to N260.00 

• JOHNHOLT: up 9.82% to N4.81 

• LASACO: up 9.09% to N2.40 

• FTNCOCOA: up 8.00% to N1.89 

Top 5 Losers  

• MEYER: down 9.98% to N7.67 

• ABBEYBDS: down 9.83% to N2.66 

• ETERNA: down 9.82% to N24.80 

• SUNUASSUR: down 9.65% to N2.06 

• DEAPCAP: down 9.32% to N1.07 

Trading Volume   

The market witnessed a notable slowdown in trading activity, with daily volume falling by 23.78% to 478 million shares, a decline from the previous day’s 628 million. Despite the dip, certain stocks dominated the action, showcasing strong investor interest.

• Leading the volume board was STERLING, with 119.3 million shares traded. ELLAHLAKES followed closely, recording 91.5 million shares.

• Other actively traded stocks included ACCESSCORP, which moved 54.5 million shares, FIDELITYBK with 25.7 million shares, and GTCO, where 22.4 million shares exchanged hands.

Trading Value   

On the value front, ARADEL claimed the top spot with transactions worth N1.4 billion. OANDO followed with trades valued at N1.3 billion.

• ACCESSCORP and GTCO also recorded substantial trading values of N1.3 billion and N1.1 billion, respectively.

• UBA rounded out the top five with a trading value of N630.4 million, reinforcing its position as a significant player in the market.

SWOOT and FUGAZ Stocks   

• Among the SWOOT stocks, ARADEL emerged as the star performer, notching an impressive 10% gain, while OANDO edged higher with a modest 0.07% increase.

• The FUGAZ stocks presented a mixed bag of results. ZENITH experienced a decline of 2.33%, while UBA’s price remained unchanged.
• In contrast, ACCESSCORP, GTCO, and FBNH posted modest gains of 1.02%, 0.19%, and 0.18%, respectively.

Outlook 

A surge in energy stocks, combined with renewed strength in the banking sector following favorable Q3 results, could drive the index toward the 98,000-mark.

Sustained consolidation within these key sectors is likely to lay the groundwork for a broader market rally, reinforcing investor confidence and fueling further gains.