The Nigerian All-Share Index (ASI) ended Thursday, December 5, 2024, with a marginal dip of 60.88 points, closing at 98,114.11. This represents a minor decline of 0.06% but keeps the index above the crucial 98,000-point threshold.
Despite the index’s slight pullback, trading activity was robust, with a total of 722 million shares exchanged, marking a 38.52% increase compared to the previous session. Market capitalization held firm at ₦59.4 trillion, supported by 8,495 individual transactions throughout the day.
Gainers and Losers
Among the top gainers, UPL led with a 10% surge, closing at ₦3.96. CORNERST matched the 10% increase, ending at ₦3.30, while STERLINGNG followed closely, gaining 9.98% to close at ₦4.85.
On the flip side, REDSTAREX topped the losers’ list, shedding 10% to close at ₦4.41. FTNCOCOA lost 5.61%, closing at ₦1.85, while NPFMCRFBK dropped by 3.23% to ₦1.50.
Trading Volume and Value
Trading volumes experienced a notable boost, with 722 million shares exchanged compared to 521 million in the previous session. CHAMPION dominated trading activity, with 300.9 million shares traded, followed by FIDELITYBK (48.5 million shares) and GTCO (40.1 million shares).
In terms of trade value, GTCO led with ₦2.1 billion, followed by WAPCO with ₦2.0 billion. Other major contributors included MTNN (₦1.9 billion), CHAMPION (₦1.2 billion), and ACCESSCORP (₦858.8 million).
SWOOT and FUGAZ Stocks
Among the SWOOT stocks (companies with market capitalizations exceeding ₦1 trillion), ARADEL was the sole decliner, shedding 1.48%. In the FUGAZ group—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITH BANK—mixed performances were recorded:
- ACCESSCORP led with a 1.84% increase.
- GTCO gained 0.19%.
- UBA saw a marginal rise of 0.15%.
- FBNH dipped by 0.38%, while ZENITH BANK experienced a larger decline of 1.68%.
Market Outlook
Looking ahead, analysts remain optimistic about the market’s trajectory. If bullish sentiment across key stocks persists, the index could climb toward the 99,000-point mark and potentially exceed the ₦60 trillion market capitalization threshold.
With sustained investor interest and positive momentum across multiple sectors, the Nigerian equities market is poised for continued growth in the near term.
