The Nigerian All-Share Index gained 105.70 points on Wednesday, July 23, to close at 132,557.43, a modest 0.08% increase despite weaker market activity.
Trading volume dipped to 681.2 million shares, down from 771.6 million shares recorded the day before.
Nevertheless, the total market capitalization edged up slightly to N83.8 trillion, from N83.7 trillion, across 26,931 deals.
Academy Press (ACADEMY) and The Initiates Plc (TIP) emerged top, each posting impressive gains of 10.00% and 9.98% respectively.
On the flip side, Austin Laz & Company (AUSTINLAZ) and Tripple Gee & Company (TRIPPLEG) led the losers’ table, falling by 10.00% and 9.95% apiece.
In terms of activity, Access Holdings (ACCESSCORP) and ELLAH LAKES stood out as the most traded stocks by volume, reflecting strong investor interest during the session.
Trading activity slowed on Wednesday as daily volume declined to 681.2 million shares, down from 771.6 million the previous session.
On the value side:
SWOOT & FUGAZ performance
Among the SWOOTs (Stocks Worth Over One Trillion Naira), performance was mixed:
On the downside, WAPCO lost 4.33%, INTERNATIONAL BREWERIES shed 1.44%, and NIGERIAN BREWERIES declined 0.41%.
Market outlook
The All-Share Index remains above the 132,000 mark, signaling continued bullish sentiment in key equities.
However, fading momentum may suggest a possible retracement as investors await the release of Q2 earnings.