All-Share Index dips 0.04% despite increased volume: Three stocks up 10%, FIDELITY tops trading value 

This reflects a 0.04% decline from Friday’s closing figure of 105,933.03, even with an uptick in trading volume.

The daily trading volume surged by 48.4%, jumping from 381 million shares on the previous day to a robust 567 million shares today.

According to data from the Nigerian Exchange (NGX), the market capitalization of the index reached N66 trillion across 17,843 transactions.

In terms of individual stock performance, STANBIC, SMURFIT, and BETAGLASS each recorded notable gains of 10.00%.

On the other hand, INTENEGINS and RTBRISCOE saw declines of 10.00% and 9.63%, respectively. Additionally, NSLTECH and FIDELITYBK stood out as leaders in trading activity, significantly impacting the day’s turnover.

The trading volume experienced a rise of 48.4%, increasing from 381 million shares in the prior session to 567 million shares.

In terms of trading value, the session was dominated by FIDELITYBK, achieving transactions worth N1.3 billion.

Despite the decline, the Nigerian stock market, as indicated by the All-Share Index, is currently benefiting from strong buying momentum, with price movements that could breach the psychological threshold of 106,000.

Provided the index is not perceived as overbought, the positive sentiment stemming from forthcoming earnings reports in late January and early February could further propel the index upward.