The Nigerian All Share Index concluded the trading session on March 4, 2024, in negative territory, declining by 550.88 points to settle at 106,904.25.
This reflects a 0.51% decrease from the previous day’s closing of 107,455.13, despite robust trading volume.
Daily trading volume climbed to 395.4 billion, increasing from the 308 million shares traded the prior day.
Market capitalization also experienced a downturn, decreasing to N66.9 trillion from the N67.2 trillion reported previously.
On the gainers’ front, UHOMREIT and NEM Insurance led the way, achieving impressive gains of 9.95% and 8.78%, respectively.
Conversely, the top five losers, including GUINEAINS, DANGSUGAR, DEAPCAP, ETERNA, and TRANSCORP, all recorded a significant decline of 10.00%.
In terms of trading volume, UCAP and ELLAHLAKES emerged as the frontrunners, making notable contributions to the overall market activity.
Daily trading volume surged to 395.4 billion, an increase from the 308 million shares exchanged the previous day.
In terms of trading value, ZENITHBANK emerged as the top performer, facilitating transactions totaling N1.2 billion.
Within the SWOOT category, ARADEL achieved a gain of 0.73%, while OANDO experienced a decline of 4.94%.
Despite the daily decline, the All-Share Index is on a long-term bullish trend. A pullback after consecutive declines may present opportunities for investors to purchase shares at lower prices.
If the index is not considered overbought, this could lead to a potential upward rally.