The Nigerian All-Share Index (ASI) delivered an impressive performance on December 13, 2024, surging by 617.69 points to close at 99,378.28—a 0.63% gain. This milestone marks another step toward the anticipated 100,000-point threshold.
Trading activity was brisk, with 534 million shares changing hands, a 9% uptick compared to the previous session.
Market capitalization also climbed higher, breaking into the N60 trillion territory and settling at N60.2 trillion, supported by 8,464 recorded transactions.
The gainers’ chart was dominated by CAVERTON, IKEJAHOTEL, and ARADEL, all advancing by the daily maximum of 10.00%, showcasing investor confidence in these equities.
On the flip side, AUSTINLAZ led the laggards with a 10.00% drop, followed by ABCTRANS, which declined by 8.00%, signaling mixed sentiment across the board.
In terms of trading volume, JAPAULGOLD and ETRANZACT stood out as the most traded stocks, drawing significant investor interest and contributing to the day’s robust market turnover.
Trading volume
On December 13, 2024, the Nigerian equities market saw a notable 9% boost in trading volume, with 544.2 million shares exchanged, surpassing the previous session’s activity.
Trading value
In terms of trading value, heavyweight stocks dominated:
SWOOT and FUGAZ
The SWOOT stocks, representing companies with market capitalizations above N1 trillion, had mixed performances:
Among the FUGAZ stocks (FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK):
Outlook
The All-Share Index surged past the 99,000-threshold, driven by positive price movements in mid- and large-cap stocks. This bullish momentum sets the stage for a potential rally towards the much-anticipated 100,000-point mark.
With strong investor confidence and robust performance across key sectors, the Nigerian equities market is poised to sustain its upward trajectory in the near term.