Market Wrap: All-Share Index climbs to 103,586 points; CHAMS and OMATEK top gainers 

This marked a 0.39% increase from the previous day’s close of 103,180.14, as the market maintained its strong start to the year.

Despite the gains, trading volume took a dip, declining by 14% from 829 million shares traded on January 2 to 709 million shares.

On the brighter side, the market capitalization climbed past the N63 trillion mark, closing at an impressive N63.1 trillion, solidifying investor confidence.

Top gainers for the day included CHAMS, which soared by 10.00%, alongside OMATEK with an identical 10.00% increase.

However, not all stocks enjoyed the bullish sentiment. TOTAL led the decliners, dropping 9.74%, followed by CWG, which fell 6.04%.

Activity on the trading floor was dominated by CHAMS and VERITASKAP, which emerged as the most actively traded stocks, contributing significantly to the day’s turnover.

Despite the market’s overall positive trajectory, trading volume saw a 14% decline, with 709 million shares exchanged compared to the previous session.

Heavyweight stocks dominated by trading value, drawing substantial institutional interest.

Among the SWOOTs, WAPCO was the sole gainer, recording a 2.51% increase.

Within the FUGAZ group (FBNH, UBA, GTCO, ACCESSCORP, ZENITHBANK):

The Nigerian All-Share Index broke through the 103,000-mark, maintaining a strong start to the year.

With the psychological threshold of 104,000, last reached in March 2024, now within sight, the market’s trajectory is likely to hinge on January’s investment activity.

Anticipated positive Q4 2024 corporate results could provide the momentum needed to propel the index further.