Market Wrap: All-Share Index drops 52 Points; UPL leads gainers, HONYFLOUR heads decliners 

Despite this dip, market activity surged, with trading volume increasing by 11.62% to reach 443 million shares, up from 397 million.

The market capitalization held tight to N61 trillion, closing at N61.9 trillion, supported by 12,551 transactions.

UPL distinguished itself as the leading gainer, achieving an increase of 10.00%. Following closely were WAPIC and UNIVINSURE, each also rising by 10.00%.

In contrast, HONYFLOUR experienced the steepest decline, with a drop of 9.09%, while RTBRISCOE was not far behind, declining by 5.66%.

Noteworthy in trading activity, UBA, and ACCESSCORP emerged as the most actively traded stocks, drawing significant investor interest and contributing substantially to the day’s turnover.

Despite an overall bearish market session, trading volume experienced an increase of 11.62%, with 443 million shares exchanged compared to the previous session.

Heavyweight stocks dominated the trading landscape in terms of value, attracting significant institutional interest.

Among SWOOT stocks, OANDO exhibited positive price movement, climbing by 2.36%.

For the FUGAZ category (comprising FBNH, UBA, GTCO, ACCESSCORP, ZENITHBANK).

The Nigerian All-Share Index maintained its position above the N102,000 mark, even as market volume experienced a decline. Attention is now focused on the psychological threshold of 104,000, established in March.

While the index may encounter some resistance due to reduced trading volumes during the festive season, the individual gains in large-cap stocks are anticipated to drive the index toward overcoming the significant barriers of 103,000 and 104,000.