Market Wrap: All-Share Index rises 0.02%; CAVERTON shines, WEMABANK tops volume 

This reflects a slight uptick of 0.02% from Friday’s close of 102,353.68, as trading volume saw a remarkable increase.

The volume surged by 304%, rising from 327 million shares the day before to an impressive 1.3 billion shares.

Market capitalization remained steady at N62.8 trillion over 13,891 transactions, nearing the significant N63 trillion milestone.

Noteworthy individual performances included CAVERTON, WAPIC, and SCOA, which recorded substantial gains of 10.00%, 9.91%, and 9.68%, respectively.

In contrast, EUNISELL and JOHNHOLT emerged as the notable decliners, posting losses of 9.99% and 9.63%.

Overall, market activity reflected a modest increase, with WEMABANK and UNIVINSURE leading the trading charts as the most actively traded stocks, making significant contributions to the day’s overall turnover.

The market witnessed an impressive surge in trading volume, increasing by 304% to reach 1.3 billion shares. Key highlights from the trading session include:

In terms of trading value, the session was dominated by:

SWOOT and FUGAZ performance 

In the SWOOT category:   

For the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK, performance was mixed:

While today’s gains may appear modest, they suggest a potential correction and present an attractive entry point for investors following the previous retracement.

Anticipation is likely being built for the forthcoming Q4 earnings reports from large and mid-cap stocks, set for release in late January and early February, which are expected to elicit positive market reactions.