Market Wrap: All-Share Index sheds 118 Points as HONYFLOUR rises, MULTIVERSE leads losses 

ASI declined by 118.93 points, closing at 101,129.09, which represented a modest decrease of 0.12%, yet it managed to hold above the crucial 101,000 mark.

In contrast, market activity experienced a significant surge, with trading volume rising by 28%, jumping from 400 million shares the previous day to an impressive 513 million shares.

Market capitalization remained steadfast above the N61 trillion threshold, concluding the session at N61.3 trillion, bolstered by a significant 11,554 transactions.

On the gainers’ front, HONYFLOUR and UACN led the charge, each achieving a remarkable 10.00% increase.

However, the day was not without its challenges, as MULTIVERSE emerged as the most significant laggard, experiencing a sharp decline of 9.80%, closely followed by ARADEL with a drop of 9.09%.

Notably, UNIVINSURE and UBA stood out as the most traded stocks of the day, drawing considerable investor interest and contributing significantly to the heightened market turnover.

Amid the market’s overall negative trajectory, trading volume experienced a notable surge of 28%, totaling 513 million shares exchanged compared to the previous session.

Despite a slight decline, the Nigerian All-Share Index continues to demonstrate a robust upward trajectory, closing above the 101,000-point threshold.

The strong performance of mid- and large-cap stocks is likely to further enhance market capitalization as bullish market conditions persist.