The Nigerian All-Share Index (ASI) closed the trading day on a positive note, climbing 311.33 points to settle at 97,236.19, a leap above the 97,000-point threshold despite a dip in market activity.
This reflects a 0.32% gain from the previous day, underscoring the resurgence of bullish sentiment, reversing some of the earlier week’s losses.
However, trading volume experienced a sharp 23.78% drop, with a total of 478 million shares exchanging hands across 9,015 deals, compared to the previous session’s 628 million shares.
Despite the reduced activity, market capitalization advanced to N58.9 trillion.
In terms of standout performers, ARADEL led the gainers’ chart with an impressive 10.00% increase. CONOIL and JOHNHOLT followed closely, posting gains of 9.94% and 9.82%, respectively.
On the losing side, MEYER and ABBEYBDS recorded the steepest declines, shedding 9.83% and 9.82%, respectively.
Meanwhile, STERLINGNG and ELLAHLAKES dominated trading activity, clocking the highest volumes of the day.
Market Summary
Top 5 Gainers
Top 5 Losers
The market witnessed a notable slowdown in trading activity, with daily volume falling by 23.78% to 478 million shares, a decline from the previous day’s 628 million. Despite the dip, certain stocks dominated the action, showcasing strong investor interest.
On the value front, ARADEL claimed the top spot with transactions worth N1.4 billion. OANDO followed with trades valued at N1.3 billion.
SWOOT and FUGAZ Stocks
A surge in energy stocks, combined with renewed strength in the banking sector following favorable Q3 results, could drive the index toward the 98,000-mark.
Sustained consolidation within these key sectors is likely to lay the groundwork for a broader market rally, reinforcing investor confidence and fueling further gains.