Market Wrap: ASI edges up by 13.61 points as HMCALL leads gainers, Multiverse tops losers

This marked a slight gain of 0.01%, reflecting a subtle but steady uptick in the market.

However, despite this upward movement in the index, trading volume saw a dip, falling by 17.75% from the previous day’s total of 671 million shares to 552 million shares on Tuesday.

Market capitalization remained unchanged at N59.1 trillion, and the total number of trades executed stood at 9,305, indicating a steady level of activity despite the decrease in volume.

Among the top gainers, HMCALL emerged as the standout performer, surging by 9.98% to take the top spot. SUNUASSUR followed closely with a 9.80% jump, while JAPAULGOLD rounded out the top three with a gain of 9.72%.

On the downside, MULTIVERSE led the decliners, shedding 9.92% of its value, while TANTALIZER trailed just behind, dropping by 9.30%.

Notably, HMCALL and TANTALIZER were the most actively traded stocks of the day, underscoring sustained investor interest despite the overall drop in trading volumes.

The Nigerian equities market experienced a decline in trading activity, with trading volume falling by 17.75%. A total of 552 million shares were exchanged, down from 671 million shares in the previous session.

In terms of trading value, HMCALL again took the lead, driving transactions worth an impressive N1.0 billion. WAPCO followed with N978.6 million in trade value, signaling ongoing investor interest in the stock.

UBA and MTNN also attracted significant attention, contributing N947.3 million and N781.7 million to the day’s total value, respectively. FBNH rounded out the top five, generating N536.2 million in transactions.

Among the SWOOT stocks, which have market capitalizations above N1 trillion, OANDO stood out as the only decliner, advancing by 3.46%.

The FUGAZ group, consisting of FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK, saw a mixed performance.

Despite a modest 0.01% uptick in the market, optimism for a rebound remains strong. With solid third-quarter earnings from various sectors and sustained investor interest, the Nigerian equities market is expected to maintain upward momentum in the coming sessions.