WATCH THE VIDEO HERE The Nigerian All-Share Index (ASI) ended the trading day on November 20, 2024, with a 255.17-point gain, marking its fourth consecutive day of growth and closing at 98,227.50. The day’s gain represented a 0.26% increase, underscoring a measured yet steady positive momentum. Trading activity also intensified, with market participants exchanging 370 million shares in 10,026 transactions—a robust 10.95% jump from the previous day’s volume of 333 million shares. On the gainers’ chart, AUSTINLAZ led with a 10.00% surge, followed closely by TANTALIZER and WAPCO, which posted impressive gains of 10.00% and 9.98%, respectively. However, the day was not without its laggards, as NNFM and RTBRISCOE led the decliners, each recording a 10.00% loss. In terms of activity, HMCALL and ACCESSCORP stood out as the session’s most actively traded equities, drawing significant investor interest and heavy trading volumes. The Nigerian equities market experienced a surge in activity as daily trading volume rose by 10.95%, with investors exchanging 370 million shares, up from 333 million shares in the previous session. In the SWOOT category, comprising stocks with market capitalizations exceeding N1 trillion, OANDO was the sole mover, shedding 0.86%. The FUGAZ stocks—FBN Holdings, UBA, GTCO, Access Holdings, and Zenith Bank—showed mixed performance. Outlook Sustained rallies, fueled by robust investor sentiment and encouraging Q3 earnings across sectors, are likely to maintain upward momentum and attract broader market participation.
The Nigerian equities market appears poised for further gains, supported by strong bullish momentum in mid and large-cap stocks.
Market Wrap: AUSTINLAZ and WAPCO lead gains as All-Share Index rises by 0.26%; NNFM, RTBRISCOE lag
