Market Wrap: LAFARGE soars as All-Share Index gains 226.99 points, ETRANZACT tops losers 

This marked an encouraging gain of 0.23%, signaling a subtle but steady upward momentum in the market.

However, while the ASI enjoyed a mild rally, trading volume showed signs of restraint, falling by 12.49% from the previous day’s 515 million shares to 451 million.

This decrease in volume suggests a slight pullback in market participation, even as the broader index made gains.

Nonetheless, market capitalization remained resilient, holding steady at N59.2 trillion, with 9,329 trades executed, indicating that overall market activity remained relatively stable.

Among the day’s top performers, WAPCO stole the spotlight, surging by 10.00% to clinch the top spot, followed closely by ABBEYBDS, which also posted a 10.00% gain. AFRIPRUD rounded off the top three with a similarly impressive 10.00% increase.

On the downside, ETRANZACT led the losers, shedding 10.00% of its value, while NCR followed closely behind with a decline of 9.92%.

Notably, despite the drop in overall trading volume, JAPAULGOLD and UBA emerged as the most actively traded stocks of the day, signaling sustained investor interest and market engagement amidst the volume dip.

The Nigerian equities market experienced a decline in trading activity on December 2, 2024, with trading volume falling by 12.49%. A total of 451 million shares were traded, down from 515 million shares in the previous session.

Among the SWOT stocks, which are those with market capitalizations exceeding N1 trillion, OANDO experienced a slight decline of 0.69% in its share price.

The FUGAZ group—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK—witnessed mixed price movements across the board.

The positive price movements in the banking sector, especially among tier-1 banks, are expected to propel the All-Share Index above the 98,000-mark, with the psychological 99,000 level now within reach.

Supported by strong third-quarter earnings from various sectors and continued investor enthusiasm, the Nigerian equities market appears well-positioned to maintain its upward momentum in the coming sessions.