The Nigerian All-Share Index extended its bullish momentum on Friday 17th October, gaining 622.7 points to close at 148,977.8, edging closer to the 149,000-mark.
This represents a 0.42% increase from 148,355.1 recorded in the previous session, accompanied by a modest rise in market activity.
Trading volume strengthened to 480 million shares, compared to 432 million shares traded the day before, while market capitalization climbed to N94.5 trillion from N94.1 trillion.
EUNISELL and UPDC emerged as the day’s top gainers, appreciating by 10.00% and 9.92%, respectively. Conversely, LIVINGTRUST and INTENEGINS declined by 10.00% and 8.39%.
On the volume front, UBA and ACCESSCORP dominated trading, accounting for the highest share exchanges of the day.
Market summary
Top 5 losers
Trading volume
Trading volume rose to 480 million shares, up from 432 million shares exchanged in the previous session.
Trading value
SWOOT and FUGAZ performance
Stocks Worth Over One Trillion Naira (SWOOTs) closed mixed.
On the other hand, INTBREW shed 3.33%, NB declined 0.78%, and FIDELITYBK fell 0.50%.
Among the FUGAZ stocks:
Market outlook
The All-Share Index remains strongly bullish as it edges closer to the 149,000-point barrier.
The All-Share Index remains strongly bullish as it edges closer to the 149,000-point barrier.
With third-quarter results around the corner, sustained positive sentiment and strong earnings expectations are likely to drive the index even higher in the coming sessions.