The Nigerian All-Share Index (ASI) closed the trading session on a bearish note, sliding 185.76 points to settle at 97,233.07.

This represents a decline of 0.19% for the trading day ended November 14, 2024, highlighting a slight decline in the market as a whole.

Despite the decline in the index, trading activity saw an uptick as investors traded 291 million shares – a notable 18% increase from the 246 million shares recorded in the previous session – executed in 7,931 transactions.

Amid the overall decline, the winners chart brought some positive highlights. Flour Mills of Nigeria (FLOURMILL) emerged as the top performer with an impressive 10.00% increase, claiming the top spot among the progressives.

Just behind, TIP and John Holt (JOHNHOLT) performed strongly, climbing 10.00% and 9.86% respectively.

On the other hand, Abbey Mortage Bank (ABBYBDS) led the losers, losing 9.77%, followed by ABC Transport (ABCTRANS) with a decline of 9.45%, both marking significant losses for the session.

In terms of trading volume, Access Holdings (ACCESSCORP) and United Bank for Africa (UBA) emerged as the most traded stocks.

Market Summary

• Current ASI: 97,233.07 points

• Previous ASI: 97,418.83 points

• Performance since the start of the year: +30.04%

• Volume traded: 291 million shares

Top 5 winners

• FLOUR MILL: Up 10.00% to N71.50

• JOHNHOLT: up 9.86% to N7.02

• INTEGINES: up 9.85% to N1.45

• SUNUASSUR: up 9.73% to N2.48

Top 5 losers

• ABBEYBDS: down 9.77% to N2.40

• ABCTRANS: down 9.45% to N1.15

• CONOIL: down 6.15% to N244.00

• BUACEMENT: down 5.93% to N92.00

• DEPOSITORY: Down 4.76% to N12.00.

Trading volume

The market saw a sharp increase in trading activity, with daily trading volume increasing by 18%. Investors traded a total of 291 million shares, a significant increase from the 246 million shares traded in the previous session.

Access Holdings (ACCESSCORP) led the charge as the most actively traded stock, recording a staggering 60.3 million shares in trading.

United Bank for Africa (UBA) followed with 17.9 million shares, while Zenith Bank (ZENITHBANK), Oando (OANDO) and United Capital (UCAP) rounded out the top five with volumes of 16.2 million, 15.6 million and 15.4 million shares. respectively.

Commercial value

In terms of value, ACCESSCORP stood out, leading the market with transactions worth N1.5 billion. Oando followed closely with transactions valued at N950.4 million.

Aradel Holdings (ARADEL) and Zenith Bank also made notable contributions, recording trading values ​​of N838.1 million and N695.4 million, respectively.

Completing the top five, Conoil (CONOIL) recorded transactions valued at N603.9 million, highlighting the strong investor activity in these counters.

SWOOT and FUGAZ actions

In the SWOOT category – stocks with a market valuation exceeding N1 trillion – BUA Cement and Oando were the only players of the day.

• Both closed in negative territory, with BUA Cement losing 5.93% and Oando losing 3.23%. The remaining SWOOT stocks remained stable.
• Among FUGAZ stocks (comprising FBN Holdings, UBA, GTCO, ACCESSCORP and Zenith Bank), performance was mixed.

ACCESSCORP fell 0.20%, while Zenith Bank saw no price movement. On the positive side, FBN Holdings, UBA and GTCO recorded gains of 1.46%, 0.76% and 0.55%, respectively.

Market Outlook

The All-Share index remains just above the 97,000 point mark, despite the session closing in negative territory. Continued bullish price activity could provide the momentum needed to push the index higher.

Investor confidence, supported by strong third-quarter financial results in key sectors, is expected to generate further gains in the coming trading sessions.

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