The Nigerian stock market closed positively on October 4, 2024, with the All-Share Index (ASI) rising by 0.47%, gaining 456.12 points to reach 97,520.54. This increase was bolstered by a 20% surge in trading activity, resulting in a total volume of 320 million shares exchanged.
Strong performance from SEPLAT continued into Friday, making it the top performer of the day with a 10.00% increase, while UBA led in trading volume. ABCTRANS also saw significant gains, rising by 9.92%. The total traded shares marked a notable increase from the previous session’s 268 million.
On the downside, ETERNA recorded the largest loss, dropping by 10.00%, followed by PZ and REGALINS, which fell by 9.49% and 8.89%, respectively.
Market Summary
– Current ASI: 97,520.54 points
– Previous ASI: 97,064.42 points
– Day Change: +0.47%
– Year-to-Date Performance: +30.42%
– Volume Traded: 320 million shares
– Deals: 8,763
Top 5 Gainers
– SEPLAT: up 10.00% to N4,964.70
– ABCTRANS: up 9.82% to N1.23
– Livestock: up 9.70% to N3.28
– CAVERTON: up 9.62% to N2.62
– FTNCOCOA: up 9.29% to N2.00
Top 5 Losers
– ETERNA: down 10.00% to N27.00
– PZ: down 9.49% to N17.65
– REGALINS: down 8.89% to N0.82
– MANSARD: down 7.08% to N5.51
– DANGSUGAR: down 5.85% to N30.60
Trading Volume
The market experienced heightened activity with a total of 320 million shares traded, an increase from the previous day’s volume of 268 million shares. UBA led with 36.73 million shares traded, followed by STERLINGNG with 23.56 million shares.
Other notable stocks included ELLAHLAKES (23.30 million shares), WAPCO (16.67 million shares), and REGALINS (13.60 million shares).
Trading Value
In terms of trading value, UBA also topped the list with transactions worth N991.43 million, followed by OANDO at N746.38 million and SEPLAT at N708.54 million.
SWOOT and FUGAZ Performance
Among the SWOOT stocks, price movements remained stable for AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, MTNN, and DANGOTE CEMENT; however, SEPLAT surged by 10%. In the FUGAZ category (top-tier banking stocks), FBNH, UBA, and GTCO recorded modest gains of 1.21%, 1.30%, and 0.82%, respectively.
Access Bank remained unchanged while Zenith Bank dipped slightly by 0.53%.
Market Outlook
With the ASI rebounding from recent declines, analysts expect it to surpass the 99,000-point mark in the coming weeks, driven by renewed momentum from the banking, oil and gas, and insurance sectors in the week ahead.
