On October 8, 2024, the Nigerian stock market did not perform well. The All-Share Index (ASI), which tells us how the market is doing, went down by 0.12%.
We saw the ASI drop by 121.89 points, landing at 97,584.81. Even though the market had a lot of action with 719 million shares bought and sold (more than double the day before when only 308 million shares traded), the numbers still fell.
Imagine some companies doing really well and some not so much. REGALINS and PZ were the stars of the day, while companies like WAPIC and some banks had the most trades.
REGALINS was the biggest winner, going up by 10%. PZ wasn’t far behind, rising by 8.78%.
On the flip side, GUINNESS had a bad day, falling by 10%. AFRIPRUD and INTBREW also lost 9.86% and 9.07%, respectively.
Market Snapshot
- Where the market stands now (ASI): 97,584.81 points
- Where the market was before: 97,706.70 points
- Change today: Dropped by 0.12%
- Rise since the start of the year: Up by 30.51%
- How many shares traded today: 719 million
- Deals made: 9,435
Top 5 Winners
- REGALINS: up by 10% to N0.55
- PZ: up by 8.78% to N19.20
- CUTIX: went up 5.60% to N2.64
- DEAPCAP: rose 5.59% to N1.51
- TIP: increased 5.26% to N2.00
Top 5 Losers
- GUINNESS: down 10% to N6.80
- AFRIPRUD: dropped 9.86% to N9.60
- INTBREW: went down 9.07% to N4.01
- CWG: dipped 6.98% to N6.00
- UPDC: fell 5.95% to N1.58
Trading Volume
Today was a busy day with 719 million shares traded, which is much more than the 308 million the day before. WAPIC was very active with 402.25 million shares traded, followed by FIDELITYBK with 49.92 million shares.
Other busy stocks were ACCESSCORP (25.42 million shares), UBA (23.06 million shares), and VERISTASKAP (13.92 million shares).
Trading Value
When it comes to money, SEPLAT was on top with transactions worth N2.24 billion. FIDELITYBK followed with trades totaling N760.21 million.
OANDO and UBA also showed strength with trades worth N758.78 million and N648.21 million, and GUINNESS had N630.22 million in trades.
Performance of SWOOT and FUGAZ Companies
- For the SWOOT bunch, prices mostly stayed the same. AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, and DANGOTE CEMENT did not change.
- SEPLAT did well, going up by 5.09%, while MTNN had a small drop of 0.58%.
- In the FUGAZ group, FBNH and ACCESSCORP rose a bit by 2.36% and 1.02%, but GTCO, UBA, and ZENITH BANK went down by 3.67%, 1.79%, and 2.25%.
Looking Ahead
Though today wasn’t great, ASI seems to be fixing itself and could go above 99,000 points in the next few weeks. Big companies might help push this change forward.