CHAMPION and AUSTINLAZ outperformed as the All-Share Index fell 0.73%. Nigeria’s All-Share Index closed lower on Wednesday, August 20, extending its decline, shedding 1,047.16 points to 141,566.31.
The previous day, the index had plummeted by over 2,100 points, representing a 0.73% drop from Tuesday’s close of 142,613.47.
Trading activity also weakened, with market volume falling to 721.8 million shares, down from 1.02 billion the previous day.
Market capitalization fell below the 90 trillion naira mark, closing at 89.5 trillion naira, with 28,745 trades, compared to 90.2 trillion naira previously.
AUSTINLAZ and CHAMPION were among the top gainers. They rose by 10% and 9.97% respectively.
On the other hand, GUINNESS and CONOIL fell by 9.98% each.
In terms of activity, CHAMPION and UNIVINSURE were the most traded stocks of the day.
Market Overview
- Current ASI: 141,566.31
- Previous ASI: 142,613.47
- Change on the day: -0.73%
- Year-to-date performance: +37.54%
- Volume: 721.8 million shares
- Market capitalization: 89.5 trillion naira
Top 5 gainers
- AUSTINLAZ: Up 10.00% to 2.64 naira
- CHAMPION: Up 9.97% to 19.74 naira
- NCR: Up 9.77% to N9.55
- MULTIVERSE: Up 8.82% to N11.10
- ENAMELWA: Up 8.64% to N39.00
Top 5 losers
- CONOIL: Down 9.98% to N211.10
- GUINNESS: Down 9.98% to N140.20
- CONHALLPLC: Down 9.94% to N4.35
- ROYALEX: Down 9.92% to N2.27
- ELLAHLAKES: Down 9.81% to N14.90
Trading Volume
Market activity continued to slow, with trading volume falling from 1.02 billion shares to 721.8 million.
- CHAMPION led the trading volume charts with 54.5 million shares traded.
- UNIVINSURE followed closely with 47.8 million shares traded, reflecting continued investor interest.
- ROYALEX was third with 46.1 million shares traded.
- REGALINS and AIICO rounded out the top five with 40.7 million and 39.2 million shares respectively.
Trading Value
In terms of value, Tier 1banks and blue-chip stocks dominated:
- ZENITHBANK topped the list with a trading value of N1.26 billion.
- MTNN followed closely behind with a trading value of N1.25 billion.
- CHAMPION had a trading value of N988.2 million.
- GTCO had a trading value of N941.9 million, while STANBIC ranked fifth with N773 million.
SWOOT & FUGAZ Performance
SWOOT (stocks with a market capitalization of over $1 trillion Naira) had mixed performance:
- International Breweries fell 9.75%, while Nigerian Breweries fell 2.43%.
- Fidelity Bank also fell 0.72%.
In FUGAZ banks:
- GTCO fell 5.11% and ACCESSCORP fell 0.18%.
On the upside, ZENITH BANK rose 1.42%, while FIRSTHOLD and UBA closed flat.
Market Outlook
The market is in a correction phase, and if bearish sentiment persists, the index is expected to fall below the 141,000 mark and even below 140,000 points.
Further weakness in large-cap stocks could exacerbate the overall market decline. Accelerate.
..
Nigeria’s All-Share Index closed lower on Wednesday, August 20, extending its decline, shedding 1,047.16 points to 141,566.31.
The previous day, the index had plummeted by over 2,100 points, representing a 0.73% drop from Tuesday’s close of 142,613.47.
Trading activity also weakened, with market volume falling to 721.8 million shares, down from 1.02 billion the previous day.
Market capitalization fell below the 90 trillion naira mark, closing at 89.5 trillion naira, with 28,745 trades, compared to 90.2 trillion naira previously.
AUSTINLAZ and CHAMPION were among the top gainers. They rose by 10% and 9.97% respectively.
On the other hand, GUINNESS and CONOIL fell by 9.98% each.
In terms of activity, CHAMPION and UNIVINSURE were the most traded stocks of the day.
Market Overview
- Current ASI: 141,566.31
- Previous ASI: 142,613.47
- Change on the day: -0.73%
- Year-to-date performance: +37.54%
- Volume: 721.8 million shares
- Market capitalization: 89.5 trillion naira
Top 5 gainers
- AUSTINLAZ: Up 10.00% to 2.64 naira
- CHAMPION: Up 9.97% to 19.74 naira
- NCR: Up 9.77% to N9.55
- MULTIVERSE: Up 8.82% to N11.10
- ENAMELWA: Up 8.64% to N39.00
Top 5 losers
- CONOIL: Down 9.98% to N211.10
- GUINNESS: Down 9.98% to N140.20
- CONHALLPLC: Down 9.94% to N4.35
- ROYALEX: Down 9.92% to N2.27
- ELLAHLAKES: Down 9.81% to N14.90
Trading Volume
Market activity continued to slow, with trading volume falling from 1.02 billion shares to 721.8 million.
- CHAMPION led the trading volume charts with 54.5 million shares traded.
- UNIVINSURE followed closely with 47.8 million shares traded, reflecting continued investor interest.
- ROYALEX was third with 46.1 million shares traded.
- REGALINS and AIICO rounded out the top five with 40.7 million and 39.2 million shares respectively.
Trading Value
In terms of value, Tier 1banks and blue-chip stocks dominated:
- ZENITHBANK topped the list with a trading value of N1.26 billion.
- MTNN followed closely behind with a trading value of N1.25 billion.
- CHAMPION had a trading value of N988.2 million.
- GTCO had a trading value of N941.9 million, while STANBIC ranked fifth with N773 million.
SWOOT & FUGAZ Performance
SWOOT (stocks with a market capitalization of over $1 trillion Naira) had mixed performance:
- International Breweries fell 9.75%, while Nigerian Breweries fell 2.43%.
- Fidelity Bank also fell 0.72%.
In FUGAZ banks:
- GTCO fell 5.11% and ACCESSCORP fell 0.18%.
On the upside, ZENITH BANK rose 1.42%, while FIRSTHOLD and UBA closed flat.
Market Outlook
The market is in a correction phase, and if bearish sentiment persists, the index is expected to fall below the 141,000 mark and even below 140,000 points.
Further weakness in large-cap stocks could exacerbate the overall market decline. Accelerate.
Published in Finance
Okoye Izuchukwu is a seasoned financial market writer and trader, specializing in both Nigerian and global markets. With a sharp understanding of market dynamics and a flair for insightful analysis, he simplifies complex financial concepts into compelling and accessible content. Drawing on his hands-on trading experience and in-depth research, Okoye delivers valuable insights to help readers navigate the constantly changing landscape of finance with confidence.
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