Market Maintains Winning Streak
The Nigerian All-Share Index (ASI) sustained its upward momentum on 10 September, recording its fourth straight day of gains. The index climbed by 569.3 points to close at 140,365.4, marking a 0.41% advance from the previous day’s close of 139,796.1.
Market activity was brisk, with investors exchanging 767 million shares, a significant leap from the 659 million shares traded the previous session. Market capitalization closed at N88.81 trillion, reflecting continued confidence and keeping sentiment in positive territory.
Big Winners and Losers
The gainers’ chart was dominated by CHELLARAM and FTNCOCOA, each soaring 10%. BERGER followed closely with a 9.86% rise, while SUNUASSUR and LIVESTOCK posted gains of 8.91% and 8.11%, respectively.
On the flip side, MAYBAKER was the biggest drag, dropping 9.97% to N16.25. UNIONDICON shed 9.72%, while CILEASING, THOMASWY, and DEAPCAP all recorded losses of more than 6%.
Trading Volume and Value
Daily market volume hit 767.7 million shares. FCMB led the activity chart with an impressive 287.7 million shares, followed by Nigerian Breweries with 50.4 million. ARADEL secured the third spot with 43.4 million shares, while AccessCorp and Zenith Bank rounded out the top five with 40.2 million and 29 million shares, respectively.
In value terms, ARADEL was the clear standout, posting N23 billion worth of trades. Nigerian Breweries came next with N3.5 billion, followed by FCMB with N3.1 billion. GTCO recorded N2 billion, while Zenith Bank completed the list with N1.9 billion.
SWOOT and FUGAZ Highlights
Stocks Worth Over One Trillion Naira (SWOOTs) had a mixed performance. Lafarge gained 6.71%, ARADEL rose 3.68%, Nigerian Breweries climbed 2.12%, and Dangote Cement advanced 1.5%. However, International Breweries slipped 3.52%, reflecting some investor caution.
Among the FUGAZ stocks, AccessCorp rose 2.32%, UBA posted a marginal 0.11% gain, while Zenith Bank and FirstHoldCo remained flat. GTCO, however, closed lower with a 0.11% decline.
Market Outlook
The market appears to be recovering from its pullback earlier in September, when the ASI dipped to 138,157.1. If the current bullish momentum in large-cap stocks continues, the index could test and possibly reclaim the 141,000 level in the coming sessions.
For investors, the renewed market strength offers opportunities in select high-value stocks. ARADEL’s dominance in trading value signals renewed interest in key energy players, while the consistent performance of banking and industrial stocks shows that institutional investors are still actively positioning for long-term growth.
