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Nigerian All-Share Index Gains 2,800 Points as Market Cap Hits N91 Trillion

Nigerian All-Share Index jumps 2,808.71 points to close at 144,071.76 as top stocks like LASACO and UPDC hit 10% gains.
Nigerian All-Share Index

The Nigerian All-Share Index opened the week with a strong rally, gaining 2,808.71 points to close Monday, August 4, at 144,071.76. This marks a 1.99% increase from the previous close of 141,263.05, signaling positive investor sentiment despite lower trading volume.

Total market capitalization climbed to N91.1 trillion, up from N89.37 trillion on Friday. This rise occurred across 35,963 deals, showing broad-based participation.

Top Gainers and Losers

LASACO, ROYALEX, and UPDC topped the gainers’ list, each rising by the maximum 10%. UACN and SOVRENINS followed closely with gains of 9.97% and 9.94% respectively.

TRANSPOWER and ACADEMY were the session’s biggest laggards, both falling by 10%. JOHNHOLT, TOTAL, and ETI also posted notable losses, declining by 9.59%, 9.22%, and 9.21% respectively.

Volume and Value Leaders

Daily volume dropped to 811 million shares from Friday’s 1.08 billion. However, FCMB led the volume chart with 84.9 million shares, followed by UNIVINSURE with 82.5 million. FIDELITYBK, AIICO, and VERITASKAP rounded out the top five.

In terms of trade value, GTCO led with N2.7 billion, followed by ZENITHBANK at N1.8 billion and DANGCEM with N1.5 billion. FCMB and FIDELITYBK also saw strong investor interest, recording N979.4 million and N955.5 million respectively.

Performance of SWOOT and FUGAZ Stocks

SWOOT stocks showed mixed movement. DANGOTE CEMENT gained 9.22%, INTERNATIONAL BREWERIES rose 5.07%, and BUACEMENT advanced 4.73%.

FUGAZ banks posted a steadier performance. FIRSTHOLDCO rose by 0.60%, ZENITHBANK added 0.52%, and GTCO increased by 0.5%. However, UBA and ACCESSCORP dipped by 0.71% each.

The Nigerian All-Share Index continues its bullish trend with strong performances in heavyweight stocks and renewed investor confidence. If this momentum holds and the market avoids overheating, further gains are expected in the coming sessions.

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