The Nigerian All-Share Index closed strongly in the green on May 26th, surging by 856.31 points to finish at 109,884.93.

This represents a 0.79% gain from the previous close of 109,028.62, as strong performances by ARADEL and BUAFOODS, the second-largest Nigerian stock, helped keep the index above the 109,000 mark.

Despite the impressive rebound in prices, market activity by volume saw a notable dip, with total turnover dropping to N414.3 billion, down from N637.5 billion in the prior session.

Meanwhile, market capitalization rose to N69.2 trillion, up from N68.7 trillion recorded in the previous session.

• Leading the pack of top gainers were ARADEL and UPL, which soared by 9.98% and 9.86%, respectively.
• On the flip side, TRIPPLEG and MRS saw steep declines, shedding 10.00% and 9.97% each.

FIDELITY and CUSTODIAN emerged as the most actively traded stocks, commanding significant investor interest and volume throughout the session.

Market summary

• Current ASI: 109,884.93
• Previous ASI: 109,028.62
• Day Change: +0.79%
• Year-to-Date Performance: +6.76%
• Volume Traded:  414.3 .million shares
• Market Cap: N69.2 trillion

Top 5 gainers

• ARADEL: Up 9.98% to N505.90
• UPL: Up 9.86% to N4.79
• ABCTRANS: Up 8.43% to N2.70
• LINKASSURE: Up 8.16% to N1.59
• CILEASING: Up 7.32% to N4.40

Top 5 losers

• TRIPPLEG: Down 10.00% to N2.07
• MRS: Down 9.97% to N141.80
• CHELLARAM: Down 9.96% to N10.58
• UHOMREIT: Down 9.95% to N45.70
• IMG: Down 9.91% to N35.90

Trading volume

Even as prices soared, trading volume took a step back, falling to N414.5 million from N637.5 million in the previous session.

• Leading the charge was FIDELITYBK, topping the activity chart with an impressive 46.7 million shares traded.
• Not far behind, CUSTODIAN saw strong interest with 37.1 million shares changing hands.
• ACCESSCORP also captured investor attention, recording 35.9 million shares traded.
• Meanwhile, GTCO and ZENITHBANK remained active, with 24.9 million and 17.9 million shares exchanged, respectively.

Trading value 

• GTCO led the value chart, with trades totaling N1.7 billion.
• Not far behind, ZENITHBANK recorded N862.2 million in transactions.
• FIDELITYBK followed closely, posting N855.4 million in turnover, while ARADEL contributed N791.7 million.
• ACCESSCORP rounded out the top value trades with N783.6 million.

SWOOTs and FUGAZ performance 

Among the SWOOTs (Stocks Worth Over One Trillion Naira):

• ARADEL soared by 9.98%, while BUAFOODS gained 5.26%. INTERNATIONAL BREWERIES added a modest 2.15%.
• On the flip side, NIGERIAN BREWERIES slipped 0.09%, and SEPLAT lost 1.3%.

Within the FUGAZ banking group:

• FIRSTHOLD gained 2.39%, ACCESSCORP rose 1.62%, and ZENITHBANK climbed 1.79%.
• UBA slipped 0.15%, while GTCO declined 2.29%.

Market outlook 

The All-Share Index soared strongly, spurred by daily bullish price action.

Continued strength among mid- and large-cap stocks could provide the momentum needed to push the market back onto a bullish trajectory.

[Nairametrics]