Dangote Cement Lifts All-Share Index Past 146,900 to Fresh Record High

The Nigerian All-Share Index (ASI) closed the trading session of October 10th in positive territory, rising by 783.7 points to extend its winning streak to 11 consecutive days.

Gaining 0.54%, the index advanced from 146,204.3 to a new all-time high of 146,988.1, driven largely by bullish momentum in Dangote Cement.

Market activity also strengthened, as daily trading volume climbed to 385 million shares, up from 346 million recorded in the previous session.

Likewise, market capitalization followed the upward trend, increasing to N93.2 trillion across 21,842 deals, compared to N92.7 trillion previously.

• On the gainers’ chart, DANGOTE CEMENT and NEM INSURANCE stood out, appreciating 6.48% and 5.23% respectively.
• On the flip side, UHOMREIT and MEYER topped the losers’ list, shedding 9.98% and 9.85% apiece.

In terms of trading volume, FIDELITY BANK and CHAMS HOLDING emerged as the most actively traded stocks of the day.

Market summary 

• Current ASI: 146,988.1
• Previous ASI: 146,204.3
• Day Change: +0.54%
• Year-to-Date Performance: +42.81%
• Volume Traded: 385 million shares
• Market Cap: N93.2 trillion.

Top 5 gainers   

• DANGCEM: Up 6.48% to N575
• NEM: Up 5.23% to N29.15
• JAIZBANK: Up 4.65% to N4.50
• FTNCOCOA: Up 3.57% to N5.80
• CWG: Up 3.46% to N17.95

Top 5 losers   

• UHOMREIT: Down 9.98% to N51.85
• MEYER: Down 9.85% to N15.10
• STERLINGNG: Down 9.58% to N7.55
• CORNERST: Down 6.90% to N6.21
• ETRANZACT: Down 6.25% to N15.00

Trading volume 

Daily trading volume inched up to 385 million shares, compared to 346 million shares recorded in the previous session.

• FIDELITY BANK led the pack with 47.3 million shares, followed by CHAMS with 38.4 million.
• JAPAUL GOLD ranked third with 21.8 million shares, while ZENITH BANK and FCMB completed the top five with 18.2 million and 18.1 million shares, respectively.

Trading value 

In terms of value, SEPLAT dominated the chart with trades worth N1.28 billion.

• ZENITH BANK followed closely with N1.25 billion, while DANGOTE CEMENT recorded N1.1 billion.
• FIDELITY BANK posted N959 million, and ARADEL rounded out the list with N895.3 million.

SWOOT & FUGAZ Performance 

Stocks Worth Over One Trillion Naira (SWOOTs) ended the session on a positive note.

• Dangote Cement gained 6.48%, Lafarge rose 0.23%, while Nigerian Breweries edged up 0.19%.

Among the tier-one banks (FUGAZ), performance was mixed.

• UBA advanced 1.3%, while GTCO and AccessCorp closed flat.
• Zenith Bank declined 1.01%, and First HoldCo slipped 0.32%.

Market outlook 

The Nigerian All-Share Index has firmly re-established its bullish momentum, reclaiming and surpassing the 145,000 and 146,000 levels.

Sustained gains in mid- and large-cap stocks are expected to further reinforce the rally in the near term.