The Nigerian All-Share Index closed lower on Wednesday, August 20, extending its losing streak as it shed 1,047.16 points to settle at 141,566.31.

This followed a sharp drop of over 2,100 points the previous day, with the index slipping by 0.73% from Tuesdays close of 142,613.47.

Trading activity was also weaker, as market volume eased to 721.8 million shares from 1.02 billion shares recorded the day before.

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Market capitalization fell below the N90 trillion mark, closing at N89.5 trillion across 28,745 deals, compared to N90.2 trillion previously.

AUSTINLAZ and CHAMPION led the gainers chart, advancing by 10% and 9.97% respectively.

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On the downside, GUINNESS and CONOIL both dipped by 9.98% each.

In terms of activity, CHAMPION and UNIVINSURE emerged as the most heavily traded stocks of the day.

Market summary   

  • Current ASI: 141,566.31
  • Previous ASI: 142,613.47
  • Day Change: -0.73%
  • Year-to-Date Performance: +37.54%
  • Volume Traded: 721.8 million shares
  • Market Cap: N89.5 trillion

Top 5 gainers   

  • AUSTINLAZ: Up 10.00% to N2.64
  • CHAMPION: Up 9.97% to N19.74
  • 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 slowed further as turnover declined from 1.02 billion shares to 721.8 million shares.

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  • CHAMPION led the volume chart with 54.5 million shares traded.
  • UNIVINSURE followed with 47.8 million shares, reflecting continued investor interest.
  • ROYALEX came in third at 46.1 million shares.
  • REGALINS and AIICO rounded out the top five with 40.7 million and 39.2 million shares, respectively.

Trading value 

In value terms, tier-one banks and blue chips dominated:

  • ZENITHBANK topped the chart with trades worth N1.26 billion.
  • MTNN was close behind at N1.25 billion.
  • CHAMPION registered N988.2 million in deals.
  • GTCO recorded N941.9 million, while STANBIC closed out the top five with N773 million.

SWOOT & FUGAZ performance 

The SWOOTs (Stocks Worth Over One Trillion Naira) posted a mixed performance:

  • International Breweries tumbled 9.75%, while Nigerian Breweries slipped 2.43%.
  • Fidelity Bank also edged down 0.72%.

Among the FUGAZ banks:

  • GTCO dropped 5.11%, and ACCESSCORP dipped 0.18%.

On the upside, ZENITH BANK gained 1.42%, while FIRSTHOLD and UBA closed flat.

The market is in a retracement phase, with the index on course to dip below the 141,000 level, and potentially 140,000, if bearish sentiment persists.

Further weakness in large-cap stocks could accelerate the overall market decline.

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Tags: All Share Index Nigerian stock market