CUTIX, ELLAHLAKES, others rally 10% as All-Share Index reclaims 120,000 level 

The Nigerian stock market closed on a strong note on July 2nd, adding 598.67 points to end the day at 120,339.9.

This represents a 0.50% gain from the previous close of 119,741.2, pushing the All-Share Index back above the 120,000 mark.

Trading activity surged, with daily volume jumping to 1.04 billion shares, nearly double the 527 million shares traded the previous day.

Market capitalization also rose sharply, settling at N76.1 trillion across 21,964 deals, comfortably reclaiming the N76 trillion threshold.

On the gainers’ chart, CUTIX, ELLAHLAKES,  SMURFIT, NSLTECH, and OMATEK all hit the upper limit with 10.00% gains.

Meanwhile, DEAPCAP and JOHNHOLT led the laggards, declining by 9.09% and 5.41%, respectively.

In terms of trading volume, ROYALEX and JAPAULGOLD stood out as the most actively traded stocks of the session.

Market summary   

• Current ASI: 120,339.9
• Previous ASI: 119,741.2
• Day Change: +0.5%
• Year-to-Date Performance: +16.92%
• Volume Traded: 1.04 billion shares
• Market Cap: N76.1 trillion

Top 5 gainers   

• ELLAHLAKES: Up 10.00% to N9.24
• CUTIX: Up 10.00% to N3.96
• SMURFIT: Up 10.00% to N0.66
• NSLTECH: Up 10.00% to N0.66
• OMATEK: Up 10.00% to N0.88

Top 5 losers   

• DEAPCAP: Down 9.09% to N1.00
• JOHNHOLT: Down 5.41% to N7.00
• DANGSUGAR: Down 5.32% to N44.50
• UNIVINSURE: Down 4.76% to N0.60
• OANDO: Down 4.73% to N52.35

Trading volume 

Daily trading volume surged to 1.04 billion shares, nearly doubling the 527 million shares recorded the previous day.

• ROYALEX led the volume chart with a hefty 218.6 million shares traded.
• JAPAULGOLD followed closely with 174 million shares, while ELLAHLAKES maintained strong momentum, recording 83.4 million shares.
• WEMABANK and CHAMS completed the top five with 71.1 million and 37.5 million shares, respectively.

Trading value 

• WEMABANK topped the chart with N1.06 billion worth of shares exchanged.
• Nigerian Breweries (NB) followed closely with N1.05 billion.
• ZENITHBANK posted N975.4 million in trade value, while ELLAHLAKES saw a solid N762.2 million.
• ACCESSCORP rounded out the top five with trades worth N706.1 million.

SWOOTs & FUGAZ performance 

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

• International Breweries surged 7.91%, Nigerian Breweries rose 3.33%, WAPCO added 3.03%, ARADEL inched up 0.10%.

In the FUGAZ banking group:

• ZENITHBANK gained 1.69%.
• ACCESSCORP climbed 0.87%.
• UBA rose 0.42%.

FBNH (FIRSTHOLDCO) remained unchanged.

• GTCO dipped slightly by 0.31%.

Market outlook 

Wednesday’s rally shows renewed buying interest, especially in large-cap stocks, as the index reclaims ground above the 120,000 mark.

If this momentum continues, the market could see further upward movement, reinforcing optimism among investors in the days ahead.