Quick Read: On January 9, 2025, the Nigerian stock market’s All-Share Index (ASI) surged by 1,300.01 points, closing at a record high of 105,530.74, surpassing the 105,000 mark. Despite this significant increase, trading volume fell by 23.4% to 489 million shares, indicating reduced market participation. Notably, MTNN and HONYFLOUR led the gainers with increases of 10.00% and 9.89%, while RTBRISCOE experienced the largest decline, dropping by 10.00%.
Nigerian stock market, tracked by the All-Share Index (ASI), concluded the trading day on January 9, 2025, with a significant milestone. The ASI gained 1,300.01 points, closing at an all-time high of 105,530.74.
Breaking the 105,000 Barrier
This robust performance not only broke through the 105,000-point barrier but also marked a 1.25% increase from the previous day’s close of 104,230.73. The index dismantled the resistance level of 104,562, which had held firm since March 2024.
Decline in Trading Volume
Despite the bullish price action, trading volume experienced a sharp decline of 23.4%. The number of shares exchanged dropped from 639 million to 489 million, reflecting reduced market participation.
Surge in Market Capitalization
Market capitalization climbed to N64.3 trillion, a significant increase from the previous session’s N63.5 trillion. This was fueled by rising stock prices across 13,010 transactions.
Top Performers
MTNN and HONYFLOUR led the gainers with impressive increases of 10.00% and 9.89%, respectively. These performances underscored growing investor confidence in these nigerian stocks.
Top 5 Gainers:
- MTNN: Up 10.00% to N242.00
- HONYFLOUR: Up 9.89% to N9.11
- UNIVINSURE: Up 9.86% to N0.78
- TRANSCOHOT: Up 9.78% to N127.35
- IKEJAHOTEL: Up 9.31% to N13.50
Notable Decliners
On the flip side, RTBRISCOE recorded the steepest decline, dropping 10.00%, followed closely by SUNUASSUR with a 9.99% decrease.
Top 5 Losers:
- RTBRISCOE: Down 10.00% to N2.34
- SUNUASSUR: Down 9.99% to N8.11
- TIP: Down 9.68% to N2.52
- UPDC: Down 9.50% to N1.81
- GUINEAINS: Down 8.08% to N0.91
Market Activity Highlights
Trading Volume
Market trading volume declined to 489 million shares, a drop of 23.4% from the previous session. Key highlights include:
- UNIVINSURE: 97.2 million shares traded
- AIICO: 54.2 million shares
- SOVRENINS: 24.9 million shares
- FBNH: 16.2 million shares
- GUINEAINS: 14.6 million shares
Trading Value
In terms of trading value, SEPLAT dominated with transactions totaling N4.5 billion. Other significant contributors included:
- MTNN: N1.1 billion
- PRESCO: N673.6 million
- TRANSCORP: N643.5 million
- ARADEL: N638.8 million
SWOOT and FUGAZ Stocks Performance
SWOOT Stocks
MTNN led the SWOOT category with a remarkable 10% surge.
FUGAZ Stocks
The FUGAZ stocks—FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK—had mixed outcomes:
- ZENITHBANK: Up 4.49%
- ACCESSCORP: Up 0.82%
- UBA: Up 0.59%
- FBNH: Down 1.27%
- GTCO: Unchanged
Market Outlook
The All-Share Index has surpassed the 105,000-point mark, reflecting strong bullish sentiment despite the drop in trading volume. With sustained momentum in mid- and large-cap stocks, the index appears poised to challenge the 106,000-point barrier in the coming sessions.
Market Summary
- Current ASI: 105,530.74 points
- Previous ASI: 104,230.73 points
- Day Change: +1.25%
- Year-to-Date Performance: +2.53%
- Volume Traded: 489 million shares
- Market Cap: N64.3 trillion
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