The Nigerian stock market, tracked by the All-Share Index, ended the trading day on January 9, 2025, with a significant gain of 1,300.01 points, closing at a record high of 105,530.74.
This robust performance not only broke past the 105,000-barrier but also marked a 1.25% increase from the previous day’s 104,230.73, dismantling the resistance level of 104,562 that had held since March 2024.
However, despite the bullish price action, trading volume fell sharply, declining by 23.4%.
The number of shares exchanged dropped from 639 million the day before to 489 million on this occasion.
Fueled by the rising prices, market capitalization climbed to N64.3 trillion over 13,010 transactions, a significant uptick from the N63.5 trillion recorded in the prior trading session.
Among the day’s highlights, MTNN and HONYFLOUR delivered stellar performances with gains of 10.00% and 9.89%, respectively, reflecting a surge in investor enthusiasm.
Conversely, RTBRISCOE led the decliners with a notable drop of 10.00%, closely followed by SUNUASSUR, which fell by 9.99%.
The trading session was characterized by reduced market participation, with UNIVINSURE and AIICO standing out as the most actively traded stocks, significantly bolstering the day’s turnover.
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
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
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
Trading volume
Market trading volume took a hit, declining by 23.4% to a total of 489 million shares exchanged. Despite this downturn, several key players shone brightly:
- UNIVINSURE led the charge with an impressive 97.2 million shares traded.
- AIICO closely followed, recording 54.2 million shares.
- SOVRENINS secured the third position with 24.9 million shares, while FBNH saw 16.2 million shares change hands.
- GUINEAINS rounded out the top five with 14.6 million shares traded, indicating a relatively active day amidst the overall decline.
Trading value
In terms of trading value, SEPLAT dominated the market, generating transactions totaling N4.5 billion, a clear sign of robust investor confidence.
- MTNN followed with a healthy N1.1 billion in trades.
- PRESCO and TRANSCORP contributed N673.6 million and N643.5 million, respectively.
- ARADEL added N638.8 million to the day’s total, showcasing solid engagement across key counters.
SWOOT and FUGAZ performance
In the SWOOT category:
- MTNN surged impressively, gaining 10%.
As for the FUGAZ stocks—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK—outcomes differed:
- ZENITHBANK, ACCESSCORP, and UBA all saw gains of 4.49%, 0.82%, and 0.59%, respectively.
- FBNH dipped by 1.27%, while GTCO remained steady, posting no movement for the session.
Market outlook
The All-Share Index has surpassed the 105,000-point mark, buoyed by strong bullish sentiment despite the drop in market volume.
With positive momentum in mid- and large-cap stocks, the index may soon set its sights on challenging the 106,000-point barrier.
