The Nigerian stock market closed in the green on Friday, January 17, 2025, with a gain of 170.62 points, finishing at 102,353.68.
This marks an increase of 0.17% from the previous day’s closing figure of 102,183.06, despite a noticeable decline in trading volume.
Trading activity dropped by 30.5%, totaling 327.8 million shares, compared to 472 million shares the day prior.
Meanwhile, market capitalization rose to N62.8 trillion, up from N62.3 trillion, as the index approached the 63 trillion mark once again.
On the positive side, CAVERTON, LIVESTOCK, and SOVRENINS each recorded significant gains of 10.00%. Conversely, ACADEMY and PZ emerged as the notable decliners, with losses of 9.74% and 9.09%, respectively.
Overall, market volume experienced a downturn with ACCESSCORP and FIDELITYBK leading the trading charts as the most actively traded stocks, making substantial contributions to the day’s overall turnover.
Market summary
- Current ASI: 102,353.68 points
- Previous ASI: 102,183.06 points
- Day Change: +0.17%
- Year-to-Date Performance: -0.56%
- Volume Traded: 327.8 million shares
- Market Cap: N62.8 trillion
Top 5 gainers
- CAVERTON: up 10.00% to N2.20
- LIVESTOCK: up 10.00% to N5.94
- SOVRENINS: up 10.00% to N1.10
- NEIMETH: up 9.94% to N3.43
- ROYALEX: up 9.88% to N0.89
Top 5 losers
- ACADEMY: down 9.74% to N5.40
- PZ: down 9.09% to N15.62
- DAARCOMM: down 8.64% to N3.12
- TRANSCORP: down 5.91% to N0.68
- DANGSUGAR: down 4.94% to N0.68
Trading volume
The market experienced a notable decrease in trading activity, with volume declining by 30.5% to 327.8 million shares. Key highlights from the session include:
- ACCESSCORP led the pack, trading an impressive 49.1 million shares.
- FIDELITYBK closely followed with 20.3 million shares exchanged.
- UBA secured the third spot, recording 20 million shares.
- OANDO and UNIVINSURE contributed 14.8 million and 13.8 million shares, respectively.
Trading value
In terms of trading value, the day was dominated by:
- ARADEL, which reported transactions worth N2.9 billion.
- BUAFOODS followed with trades totaling N1.9 billion.
- ACCESSCORP and OANDO contributed N1.1 billion and N998 million, respectively.
- UBA rounded out the day with N681 million.
SWOOT and FUGAZ Performance
SWOOT category
- OANDO soared by 9.28%.
- Conversely, ARADEL faced a slight decline of 0.02%.
FUGAZ stocks
The FUGAZ group, comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK, delivered a mixed performance:
- FBNH gained 0.52%.
- ACCESSCORP, ZENITHBANK, and UBA experienced declines of 1.63%, 0.32%, and 0.15%, respectively.
- GTCO showed no price movements.
Market outlook
- After a four-day downturn, the index is showing signs of a modest rebound, marked by two consecutive days of gains.
- Though the gains may appear modest, they indicate a potential correction, presenting an opportunity for investors to enter at a lower price point created by the previous four-day retracement.
