The All-Share Index concluded the trading week ending on 7th February 2025 with a notable increase, rising by 1,436.91 points to reach a closing value of 105,933.03.
This marks a 1.38% gain compared to the previous week’s closing figure of 104,496.12, amid favorable performance in the banking sector.
Despite the bullish price action, trading volume experienced a decline of 5.94%, decreasing from 3.1 billion shares in the prior week to 2.9 billion shares.
In contrast, market capitalization reflected positive momentum, climbing from N64.7 trillion at the start of the week to close at N65.9 trillion.
During this period, fifty-eight (58) equities recorded price appreciation, an increase from fifty-two (52) in the preceding week. Conversely, thirty-four (34) equities experienced price depreciation, a decrease from forty-four (44) in the prior week.
Market overview
The Nigerian stock market experienced a positive week, with mid and large-cap stocks leading the charge on the gainers’ chart.
All-Share closed in the green on all trading days during the week, particularly benefiting from notable surges on Wednesday and Friday.
Key highlights of the week
- The NGX Premium Index recorded a robust weekly increase of 2.19%, bolstered by impressive gains exceeding 5% from FBN Holdings (FBNH), Access Bank (ACCESSCORP), and WAPCO, alongside moderate advancements in UBA and MTNN.
- NGX 30 Index rose by 1.42%, while the NGX Main Board Index also finished positively, gaining 0.97%.
Sectoral indices
- The NGX Banking Index surged by an impressive 4.66%, fueled by gains of over 7% in FBNH, ACCESSCORP, and FIDELITY.
- NGX Insurance Index saw a substantial increase of 1.61%, driven by remarkable gains exceeding 20% in INTERNATIONAL ENERGY INSURANCE PLC and SOVEREIGN TRUST INSURANCE PLC.
- The NGX Industrial Goods and Oil & Gas sectors recorded gains of 0.85% and 0.56%, respectively.
- Conversely, the NGX Consumer Goods Index experienced a decline of 0.60%, despite gains surpassing 20% in CADBURY.
Overall, the week showcased a vibrant market, characterized by significant sectoral performances and investor confidence.
Top gainers
Leading the charge among gainers was UPDC PLC, which climbed by 38.50% month-to-date, followed by ETERNA PLC at 32.79%. Other notable gainers included:
- INTERNATIONAL ENERGY INSURANCE PLC: up 29.53%, N2.50
- CADBURY NIGERIA PLC: up 27.61%, N29.35
- FIDSON HEALTHCARE PLC: up 24.40%, N20.90
- SOVEREIGN TRUST INSURANCE PLC: up 21.00%, N1.21
- BETA GLASS PLC: up 20.98%, N86.50
- N NIG. FLOUR MILLS PLC: up 20.96%, N73.30
- CHELLARAMS PLC: up 20.83%, N7.89
- PRESCO PLC: up 19.69%, N700.20
Top losers
On the losers’ table was SUNU ASSURANCES NIGERIA PLC, which declined by 12.87% month-to-date, followed by UNIVERSITY PRESS PLC at 10.00%. Other notable losers included:
- MULTIVERSE MINING AND EXPLORATION PLC: down 9.95%, N9.05
- S C O A NIG. PLC: down 9.83%, N3.67
- TRIPPLE GEE AND COMPANY PLC: down 9.72%, N2.23
- MECURE INDUSTRIES PLC: down 9.71%, N12.55
- THOMAS WYATT NIG. PLC: down 9.31%, N1.85
- GOLDEN GUINEA BREW. PLC: down 8.91%, N7.87
- TANTALIZERS PLC: down 6.54%, N2.00
- CHAMPION BREW. PLC: down 6.33%, N3.70
Corporate actions overview
This week, the corporate landscape was vibrant with significant announcements that captured investor attention:
- PRESCO PLC released its Q4 unaudited financial statement for the period ending December 31, 2024.
- FIDSON HEALTHCARE PLC published its Q4 unaudited financial statement for the same period.
- UAC OF NIGERIA PLC announced the appointment of a new Board Chairman.
- GUINEA INSURANCE PLC issued its Q4 unaudited financial statement for the period ending December 31, 2024.
- FIDELITY BANK PLC released a press announcement regarding its public offer and rights issue.
Market outlook
The Nigerian stock market, as indicated by the All-Share Index, is currently experiencing a strong buying momentum, with price movements that might breach the psychological threshold of 106,000.
Provided the index is not perceived as overbought, the positive sentiment stemming from the forthcoming earnings reports in late January and early February could further propel the index upward.
