The Nigerian stock market, tracked by the All-Share Index, concluded the trading session on February 3, 2025, on a positive note, gaining 134.18 points to close at 104,630.30.
This reflects a 0.13% increase from the previous close of 104,496.12, which had placed the index below the 104,500-threshold.
Notably, trading volume experienced a significant decline, falling by 56% from 1.1 billion shares on the previous trading day to 510.5 million.
Market capitalization remained stable, surpassing the N64 trillion threshold at N64.72 trillion, resulting from 14,611 deals.
In terms of individual stock performance, PRESCO and BETAGLAS recorded impressive gains of 10.00% each. Conversely, UPL and OMATEK faced declines of 10.00% and 9.88%, respectively.
Additionally, FBNH and ZENITHBANK emerged as leaders in trading activity, significantly influencing the day’s turnover.
Market summary
- Current ASI: 104,630.30 points
- Previous ASI: 104,496.12 points
- Day Change: 0.13%
- Year-to-Date Performance: +1.66%
- Volume Traded: 510.5 million shares
- Market Cap: N64.7 trillion
Top 5 gainers
- PRESCO: up 10.00% to N643.50
- BETAGLAS: up 10.00% to N78.65
- OKOMUOIL: up 9.99% to N537.20
- NNFM: up 9.98% to N66.65
- CHELLARAM: up 9.95% to N7.18
Top 5 losers
- UPL: down 10.00% to N5.04
- OMATEK: down 9.88% to N0.73
- SCOA: down 9.83% to N3.67
- LASACO: down 8.33% to N2.75
- NGXGROUP: down 8.14% to N27.10
Trading volume
The trading volume experienced a significant decline of 56%, dropping from 1.1 billion shares to 510.5 million.
- FBNH led the market with an impressive 83.90 million shares traded.
- ZENITHBANK closely followed, contributing 54.5 million shares.
- UNIVINSURE secured the third position with 32.5 million shares traded.
- UBA and FIDELITYBK also made noteworthy contributions, with 31.5 million and 19.4 million shares traded, respectively.
Trading value
In terms of trading value, the session was dominated by:
- ZENITHBANK, achieving transactions worth N2.7 billion.
- FBNH contributed a notable N2.4 billion.
- UBA and ARADEL added N1.1 billion and N771.3 million, respectively.
- MTNN rounded off the day with N720 million in trades.
SWOOT and FUGAZ performance
- In the SWOOT category, OANDO and MTNN recorded gains of 1.24% and 0.15%, respectively, while WAPCO experienced a decline of 1.13%.
The FUGAZ group exhibited mixed results:
- FBNH, ZENITHBANK, and UBA fell by 1.50%, 1.19%, and 0.53%, respectively.
- GTCO and ACCESSCORP reported no price movements.
Market outlook
The market appears set for positive developments, with an influx of financial results in late January and early February. This could potentially propel the index past the 105,000 mark once again.
If the index maintains bullish momentum above the 104,500-barrier without being seen as overbought, it may continue its ascent beyond the 105,000-threshold.
