Equity Market Rises 0.57% in Mixed Trading

The Nigerian equity market witnessed an eventful trading session on Wednesday, January 29, 2025, as investors navigated through a mix of gains and losses.

Despite a notable decline in trading volume and turnover, improved market activity signaled growing investor interest and resilience.

The benchmark NGX All-Share Index (ASI) climbed by 590.99 points (0.57%) to close at 104,549.74, marking a 1.67% gain over the past week, a 1.58% increase in four weeks, and a year-to-date rise of 1.58%.

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The overall market capitalization stood at NGN 64.5 trillion, reflecting a modest increase in market value.

Trading volume declined by 23%, with a total of 417.6 million shares exchanged in 16,253 deals, amounting to a market turnover of NGN 13.48 billion. However, the number of transactions saw a 4% uptick, indicating heightened investor participation.

Among the 125 listed equities that traded, 26 stocks gained while 38 declined. Aradel Holdings emerged as the top performer, surging 10% to close at NGN 594.00 per share, followed by Chellarams (+9.98%), Stanbic IBTC Holdings (+9.92%), and University Press (+9.64%). On the flip side, Caverton Offshore Support Group saw a 10% drop, closing at NGN 2.07 per share, while McNichols (-10%), Thomas Wyatt Nigeria (-9.8%), and Veritas Kapital Assurance (-9.79%) also recorded significant declines.

In terms of trading activity, Universal Insurance Company led with 33.6 million shares traded, followed by Fidelity Bank (31.9 million), FCMB Group (23.1 million), and Japaul Gold and Ventures (20.2 million).

The equity market’s strong performance, despite the dip in volume, reflects investors’ confidence in select blue-chip stocks, particularly in the banking and consumer goods sectors. As market conditions continue to evolve, investors remain watchful for opportunities in an increasingly dynamic trading environment.