The Nigerian Stock Exchange (NGX) concluded trading for the week on Friday, January 24, 2025, with 576,414,542 shares exchanged in 11,546 deals, totaling a market turnover of NGN 8,980,171,922.61. Compared to the previous trading session on Thursday, January 23, the market experienced a 48% surge in volume, a 58% decline in turnover, and a 5% drop in deals. The NGX’s total market capitalization remained at NGN 63.7 trillion.
Market Indices and Performance
The NGX All-Share Index (ASI) climbed by 810.34 points, or 0.79%, to close at 103,598.54. This marked a 1-week gain of 1.22%, a 4-week rise of 1.38%, and a year-to-date growth of 0.65%. Other key indices recorded the following gains:
- NGX Top 30 Index: +0.81% daily; +1.58% weekly; +0.9% YTD.
- NGX Banking Index: +1.97% daily; +4.09% weekly; +7.04% YTD.
- NGX Pension Index: +1.08% daily; +2.33% weekly; +4.06% YTD.
- NGX Premium Index: +0.98% daily; +2.56% weekly; -0.17% YTD.
- NGX Consumer Goods Index: +0.7% daily; -1.2% weekly; +0.44% YTD.
- NGX Main Board Index: +0.69% daily; +0.54% weekly; +1.06% YTD.
Gainers and Losers
Out of the 125 equities traded, 34 advanced, 23 declined, while the rest remained unchanged.
Top Gainers:
- Guinness Nigeria: Emerged as the best performer with a 10% price increase, closing at NGN 77.00 per share.
- Chellarams Plc: Also rose by 10%.
- SCOA Nigeria: Gained 10%.
- Transcorp Power: Increased by 7.96%.
Top Losers:
- Neimeth International Pharmaceuticals: Suffered the steepest decline, dropping 9.88% to close at NGN 3.10.
- John Holt Plc: Fell by 9.78%.
- International Energy Insurance: Declined by 9.74%.
- Sovereign Trust Insurance: Dropped by 9.4%.
Activity Summary
Secure Electronic Technology Plc led market activity with 202 million shares traded. Other significant contributors included:
- Nigerian Breweries: 42.1 million shares.
- Japaul Gold and Ventures: 34.6 million shares.
- Access Holdings: 32.1 million shares.
Outlook
The market’s robust trading volume and sectoral index gains reflect sustained investor interest, particularly in banking and pension stocks. However, the sharp decline in turnover indicates a concentration on lower-priced equities. As the new week approaches, traders will be monitoring economic trends and corporate earnings to gauge market direction.
