Emmanuel OchayiThe Nigerian stock market demonstrated remarkable resilience on January 6, 2025, as the All-Share Index (ASI) gained 61.91 points, closing at 103,648.24 points.
This represented a 0.06% increase from the previous day’s close of 103,586.33. Despite the modest gain, the market showed a positive shift, signalling investor confidence.
Join our WhatsApp ChannelTrading Volume and Market Capitalisation Increase
One of the standout features of today’s session was the rise in trading volume. The volume surged by 20.67%, with 855 million shares exchanged compared to the previous day’s 709 million. This sharp increase reflected the heightened activity within the market, highlighting a growing interest among investors.
In addition to the rise in trading volume, the market capitalisation also saw a positive shift, rising by N63.1 trillion to N63.2 trillion. This reflected the strength of the market, supported by 16,505 transactions throughout the trading day.
Key Gainers in the Stock Market
WEMA BANK was one of the standout performers, seeing a significant rise of 10.00% to N11.00. Alongside WEMA BANK, DAARCOMM also posted an impressive gain of 10.00%, closing at N0.77. Other notable gainers included HONYFLOUR, which saw an increase of 9.99% to N8.37, and WAPIC, which rose by 9.86% to N2.98. LASACO also gained 9.95%, ending the day at N4.09.
These gains marked a day of optimism for these stocks, reflecting positive investor sentiment in the market.
READ ALSO: Stock Market: Conoil, International Breweries, Oando, Transcorp Power Join NGX 30 League
Decliners in the Stock Market
On the flip side, there were some notable decliners. CUTIX led the losses, falling by 5.45% to N2.60. CAVERTON also saw a decline of 5.36%, closing at N2.65. Other stocks that faced a downturn included JAIZBANK, which dropped 5.23% to N3.08, and CHAMPION, which decreased by 4.53% to N4.00. IKEJAHOTEL also experienced a fall of 4.26%, closing at N12.35.
These declines were in contrast to the overall positive movement in the market, indicating some mixed sentiments among investors.
Stock Trading Highlights
In terms of trading activity, CHAMS and VERITASKAP were the most actively traded stocks of the day, with CHAMS leading the pack at 80.7 million shares. VERITASKAP followed with 60.4 million shares, while ACCESSCORP came in third, with 54.3 million shares traded. GTCO and PRESTIGE rounded out the top five, with 53.9 million and 48.9 million shares, respectively.
Strong Interest in GTCO and ACCESSCORP
GTCO led the pack in terms of trading value, with N3 billion in transactions. ACCESSCORP followed closely with N1.3 billion, while BUAFOODS and FBNH contributed N1.3 billion and N1.1 billion, respectively. These figures reflected strong interest in these stocks, with investors showing confidence in their performance.
Stock Market Outlook for 2025
Looking ahead, the Nigerian stock market appears to be in a promising position as the All-Share Index crosses the 103,500 mark. The market is now eyeing the psychological barrier of 104,000, a level last reached in March 2024. As the year progresses, positive corporate results for Q4 2024 are expected to further drive the market higher.
With the rise in trading volume, increased market capitalization, and the performance of key gainers such as WEMA BANK and HONYFLOUR, the outlook for the Nigerian stock market in early 2025 looks optimistic. Investors are hopeful that the market will continue to gain momentum, with opportunities for growth in the months to come.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
