The Nigerian equities market continued its positive trajectory on January 3, 2025, with the All-Share Index (ASI) increasing by 406.19 points to close at 103,586.33. This represents a 0.39% gain from the previous day's close of 103,180.14, indicating a strong start to the year.

Trading volume, however, decreased by 14%, falling from 829 million shares on January 2nd to 709 million shares.

On a positive note, the market capitalization surpassed the N63 trillion threshold, finishing at N63.1 trillion, which bolstered investor confidence.

Among the day's top performers, CHAMS and OMATEK both recorded a significant increase of 10.00%. 

Conversely, not all stocks benefited from the market's positive sentiment; TOTAL was the leading decliner, falling by 9.74%, followed by CWG, which decreased by 6.04%.

The trading floor was notably active, with CHAMS and VERITASKAP being the most traded stocks, significantly impacting the day's turnover.

Market Summary  

  • Current ASI: 103,586.33 points  
  • Previous ASI: 103,180.14 points  
  • Day Change: +0.39%  
  • Year-to-Date Performance: +0.64%  
  • Volume Traded: 709.2 million shares  
  • Market Cap: N63.1 trillion  
Top 5 Gainers  
  • CHAMS: up 10.00% to N2.31  
  • OMATEK: up 10.00% to N0.88  
  • LEARNAFRCA: up 10.00% to N4.95  
  • REGALINS: up 10.00% to N0.88  
  • NCR: up 10.00% to N6.05  
Top 5 Losers  
  • TOTAL: down 9.74% to N630.00  
  • CWG: down 6.04% to N7.00  
  • THOMASWY: down 5.26% to N1.80  
  • ABCTRANS: down 4.07% to N1.18  
  • UACN: down 3.19% to N31.90  

Trading volume  

Despite the overall positive market performance, trading volume saw a 14% decrease, with 709 million shares traded compared to the previous session.

CHAMS led the trading activity with a remarkable 58 million shares exchanged, closely followed by VERITASKAP at 55.1 million shares. 

ABBEYBDS secured the third position with 50.1 million shares traded, while AIICO added 39.6 million shares to the mix.

NPFMCRFBK completed the top five with a total of 34.2 million shares.

In terms of trading value, heavyweight stocks attracted significant institutional interest. FBNH topped the list with transactions amounting to N492 million, reflecting robust investor confidence. ACCESSCORP was next with trades valued at N475.6 million, while OANDO and TOTAL contributed N472.5 million and N448.6 million, respectively. ZENITHBANK rounded out the top five with N393.4 million in transactions.

Regarding the SWOOT and FUGAZ performance, WAPCO was the only gainer among the SWOOTs, achieving a 2.51% increase. Within the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK, UBA, ACCESSCORP, and ZENITHBANK saw gains of 2.05%, 1.66%, and 1.42%, respectively. GTCO remained unchanged, while FBNH experienced a decline of 0.89%.

Looking ahead, the Nigerian All-Share Index has surpassed the 103,000 mark, indicating a strong start to the year. With the psychological barrier of 104,000, last reached in March 2024, now within reach, the market's direction will likely depend on investment activities in January. Anticipated positive corporate results for Q4 2024 could provide the necessary momentum to drive the index even higher.