Equities market gains N1.25trn in four bullish trading days
BY TEMITOPE ADEBAYO
The Nigerian equities market began 2025 on a resounding positive note, recording an impressive N1.25 trillion gain in market capitalisation during its first four trading days.
Trading activity resumed on January 2 after the New Year public holiday, with the All-Share Index (ASI) climbing by 2.02 per cent week-on-week to close at 103,586.33 points. The market capitalisation also surged to N63.166 trillion, reflecting strong investor sentiment and heightened activity across key sectors.
Market analysts attributed the gains to renewed optimism and strategic positioning by investors, who are capitalising on stocks with robust fundamentals. This bullish start builds on the market’s remarkable performance in 2024, during which it recorded a 38 per cent annual gain.
Sectors such as insurance and consumer goods led the rally, with substantial buying interest driving significant price appreciations. Prestige Assurance emerged as the week’s top gainer, soaring by 46 per cent to close at N1.46 per share. Neimeth International Pharmaceuticals and Sovereign Trust Insurance followed closely, rising by 45.26 per cent and 45.16 per cent to close at N2.76 and N1.35 per share, respectively.
Conversely, PZ Cussons Nigeria led the decliners, falling by 13.79 per cent to close at N25 per share. CWG and Union Dicon Salt also recorded declines, losing 10.83 per cent and 10 per cent to close at N7.00 and N7.20 per share, respectively.
In total, the week saw a turnover of 2.618 billion shares valued at N69.742 billion traded in 47,953 deals, a significant increase compared to the previous week’s 1.387 billion shares worth N52.023 billion in 33,411 deals.
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According to Cowry Assets Management Limited, the strong start to the year underscores the Nigerian Exchange’s growing appeal as a hub for portfolio diversification. Analysts noted robust investor interest in sectors such as banking, industrial goods, and consumer goods, with mid-to-large-cap stocks leading the charge.
Looking ahead, analysts anticipate sustained bullish sentiment, although some profit-taking could moderate gains in the near term. Cowry Assets advised investors to prioritise stocks with strong fundamentals and promising upside potential as the market continues to offer attractive opportunities.
This upbeat start to 2025 highlights the resilience of the Nigerian equities market, setting a promising tone for the year ahead.
