Market Wrap: All-Share Index gains 0.09%, NNFM and DANGSUGAR soar 

The Nigerian stock market experienced a slight recovery on January 16, 2025, with the All-Share Index rising by 87.11 points to close at 102,183.06.

This marked a slight increase of 0.09% from the previous day’s close of 102,095.95, breaking a four-day streak of losses.

Trading volume increased by 8%, reaching 472 million shares compared to 428 million the day before.

Market capitalization edged up to N62.3 trillion, a small increase from N62.2 trillion, maintaining its position above the N62 trillion mark.

On the gainers’ side, NNFM and DANGSUGAR saw increases of 10.00% and 9.91%, respectively. However, LIVESTOCK and EUNISELL led the decliners with losses of 10.00% and 9.97%.

Market activity was moderate, with GTCO and UNIVINSURE being the most actively traded stocks, contributing notably to the overall turnover.

Market summary     

• Current ASI: 102,183.06 points
• Previous ASI: 102,095.95 points
• Day Change: +0.09%
• Year-to-Date Performance: -0.72%
• Volume Traded: 472 million shares
• Market Cap: N62.3 trillion

Top 5 gainers     

• NNFM: up 10.00% to N54.45
• DANGSUGAR: up 9.91% to N40.50
• TIP: up 9.80% to N2.80
• JOHNHOLT: up 9.80%to N9.30
• OMATEK: up 9.76% to N0.90

Top 5 losers     

• LIVESTOCK: down 10.00% to N5.40
• EUNISELL: down 9.97% to N15.62
• NEIMETH: down 9.83% to N3.12
• REGALINS: down 9.33% to N0.68
• HONYFLOUR: down 9.26% to N0.68

Trading volume   

The market enjoyed a slight boost in trading activity, with volume climbing by 8% to reach 472 million shares. Highlights from the session include:

• GTCO took the lead, trading an impressive 65 million shares.
• UNIVINSURE closely followed with 48.5 million shares exchanged.
• FIDELITYBK secured the third spot, recording 45.9 million shares.
• ACCESSCORP and NASCON contributed 27.3 million and 26.6 million shares, respectively.

Trading value   

In terms of trading value, the day was dominated by:

• GTCO, which reported transactions worth N3.7 billion.
• DANGCEM followed with trades totaling N2.4 billion.
• BUAFOODS and ARADEL contributed N2.3 billion and N1.7 billion, respectively.
• NASCON rounded out the day with an addition of N1.1 billion to the total value.

SWOOT and FUGAZ performance   

SWOOT category   

• DANGCEM enjoyed a gain of 3.12%.
• Meanwhile, ARADEL and OANDO saw declines of 7.01% and 0.23%, respectively.

FUGAZ stocks   

The FUGAZ group, comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK, delivered a mixed bag:

• FBNH and GTCO posted gains of 0.17% and 1.13%.
• UBA slipped by 0.15%.
• ACCESSCORP and ZENITHBANK remained steady, unchanged at 0.00%.

Market outlook   

• Following six weeks of consistent gains, the All-Share Index appears to be taking a slight breather.
• After a four-day downturn, the index is showing signs of a modest rebound.
• The long-term outlook remains optimistic, supported by robust fundamentals and the upcoming Q4 2024 earnings reports anticipated in late January and early February.