The Nigerian Exchange (NGX) experienced a significant surge last week, with the All-Share Index climbing by 1.42% to close at 103,586.33 points, while the Market Capitalisation increased by 2.02%, reaching N63.166 trillion. This marked a positive start to the year, reflecting strong investor confidence in the Nigerian economy.
Over four trading days (due to the public holiday on January 1), a total of 2.618 billion shares worth N69.742 billion were traded in 47,953 deals. This was a substantial rise compared to the previous week, which saw 1.387 billion shares worth N52.023 billion across 33,411 deals.
The Financial Services Industry led the trading activity, accounting for 66.88% of the total volume and 24.49% of the total value. A total of 1.751 billion shares worth N17.079 billion were traded in 20,595 deals within this sector. The Services and ICT Industries followed with 205.807 million shares worth N1.829 billion and 189.938 million shares worth N1.844 billion, respectively.
Top equities included Royal Exchange Plc, Chams Holding Company Plc, and Universal Insurance Plc, which together contributed 23.38% of the total turnover volume, with 612.033 million shares valued at N773.439 million in 2,108 deals.
Market breadth showed improvement, with 82 equities appreciating compared to 64 the previous week. The number of decliners dropped from 20 to 18, and the number of unchanged equities decreased to 52 from 69.
PZ Cussons Nigeria Plc led the decliners, falling by 13.79% to close at N25.00, while CWG Plc and Union Dicon Salt Plc followed with losses of 10.83% and 10.00%, respectively. On the other hand, Prestige Assurance Plc led the gainers, appreciating by 46% to close at N1.46. Neimeth International Pharmaceuticals Plc and Sovereign Trust Insurance Plc also saw significant gains, rising by 45.26% and 45.16%, respectively.
In addition, the NGX listed the Federal Government’s December 2024 Savings Bonds, which offer a two-year bond with a 17.483% coupon and a three-year bond with an 18.483% coupon. These bonds, issued on December 11, 2024, will mature in December 2026 and 2027, with quarterly coupon payments. A total of N876.87 million and N2.44 billion were issued for the respective tranches.
The first week of 2025 saw the equity market gaining N155 billion, signaling robust investor confidence and a positive outlook for the Nigerian economy this year.
