The Nigerian inventory market concluded the buying and selling week ending January 3, 2025, on a constructive notice, with the All-Share Index (ASI) rising by 1,453.03 factors to shut at 103,586.33.
This notable rise displays a 1.42% ascent from the earlier week’s closing determine of 102,133.30, efficiently surpassing the numerous threshold of 103,000, as insurance coverage shares rallied.
Throughout this era of bullish momentum, market exercise skilled a surge, with buying and selling quantity spiking by 94.7%, leading to a weekly complete of two.6 billion shares exchanged, a marked improve from the 1.3 billion shares recorded within the prior week.
Moreover, the market breadth demonstrated appreciable energy, with eighty-two (82) equities witnessing worth appreciation, exceeding the sixty-four (64) equities that skilled comparable positive aspects within the previous week.
Conversely, the variety of equities that confronted depreciation decreased to eighteen (18), down from twenty (20) the earlier week, underscoring a extra favorable market surroundings.
The Nigerian inventory market exhibited a predominantly bullish development all through the week, with market capitalization surpassing the N63 trillion threshold to shut at N63.1 trillion.
The All-Share Index (ASI) commenced the week on a strong notice, capturing most of its positive aspects on Monday earlier than experiencing a slight dip on Tuesday. Following a public vacation on Wednesday, the index rebounded, closing in constructive territory on each Thursday and Friday.
Main the pack of gainers, PRESTIGE ASSURANCE PLC surged by 46.00%, adopted by NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, which rose by 45.26%. Different notable gainers included:
On the shedding aspect, PZ CUSSONS NIGERIA PLC led the decline, falling by 13.79%, adopted by CWG PLC and UNION DICON SALT PLC, which fell by 10.83% and 10.00%, respectively. Different vital decliners included:
