Nigerian Stock Market Hits N67 Trillion as VFDGROUP and IKEJAHOTEL Lead Gains

The Nigerian stock market closed on a high note on February 12, 2025, with the All-Share Index (ASI) rising by 1,247.80 points to close at 107,822.52. This marks a 1.17% increase from the previous day’s figure, breaking the 107,000-point barrier and reaching a new record high. Despite the gains, trading volume dipped slightly by 3.27%, falling to 461.7 million shares traded. However, market capitalization maintained a strong performance, surpassing N67 trillion, finishing at N67.2 trillion.

VFDGROUP and IKEJAHOTEL were among the top performers, both achieving a notable 10% rise in share prices. Other top gainers included HONYFLOUR, TRANSCOHOT, and ETERNA, all experiencing gains close to 10%. On the other hand, some stocks, such as CWG and REGALINS, faced declines, with CWG falling by 8.95% and REGALINS down by 7.89%.

The day’s trading activity saw STERLINGNG and ELLAHLAKES leading in volume, contributing significantly to the day’s turnover. STERLINGNG recorded 49.6 million shares traded, while ELLAHLAKES followed closely with 34.5 million shares. Other noteworthy contributors included ZENITHBANK, ACCESSCORP, and AIICO, which added to the day’s trading activity.

In terms of trading value, ZENITHBANK was the top performer with transactions worth N1.3 billion, followed by GTCO with N932.2 million. ETERNA and UBA also contributed significantly, with N678.2 million and N571.2 million in trades, respectively.

The market outlook is positive, with the All-Share Index showing strong buying momentum. Analysts are optimistic that the index could surpass the 108,000-point mark if the positive sentiment, driven by recent earnings reports, continues. However, caution is advised to avoid potential overbuying as the market progresses.

SOURCE: nairametrics