The Nigerian Stock Exchange (NGX) experienced a significant rally on February 5, 2025, as the equity market gained NGN 332 billion, driven by increased investor activity and trading volumes. On this day, a total of 1,057,239,989 shares were traded across 15,080 transactions, with a market turnover of NGN 28.81 billion. This represented a 124% increase in trading volume and a 45% improvement in turnover compared to the previous trading day. The NGX’s total market capitalization rose to NGN 65.2 trillion.
The NGX’s benchmark All-Share Index (ASI) saw a positive change of 536.54 points, or a 0.51% increase, closing at 105,324.89 points. This reflects a weekly increase of 0.74%, a four-week growth of 1.05%, and a 2.33% rise year-to-date. The positive performance of the market was supported by the strength of various stocks across different sectors.
Among the active stocks, 126 NGX-listed companies showed activity, with 37 stocks registering gains and 21 experiencing losses. Guinea Insurance emerged as the top gainer, with a 10% increase in its share price, closing at NGN 0.88 per share. Other notable winners included Eterna, Cadbury Nigeria, and International Energy Insurance, each seeing strong price surges. On the flip side, May & Baker Nigeria experienced a significant decline of 9.88%, followed by Academy Press and Thomas Wyatt Nigeria, both of which fell over 9%.
In terms of trading volume, Access Holdings led with the highest traded volume of 473 million shares, followed by FBN Holdings with 99.1 million shares, UAC of Nigeria at 46.4 million, and Zenith Bank with 44.7 million shares. The positive performance was not confined to the All-Share Index but extended to other key indices, including the Top 30, Banking, Pension, Premium, Oil & Gas, and Main Board indices, all of which saw upward movements.
This rally marked the continuation of a bullish trend on the NGX, following a similar gain of NGN 99 billion on the previous day, further emphasizing the strength of investor sentiment in the market. This consistent positive momentum reflects growing investor confidence in Nigeria’s equity market despite broader economic challenges.
Source: Punch