The Nigerian stock market wrapped up the week on a positive note, with the All-Share Index (ASI) gaining 0.79% on Friday, January 24, 2025. This increase brought the ASI to 103,598.54 points, marking another milestone in the market’s upward trend. The strong close reflects growing confidence among investors and a brightening economic outlook.
A key driver of this optimism was Transpower’s announcement of its year-end financial results, which included a dividend of ₦3.50 per share. This news boosted investor sentiment, as it signaled attractive returns. Additionally, several stocks across various sectors performed well, helping maintain the bullish trend in the market.
Highlights from Friday’s Trading
The market showed broad-based gains, with 26 stocks recording price increases. Leading the pack were:
- SCOA (+₦3.96)
- Chellaram (+₦4.07)
- Guinness (closing at ₦77.00)
- Transpower (+₦349.80)
Other notable gainers included Lasaco (+₦3.28) and NGXGROUP (+₦28.55).
On the downside, 15 stocks experienced price drops, including:
- Neimeth (₦3.10)
- Johnholt (₦8.30)
- Prestige (₦1.29)
What’s Next?
As the market looks ahead, investors are focusing on upcoming corporate earnings reports for Q4 2024, which are expected to shape sentiment in the coming weeks. While some volatility and profit-taking may occur, the overall outlook remains positive, supported by strong performances and investor confidence.
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