The Nigerian Exchange (NGX) kicked off the New Year with an impressive gain of N155 billion, driven by heightened investor interest in insurance stocks. The market started 2025 on a bullish note, with the key performance indicators reflecting a +0.25% uptick.
Stockbrokers attributed this positive performance to a New Year rally, particularly in mid-cap stocks across various sectors, with the Insurance sector leading the charge, posting an outstanding growth of +9.50%.
As a result, investors’ wealth expanded by approximately N155 billion, following a remarkable 37% return delivered by the NGX in 2024. Data from the exchange indicated that the All-Share Index (ASI) gained 253.74 basis points to close at a historic high of 103,180.14.
Trading Activity Overview
Trading activity on the first day of the year showed mixed results. The total trading volume surged by 89.54%, while the total value of transactions declined by 85.95%. According to Atlass Portfolios Limited, approximately 829.75 million shares worth N5.67 billion were traded in 11,752 deals.
In terms of volume, ROYALEX led the activity chart, accounting for 35.18% of the total traded shares. Other high-volume stocks included CHAMS (7.70%), AIICO (7.08%), VERITASKAP (5.24%), and PRESTIGE (3.38%).
ZENITHBANK emerged as the top stock by value, contributing 12.04% of the total traded value. Stocks like CUTIX, INTENEGINS, MANSARD, NCR, ROYALEX, RTBRISCOE, and CORNERST topped the gainers’ list, each appreciating by 10.00%. Additional gainers included AFRIPRUD (+9.98%), PRESTIGE (+9.92%), CAVERTON (+9.91%), GUINEAINS (+9.88%), and CONHALLPLC (+9.86%), among others.
Conversely, eight stocks depreciated. ELLAHLAKES led the decliners with a -4.75% drop, followed by NASCON (-4.31%), CWG (-3.25%), FIDELITYBK (-2.86%), INTBREW (-0.90%), and WAPCO (-0.29%).
Market Breadth and Sector Performance
The market breadth closed on a positive note with 57 gainers and 8 losers. Sectoral performance was also largely positive, led by the Insurance index, which surged by +9.50%, buoyed by continued demand for stocks like MANSARD (+10.00%), CORNERST (+10.00%), and WAPIC (+9.78%).
Other sectors recorded modest gains, including the Banking (+0.27%) and Consumer Goods (+0.16%) indexes, supported by buying interest in ZENITHBANK (+0.77%) and UNILEVER (+9.26%). However, the Industrial Goods (-0.02%) and Oil & Gas (-0.03%) indexes experienced minor declines, weighed down by losses in WAPCO (-0.29%) and OANDO (-0.30%).
Overall, the market capitalization of the NGX rose by N154.72 billion to close at N62.92 trillion.
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