The Nigerian stock market, tracked by the All-Share Index, concluded the trading session on February 7, 2025, on a positive note, gaining 502.88 points to close at 105,933.03.
This represents a 0.48% increase from the previous close of 105,430.15, as the index approaches the significant 106,000 barrier, indicating a new high.
Despite this price surge, trading volume saw a decline of 28.9%, decreasing from 537 million shares traded the prior day to 381 million.
However, market capitalization remained robust, firmly above the N65 trillion mark, closing at N65.9 trillion across 12,793 transactions.
In terms of individual stock performance, ACADEMY and CADBURY each recorded impressive gains of 9.93%.
Conversely, MULTIVERSE and MECURE experienced declines of 9.95% and 9.71%, respectively. Additionally, ZENITHBANK and CUTIX emerged as leaders in trading activity, significantly influencing the day’s turnover.
The trading volume experienced a decline of 28.9%, falling to 381 million shares from 537 million shares reported the previous day.
The Index is currently riding a strong buy momentum as it eyes the 106,000 psychological barrier.
If All-Share is not viewed as overbought, positive sentiment from the outpouring of late January and early February earnings reports may continue to push the index up.