The Nigerian stock market demonstrated remarkable resilience on January 6, 2025, as the All-Share Index (ASI) rose by 61.91 points, closing at 103,648.24.
This increase reflects a modest gain of 0.06% from the previous day’s close of 103,586.33, driven by a significant uptick in trading volume.
Amid the increase, market volume experienced an ascent of 20.67%, climbing from 709 million shares to an impressive 855 million shares.
Additionally, market capitalization saw a positive shift, increasing by N63.1 trillion to reach a total of N63.2 trillion across 16,505 transactions.
Among the day’s standout performers, WEMABANK and DAARCOMM each posted a remarkable gain of 10.00%, signaling strong investor confidence.
On the flip side, CUTIX led the decliners with a drop of 5.45%, followed closely by CAVERTON, which fell by 5.36%.
The trading session was marked by heightened activity, with CHAMS and VERITASKAP emerging as the most actively traded stocks, significantly contributing to the day’s turnover.
In a notable shift, trading volume in the market rose by 20.67%, reaching 855 million shares exchanged.
Among the SWOOT stocks, WAPCO was the only gainer, edging up by 0.7%.
In the FUGAZ group—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK—the movement was mixed:
With the Nigerian All-Share Index crossing the 103,500 mark, the start of the year looks promising. The index is now eyeing the psychological barrier of 104,000, last reached in March 2024.
In January, anticipated positive corporate results for Q4 2024 could provide the momentum needed to drive the index higher.