Nigerian Exchange Opens 2025 Bullish With 0.25% Surge

This surge was influenced by buying pressure in the insurance, banking and consumer goods sectors, which closed higher during the session by 9.50 per cent, 0.27 per cent and 0.16 per cent, respectively.

Nigerian stocks were bullish yesterday despite a pocket of profit-taking in the energy and industrial goods counters, which lost 0.03 per cent and 0.02 per cent, respectively.

At the close of business, the All-Share Index (ASI) was up by 253.74 points to 103,180.14 points from 102,926.40 points and the market capitalisation grew by N155 billion to N62.918 trillion from N62.763 trillion of the preceding trading session, which was on Tuesday.

At the resumption of trading activities on Thursday after a public holiday on Wednesday, Customs Street recorded 58 price gainers and eight price losers, indicating a positive market breadth index and strong investor sentiment.

NCR Nigeria, Cornerstone Insurance, RT Briscoe, Cutix, and International Energy Insurance gained 10.00 per cent each to sell for N5.50, N3.96, N2.75, N2.53, and N1.87, respectively.

On the flip side, Ellah Lakes lost 4.75 per cent to trade at N3.01, NASCON shed 4.31 per cent to finish at N30.00, CWG declined by 3.25 per cent to N7.45, Fidelity Bank slumped by 2.86 per cent to N17.00, and International Breweries crumbled by 0.90 per cent to N5.50.

Yesterday, investors bought and sold 829.8 million stocks valued at N5.7 billion in 11,752 deals versus the 437.8 million stocks worth N40.3 billion traded in 8,830 deals on Tuesday, representing a decline in the trading value by 85.86 per cent, a rise in the trading volume and number of deals by 89.54 per cent and 33.09 per cent, respectively.

Royal Exchange topped the activity chart with the sale of 291.0 million equities for N318.6 million, Chams transacted 63.7 million shares worth N130.1 million, AIICO Insurance traded 58.6 million stocks valued at N90.8 million, Veritas Kapital exchanged 43.4 million shares valued at N63.1 million, and Prestige Assurance sold 28.0 million equities worth N37.0 million.