Nigerian Stocks post solid gains as January ends in green 

This upward movement signifies a 1.52% increase from the month’s opening figure of 102,928.57 points, fueled by robust rallies in the banking and consumer goods sectors.

Notably, the month witnessed a strong trading volume of 12.6 billion shares, surpassing the 10.8 billion shares traded in December 2024.

Furthermore, market capitalization experienced significant growth, rising from N63 trillion at the start of the month to an impressive N64.7 trillion by month’s end.

The Nigerian stock market exhibited a bullish momentum characterized by a surge in mid-cap and select large-cap stocks.

The All-Share Index began the first week of January with optimism; however, it experienced a downturn during the second week ended January 12th, 2025. Fortunately, the subsequent weeks rebounded, closing above the opening price and culminating in a monthly increase to 104,496.12 points.

Leading the charge among gainers was SCOA Nigeria, which climbed by 97.57% month-to-date, followed by CHELLARAM at 76.49%. Other notable gainers included:

On the losers’ table was Sunu Assurances, which declined by 46.51% month-to-date, followed by EUNISELL INTERLINKED at 30.05%. Other losers included:

A variety of corporate actions took place in January:

The All-Share Index is currently riding a strong long-term bullish momentum, as it eyes the 105,000-threshold on the monthly time frame. This upward trajectory follows a successful recovery from a low of 96,580 recorded in August 2024.