WATCH THE VIDEO HERE The Nigerian stock market concluded the trading week ending January 3, 2025, on a notably positive note, with the All-Share Index (ASI) increasing by 1,453.03 points to close at 103,586.33. This notable rise reflects a 1.42% ascent from the previous week’s closing figure of 102,133.30, successfully surpassing the significant threshold of 103,000, as insurance stocks rallied. During this period of bullish momentum, market activity experienced a surge, with trading volume spiking by 94.7%, resulting in a weekly total of 2.6 billion shares exchanged, a marked increase from the 1.3 billion shares recorded in the prior week. Furthermore, the market breadth demonstrated considerable strength, with eighty-two (82) equities witnessing price appreciation, exceeding the sixty-four (64) equities that experienced similar gains in the preceding week. Conversely, the number of equities that faced depreciation decreased to eighteen (18), down from twenty (20) the previous week, underscoring a more favorable market environment. The Nigerian stock market exhibited a predominantly bullish trend throughout the week, with market capitalization surpassing the N63 trillion threshold to close at N63.1 trillion. The All-Share Index (ASI) commenced the week on a robust note, capturing most of its gains on Monday before experiencing a slight dip on Tuesday. Following a public holiday on Wednesday, the index rebounded, closing in positive territory on both Thursday and Friday. Leading the pack of gainers, PRESTIGE ASSURANCE PLC surged by 46.00%, followed by NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, which rose by 45.26%. Other notable gainers included: On the losing side, PZ CUSSONS NIGERIA PLC led the decline, falling by 13.79%, followed by CWG PLC and UNION DICON SALT PLC, which fell by 10.83% and 10.00%, respectively. Other significant decliners included:
Weekly Market Wrap: All-Share hits N63 trillion, gains 1.42% as insurance stocks shine, PZ Cussons leads decliners
