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Market Wrap: Nigerian inventory market hits N64 trillion cap as MTNN and HONYFLOUR lead

The Nigerian inventory market, tracked by the All-Share Index, ended the buying and selling day on January 9, 2025, with a major acquire of 1,300.01 factors, closing at a document excessive of 105,530.74.

This sturdy efficiency not solely broke previous the 105,000-barrier but in addition marked a 1.25% enhance from the day prior to this’s 104,230.73, dismantling the resistance degree of 104,562 that had held since March 2024.

Nevertheless, regardless of the bullish value motion, buying and selling quantity fell sharply, declining by 23.4%.

The variety of shares exchanged dropped from 639 million the day earlier than to 489 million on this event.

Fueled by the rising costs, market capitalization climbed to N64.3 trillion over 13,010 transactions, a major uptick from the N63.5 trillion recorded within the prior buying and selling session.

Among the many day’s highlights, MTNN and HONYFLOUR delivered stellar performances with good points of 10.00% and 9.89%, respectively, reflecting a surge in investor enthusiasm.

Conversely, RTBRISCOE led the decliners with a notable drop of 10.00%, intently adopted by SUNUASSUR, which fell by 9.99%.

The buying and selling session was characterised by lowered market participation, with UNIVINSURE and AIICO standing out as probably the most actively traded shares, considerably bolstering the day’s turnover.

Market abstract    

  • Present ASI: 105,530.74 factors
  • Earlier ASI: 104,230.73 factors
  • Day Change: +1.25%
  • 12 months-to-Date Efficiency: +2.53%
  • Quantity Traded: 489 million shares
  • Market Cap: N64.3 trillion

Prime 5 gainers    

  • MTNN: up 10.00% to N242.00
  • HONYFLOUR: up 9.89% to N9.11
  • UNIVINSURE: up 9.86% to N0.78
  • TRANSCOHOT: up 9.78% to N127.35
  • IKEJAHOTEL: up 9.31% to N13.50

Prime 5 losers   

  • RTBRISCOE: down 10.00% to N2.34
  • SUNUASSUR: down 9.99% to N8.11
  • TIP: down 9.68% to N2.52
  • UPDC: down 9.50% to N1.81
  • GUINEAINS: down 8.08% to N0.91

Buying and selling quantity   

Market buying and selling quantity took a success, declining by 23.4% to a complete of 489 million shares exchanged. Regardless of this downturn, a number of key gamers shone brightly:

  • UNIVINSURE led the cost with a formidable 97.2 million shares traded.
  • AIICO intently adopted, recording 54.2 million shares.
  • SOVRENINS secured the third place with 24.9 million shares, whereas FBNH noticed 16.2 million shares change arms.
  • GUINEAINS rounded out the highest 5 with 14.6 million shares traded, indicating a comparatively lively day amidst the general decline.

Buying and selling worth   

When it comes to buying and selling worth, SEPLAT dominated the market, producing transactions totaling N4.5 billion, a transparent signal of sturdy investor confidence.

  • MTNN adopted with a wholesome N1.1 billion in trades.
  • PRESCO and TRANSCORP contributed N673.6 million and N643.5 million, respectively.
  • ARADEL added N638.8 million to the day’s complete, showcasing stable engagement throughout key counters.

SWOOT and FUGAZ efficiency   

Within the SWOOT class:   

  • MTNN surged impressively, gaining 10%.

As for the FUGAZ shares—comprising FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK—outcomes differed:   

  • ZENITHBANK, ACCESSCORP, and UBA all noticed good points of 4.49%, 0.82%, and 0.59%, respectively.
  • FBNH dipped by 1.27%, whereas GTCO remained regular, posting no motion for the session.

Market outlook   

The All-Share Index has surpassed the 105,000-point mark, buoyed by robust bullish sentiment regardless of the drop in market quantity.

With constructive momentum in mid- and large-cap shares, the index might quickly set its sights on difficult the 106,000-point barrier.


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