NGX: Investors Gain ₦483bn as Equities Market Hits ₦63.3tr Capitalization
By Okafor Joseph Afam
January 21, 2025
The Nigerian equities market extended its bullish momentum as investors recorded a ₦483 billion gain at the close of trading on Wednesday. This impressive performance was driven by significant price surges in stocks like SCOA, OMATEK, and UNIVERSAL INSURANCE, among others.
After five hours of active trading, the market capitalization rose to ₦63.3 trillion, compared to ₦62.8 trillion recorded on Monday. The benchmark All-Share Index (ASI) also advanced, closing at 103,157.20 points, up from the previous day’s 102,370.62 points.
Market Breadth and Performance
The market breadth remained positive, with 25 stocks recording gains against 24 decliners, while 63 stocks were unchanged in 12,672 deals.
Top Gainers
SCOA, OMATEK, and UNIVERSAL INSURANCE led the gainers’ chart, recording price increases of 9.93%, 9.88%, and 8.70%, respectively. SCOA closed at ₦2.99 from its previous ₦2.72 per share, OMATEK at ₦0.89 from ₦0.81, and UNIVERSAL INSURANCE at ₦0.75 from ₦0.69.
Top Losers
On the flip side, NSL TECH, ABBEYBDS, and SUNU ASSURANCE led the decliners’ table, shedding 9.88%, 9.09%, and 8.21%, respectively. NSL TECH closed at ₦0.73 from ₦0.81, ABBEYBDS at ₦3.30 from ₦3.63, and SUNU ASSURANCE at ₦6.15 from ₦6.70 per share.
Trading Volume and Value Index
In terms of trading volume, LASACO dominated with 108 million shares exchanged in 54 deals, followed by UNIVERSAL INSURANCE with 22 million shares in 172 deals and AIICO with 21 million shares in 250 deals.
On the value index, OANDO led with stocks worth ₦496 million traded in 678 deals. ARADEL followed, trading equities valued at ₦468 million in 421 deals, while LASACO recorded ₦338 million in 54 deals.
The sustained bullish run reflects growing investor confidence in the Nigerian capital market, with increased trading activity in key sectors driving the positive sentiment. Analysts project that the market could maintain this upward trajectory if macroeconomic conditions remain favorable.
