Investors gain N364bn at stock market

The Nigerian stock market closed bullish on Wednesday, January 29, 2025, leading to N364 billion gain for investors.

The positive performance was driven by the release of full-year 2024 financial results from listed companies.

The stock market capitalisation, which opened at N64.156 trillion, added 364 billion or 0.57 per cent to close at N64.520 trillion.

The All-Share Index also gained 0.57 per cent or 591 points, to settle at 104,549.74, against 103,958.75 recorded on Tuesday.

As a result, the Year-To-Date (YTD) return rose to 1.58 per cent.

Despite the overall positive sentiment, market breadth closed negative, with 38 losers and 27 gainers.

On the losers’ side, McNichols and Caverton led by 10 per cent each to close at N1.44 and N2.07 per share, respectively.

Thomas Wyatt lost 9.80 per cent to close at N1.84, Veritas Kapital shed 9.79 per cent to close at N1.29, and Consolidated Hallmark Plc dropped nine per cent to close at N2.73 per share.

Naira trades N1,510/$ at official market

Conversely, Aradel led the gainers’ chart by 10 per cent to close at N594, while Chellarams Plc trailed by 9.98 per cent to close at N5.40 per share.

Stanbic IBTC gained 9.92 per cent to close at N71.45, UPL increased by 9.64 per cent to close at N5.12, and Daar Communications advanced by 9.09 per cent to close at 84k per share.

Trading activity remained robust, as the amount of total value of trade on the Exchange went up by 9.99 per cent.

Investors traded a total of 421.62 million shares in value of N15 billion across 16,256 deals, compared with 542.23 million shares valued at N13.636 billion exchanged in 15,561 deals posted previously.

Meanwhile, Universal Insurance led the activity chart in volume of 33.6 million shares, while Aradel Holdings led in value of N6.3 billion.

The Star