Stock Market Faces Heavy Sell-Off, Loses N1.45 Trillion in One Week
- Posted on January 20, 2025
- Stock Market
- By Samiat
The Nigerian stock market took a significant hit last week, shedding N1.45 trillion in market capitalization as investor sentiment weakened. The All-Share Index (ASI) declined by 2.94%, closing at 102,353.68 points, while the overall market capitalization dropped by 2.26% to N62.85 trillion.
Key Market Highlights
• A total of 2.252 billion shares worth N58.83 billion were traded in 63,657 deals, marking a drop from the 4.698 billion shares valued at N85.04 billion traded the previous week.
• The Financial Services Industry dominated trading activity, accounting for 1.371 billion shares valued at N22.27 billion—representing 60.86% of total volume and 37.86% of total value.
• The Consumer Goods Industry followed with 253.54 million shares worth N15.24 billion, while the Services Industry recorded 193.42 million shares worth N931.8 million.
Most Traded Stocks
The most actively traded stocks for the week were:
✅ Universal Insurance Plc
✅ Guaranty Trust Holding Company Plc (GTCO)
✅ AIICO Insurance Plc
These three stocks accounted for 468.32 million shares valued at N9.01 billion, contributing 20.79% of total trade volume and 15.31% of the total value.
Gainers and Losers
Despite the overall market decline, some stocks recorded notable gains:
Neimeth International Pharmaceuticals Plc led the gainers, surging 31.42% to close at N3.43.
S.C.O.A Nigeria Plc followed with a 20.39% increase, closing at N2.48.
Nigerian Flour Mills Plc gained 19.54%, closing at N54.45.
On the flip side, several stocks experienced sharp losses:
Universal Insurance Plc led the decliners with a 19.23% drop, closing at N0.63.
Royal Exchange Plc lost 18.35%, closing at N0.89.
Dangote Cement Plc recorded a 16.46% decline, dropping to N400.00 from an opening price of N478.80.
Global Market Influence
Beyond the local market, global investor sentiment was shaped by:
China’s better-than-expected GDP growth in Q4 2024
A slowdown in U.S. core inflation, raising optimism for potential Federal Reserve rate cuts
The MSCI World Equity Index gaining 2.0% for the week
Market Outlook
With the market facing increased sell-offs, investors are keenly watching macroeconomic indicators, corporate earnings reports, and potential monetary policy adjustments that could shape market direction in the coming weeks.
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