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Market Wrap: All-Share gains 590.99 points as ARADEL and CHELLARAM top gainers 

The All-Share Index closed the trading day on January 29, 2025, with a positive performance, rising by 590.99 points to reach 104,549.74.

This marks a 0.57% increase from the previous close of 103,958.75, as it eyes the 105,000-barrier.

Despite this bullish momentum, market activity saw a 22% decline in volume, dropping from 542 million shares to 417 million shares.

The market capitalization grew above N64 trillion, ultimately closing at N64.5 trillion amid 16,256 deals.

In terms of standout stocks, ARADEL and CHELLARAM posted impressive gains of 10.00% and 9.98%, while MCNICHOLS and CAVERTON faced declines of 10.00% each.

UNIVINSURE and FIDELITYBK led the trading activity, significantly influencing the day’s turnover.

Market summary 

  • Current ASI: 104,549.74 points
  • Previous ASI: 103,958.75 points
  • Day Change: +0.57%
  • Year-to-Date Performance: +1.58%
  • Volume Traded: 417 million shares
  • Market Cap: N64.5 trillion

Top 5 Gainers 

  • ARADEL: up 10.00% to N594.00
  • CHELLARAM: up 9.98% to N5.40
  • STANBIC: up 9.92% to N71.45
  • UPL: up 9.64% to N5.12
  • DAARCOMM: up 9.09% to N0.84

Top 5 Losers 

  • MCNICHOLS: down 10.00% to N1.44
  • CAVERTON: down 10.00% to N2.07
  • THOMASWY: down 9.80% to N1.84
  • VERITASKAP: down 9.79% to N1.29
  • CONHALLPLC: down 9.00% to N2.73

Trading volume 

The trading volume experienced a 22% decline, indicating a modest slowdown in market activity. However, several stocks distinguished themselves amidst this backdrop. Key highlights include:

  • UNIVINSURE led the charge with an impressive 33.6 million shares traded.
  • FIDELITYBK closely followed with 31.9 million shares.
  • FCMB secured the next position with 21.9 million shares.
  • JAPAULGOLD and VERITASKAP contributed significantly with 20.2 million and 17 million shares, respectively.

Trading value 

In terms of trading value, the session was commanded by:

  • ARADEL, achieving transactions worth N6.2 billion.
  • BUAFOODS, contributing a notable N1.5 billion.
  • OANDO and GTCO added N660.3 million and N643.7 million, respectively.
  • FIDELITYBK rounded off the day with N621.7 million in trades.

SWOOT and FUGAZ performance 

In the SWOOT category, ARADEL soared with a 10.00% gain, while OANDO and WAPCO experienced modest increases of 0.74% and 0.14%, respectively.

In contrast, the FUGAZ group exhibited mixed results:

  • UBA and ZENITHBANK rose by 0.80% and 0.20%, respectively.
  • ACCESSCORP and GTCO faced declines of 1.11% and 0.08%, respectively, with FBNH showing no price movement.

Market outlook 

  • All-Share is riding bullish momentum as it corrects back to the 105,000-barrier despite the decline in trading volume.
  • The market appears poised for positive developments, as an influx of financial results in late January and early February might propel the index past the 105,000 mark once again.

Enews Nigeria

About the author

Collins Nnebedum

Collins Nnebedum is a seasoned writer with a knack for delivering insightful analysis on current affairs and breaking news. His dedication to factual reporting makes him a trusted voice on eNews Nigeria.