Weekly Market Wrap: Nigerian inventory market dips 2.94% as Industrial Items and Insurance coverage sectors falter
The Nigerian inventory market, tracked by the All-Share Index, concluded the buying and selling week ending January 17, 2025, with a notable downturn, amid losses within the industrial items and insurance coverage sectors.
All-Share shed 3,097.38 factors, closing at 102,353.68, marking a 2.94% decline from the earlier week’s shut of 105,451.06, thereby interrupting a six-week streak of positive factors.
Market exercise additionally confirmed a major decline, as weekly buying and selling quantity fell by 38% to 2.2 billion shares, in comparison with 3.6 billion shares within the prior week.
Moreover, market capitalization retreated to N62.8 trillion, down from N64.3 trillion the earlier week.
When it comes to market breadth, thirty-three (33) equities recorded worth will increase, a lower from fifty-one (51) equities the prior week.
Conversely, fifty-seven (57) equities noticed worth declines, which is a rise from thirty-nine (39) within the earlier week.
Market efficiency
The Nigerian inventory market confronted a notable decline over the previous week, with market capitalization falling sharply from N64.3 trillion to N62.8 trillion.
The All-Share Index started the week on a downward pattern, with losses intensifying on Tuesday and Wednesday, culminating in a decline to the 102,000 zone.
Nonetheless, regardless of small positive factors on Thursday and Friday, the index finally ended the week decrease.
Key highlights of the week
- The NGX Premium Index plunged by 7.05%, primarily pushed down by a 16% drop in DANGCEM. Further declines of underneath 3% in MTN, FBNH, and ACCESSCORP compounded the losses.
- The NGX 30 Index fell by 3.11%, reflecting widespread detrimental sentiment, whereas the NGX Most important Board Index decreased by 0.75%.
Sectoral efficiency
- NGX Industrial Items Index took a success, crashing by 8.20%, with DANGCEM main the decline at 16%, adopted by BETAGLASS down 5%, and CUTIX at 1.9%.
- The NGX Insurance coverage Index fell by 6.23%, impacted by vital drops of over 15% in 4 insurance coverage stocks.
- NGX Oil and Gasoline Index and NGX Banking Index skilled declines of 0.75% and 0.46%, respectively.
- On a constructive be aware, the NGX Client Items Index rose by 1.33%, supported by a 16.7% improve in DANGSUGAR and a 7.6% achieve in GUINNESS.
Prime gainers
Main the pack of gainers, NEIMETH INTERNATIONAL PHARMACEUTICALS PLC surged by 31.42%, adopted by SCOA NIG. PLC., which rose by 20.39%. Different notable gainers included:
- N NIG. FLOUR MILLS PLC.: up 19.54% to N54.45
- LIVESTOCK FEEDS PLC.: up 17.62% to N5.94
- DANGOTE SUGAR REFINERY PLC: up 16.67% to N38.50
- NASCON ALLIED INDUSTRIES PLC: up 15.85% to N37.65
- CAP PLC: up 15.79% to N44.00
- OANDO PLC: up 14.88% to N71.80
- UNIVERSITY PRESS PLC.: up 13.48% to N5.05
- UACN PLC: up 12.50% to N36.00
Prime losers
On the dropping aspect, UNIVERSAL INSURANCE PLC. led the decline, falling by 19.23%, adopted by ROYAL EXCHANGE PLC. and REGENCY ASSURANCE PLC, which fell by 18.35% and 17.78%, respectively. Different vital decliners included:
- SOVEREIGN TRUST INSURANCE PLC: down 16.67% to N1.10
- DANGOTE CEMENT PLC: down 16.46% to N400.00
- DAAR COMMUNICATIONS PLC: down 15.91% to N0.74
- CORNERSTONE INSURANCE PLC: down 15.91% to N2.22
- LEARN AFRICA PLC: down 13.82% to N4.99
- ASSOCIATED BUS COMPANY PLC: down 13.01% to N1.07
- TANTALIZERS PLC: down 12.69% to N2.27
Company bulletins
A number of company bulletins made waves this week:
- Airtel Africa PLC notified a transaction in its personal shares.
- Custodian Funding PLC appointed a brand new Chief Working Officer.
- Eterna PLC introduced the resignation and appointment of a brand new Managing Director/CEO.
- Common Insurance coverage PLC appointed a brand new Managing Director/Chief Govt Officer.
- MTN Nigeria Communications PLC raised N42.20 billion by way of a industrial paper issuance.
- John Holt PLC launched its audited {financial} assertion for the interval ended September 30, 2024.
Market outlook
- After six weeks of consecutive positive factors, the index is presently experiencing a retracement, dropping from the 105,000 degree to round 102,000. Regardless of this pullback, the index stays on a long-term upward pattern.
- Constructive reactions are anticipated from the forthcoming This fall earnings experiences for big and mid-cap stocks, set to be launched in late January and early February. This might present the momentum wanted for the index to problem the 105,000-barrier as soon as once more.


