Market Wrap: All-Share Index climbs to 103,586 points; CHAMS and OMATEK top gainers 

The Nigerian equities market continued its positive momentum on January 3, 2025, with the All-Share Index (ASI) advancing by 406.19 points to close at 103,586.33.

This marked a 0.39% increase from the previous day’s close of 103,180.14, as the market maintained its strong start to the year.

Despite the gains, trading volume took a dip, declining by 14% from 829 million shares traded on January 2 to 709 million shares.

On the brighter side, the market capitalization climbed past the N63 trillion mark, closing at an impressive N63.1 trillion, solidifying investor confidence.

Top gainers for the day included CHAMS, which soared by 10.00%, alongside OMATEK with an identical 10.00% increase.

However, not all stocks enjoyed the bullish sentiment. TOTAL led the decliners, dropping 9.74%, followed by CWG, which fell 6.04%.

Activity on the trading floor was dominated by CHAMS and VERITASKAP, which emerged as the most actively traded stocks, contributing significantly to the day’s turnover.

Market Summary  Current ASI: 103,586.33 pointsPrevious ASI: 103,180.14 pointsDay Change: +0.39%Year-to-Date Performance: +0.64%Volume Traded: 709.2 million sharesMarket Cap: N63.1 trillionTop 5 Gainers   CHAMS: up 10.00% to N2.31OMATEK: up 10.00% to N0.88LEARNAFRCA: up 10.00% to N4.95REGALINS: up 10.00% to N0.88NCR: up 10.00% to N6.05Top 5 Losers   TOTAL: down 9.74% to N630.00CWG: down 6.04% to N7.00THOMASWY: down 5.26% to N1.80ABCTRANS: down 4.07% to N1.18UACN: down 3.19% to N31.90Trading volume Despite the market’s overall positive trajectory, trading volume saw a 14% decline, with 709 million shares exchanged compared to the previous session.

Leading the activity was CHAMS, which traded an impressive 58 million shares, followed closely by VERITASKAP with 55.1 million shares.ABBEYBDS ranked third, trading 50.1 million shares, while AIICO contributed 39.6 million shares.NPFMCRFBK rounded out the top five, recording 34.2 million shares traded.Trading value Heavyweight stocks dominated by trading value, drawing substantial institutional interest.

FBNH led the pack with transactions worth N492 million, underscoring strong investor confidence.ACCESSCORP followed with trades valued at N475.6 million, while OANDO and TOTAL contributed N472.5 million and N448.6 million, respectively.ZENITHBANK completed the top five with N393.4 million in transactions.SWOOT and FUGAZ Performance Among the SWOOTs, WAPCO was the sole gainer, recording a 2.51% increase.

Within the FUGAZ group (FBNH, UBA, GTCO, ACCESSCORP, ZENITHBANK):

UBA, ACCESSCORP, and ZENITHBANK posted gains of 2.05%, 1.66%, and 1.42%, respectively.While GTCO recorded no price movement.FBNH declined by 0.89%.Outlook The Nigerian All-Share Index broke through the 103,000-mark, maintaining a strong start to the year.

With the psychological threshold of 104,000, last reached in March 2024, now within sight, the market’s trajectory is likely to hinge on January’s investment activity.

Anticipated positive Q4 2024 corporate results could provide the momentum needed to propel the index further.

Izuchukwu Okoye Okoye Izuchukwu is a financial market writer and trader with extensive expertise in both Nigerian and international markets. With a keen eye for market trends and a passion for insightful analysis, he translates complex financial concepts into engaging content. By combining practical trading experience with thorough research, Okoye offers valuable perspectives that empower readers to make informed decisions in the ever-evolving world of finance.