The All-Share Index concluded the trading session on January 31, 2025, on a negative note, declining by 248.31 points to finish at 104,496.12.
This reflects a 0.24% decrease from the previous close of 104,744.43, as the index slipped below the 104,500 threshold.
Notably, trading volume surged to 1.2 billion shares, marking a significant increase of 154% from the 497.3 million shares reported the previous day.
Market capitalization also saw a decline, decreasing from N64.8 trillion reported the prior day to N64.7 trillion, across 14,540 transactions.
In terms of individual stock performance, BETAGLAS and VITAFOAM recorded impressive gains of 10.00% and 9.98%, respectively.
Conversely, OANDO and STANBIC faced declines of 10.00% and 9.94%. Additionally, NSLTECH and JAPAULGOLD emerged as leaders in trading activity, significantly influencing the day’s turnover.
Market summary Current ASI: 104,496.12 pointsPrevious ASI: 104,744.43 pointsDay Change: -0.24%Year-to-Date Performance: +1.53%Volume Traded: 1.2 billion sharesMarket Cap: N64.7 trillionTop 5 gainers BETAGLAS: up 10.00% to N71.50VITAFOAM: up 9.98% to N31.95NNFM: up 9.98% to N60.60CHELLARAM: up 9.93% to N6.53TIP: up 9.90% to N3.44Top 5 losers OANDO: down 10.00% to N68.40STANBIC: down 9.94% to N64.35IKEJAHOTEL: down 9.84% to N11.00UPDC: down 9.66% to N1.87REGALINS: down 9.21% to N0.69Trading volumeThe trading volume witnessed a strong 154% increase, indicating a robust surge in market activity:
NSLTECH led the charge with an impressive 599.5 million shares traded.JAPAULGOLD closely followed, contributing 108.3 million shares.FBNH secured the third position with 85.4 million shares traded.VERITASKAP and GTCO made significant contributions as well, with 67.3 million and 32.7 million shares, respectively.Trading value In terms of trading value, the session was dominated by:
FBNH, achieving transactions worth N2.5 billion.OANDO, contributing a notable N2.2 billion.GTCO and ZENITHBANK added N2 billion and N1 billion, respectively.NESTLE rounded off the day with N847.3 million in trades.SWOOT and FUGAZ performance In the SWOOT category, OANDO declined by 10%, while WAPCO saw a modest gain of 0.21%.
The FUGAZ group exhibited mixed results
GTCO, ACCESSCORP, UBA, and ZENITHBANK experienced declines of 2.01%, 1.14%, 0.13%, and 0.10%, respectively.Conversely, FBNH ended the day in the green, gaining 2.92%.Market outlook Despite the daily decline, the index is riding a bullish momentum that may propel it back to the 105,000-barrier.The market seems poised for positive developments, as an influx of financial results in late January and early February could potentially drive the index past the 105,000 mark once again.
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.
