January 6, 2025/CSL Research

Equities Market Preview & Review

The domestic bourse closed the week that ushered in the new year in the green, as the All-Share Index (ASI) increased by 142bps week-on-week (w/w) to close at 103,586.30 points. The week commenced on a robust note, capturing most of its gains on the first trading day of the week with moderate advancements on the last two trading days of the week. The Year-to-Date (YTD) return of the ASI currently stands at a 0.64%.

Price declines in stocks such as PZ (-13.79% w/w), CWG (-10.83% w/w), and UNIONDICON (-10.00% w/w) were unable to outweigh the gains recorded in stocks like PRESTIGE (+46.00% w/w), UNIVINSURE (+43.64% w/w),and SOVRENIN (+45.16% w/w). The equities market breadth remained strong at 4.6x (compared to 3.2x in the prior week), with 82 stocks recording price gains while 18 stock declined. The performance reflected investor optimism as year began, underscoring resilience in key market sectors.

Across the NGX sector indices, the Insurance (NGXINS: +29.83% w/w), Consumer Goods (NGXCNSMRGDS: +2.31% (w/w), and Industrial Goods (NGXINDUSTR: +0.50% w/w) indices advanced in the week while the Banking (NGXBNK: -0.59% w/w) and Oil & Gas (NGXOILGAS: -0.66% w/w) indices closed in the negative territory. ROYALEX emerged as the most traded stock by volume for the week, while ARADEL retained its position from the previous week as the top traded by value.

In corporate developments, Nigerian Breweries Plc announced the listing of 20,706,894,542 new ordinary shares as part of its Rights Issue. Also, Presco Plc announced its board’s approval to access medium to longterm debt funding from the domestic capital market of up to ₦100 billion series 1 bonds under its ₦150 billion bond programme. The bond issue is to close on Friday, 10 January 2025.

Trading activities in the coming week are expected to reflect heightened investor focus on anticipated corporate earnings disclosures and other market developments. Institutional investors and fund managers are likely to continue strategic portfolio rebalancing as they position for the new year

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Kindly click on the below link to download the full report.

​​​​​​​​​​​​​​​​​​​​​​​CSL Nigeria Weekly – 06 January 2025.pdf​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​