January 27, 2025/CSL Research

Equities Market Preview & Review

The Nigerian equities market closed the week on a positive trajectory, with the All-Share Index (ASI) gaining 122 basis points (bps) week-on-week (w/w) to settle at 103,598.50 points. The market experienced mixed trends throughout the week with three days of gains out of the five trading days. This improved the Year-to-Date (ytd) return of the ASI to 0.65%.

Investor sentiment was notably buoyed by some tier-one banking stocks like ACCESSCORP (+4.50% w/w), ZENITHBANK (+4.50% w/w), and UBA (+4.50% w/w), which contributed significantly to the positive performance. These gains helped offset losses in stocks like SUNUASSUR (-25.11% w/w), EUNISELL (-18.98% w/w), and JOHNHOLT (-18.47 w/w). Market breadth was at 1.00x, with 44 stocks recording gains and 44 stocks posting declines. This was a notable improvement from the previous week, which saw 33 gainers versus 57 decliners (0.57x). In terms of trading activity, NSLTECH led by volume, while SEPLAT dominated by value.

Sector-wise, performance was mixed. The Insurance (NGXINS: -1.20% w/w), Consumer Goods (NGXCNSMRGDS: -1.20% w/w), and Oil & Gas (NGXOILGAS: -0.93% w/w) indices all closed in the red. On the other hand, the Banking (NGXBNK: +4.09% w/w) and Industrial Goods indices (NGXINDUSTR: +0.12% w/w) closed the week positive.

In corporate developments, OANDO Plc. reported its successful bid for Block KON 13 in Angola, expanding its African upstream portfolio. TRANSCORP POWER PLC published its audited financial statements for the year ended December 31, 2024, while GUINNESS NIG PLC released its financial results for Q2 2025.

The All-Share Index saw a rebound last week, recovering most of the losses from the previous week as it edged closer to the 103,000 points level. Market sentiment remains positive, with expectations that the release of financial results in late January and early February could drive the index beyond the 105,000 points mark once again.

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

​CSL Nigeria Weekly – 27 January 2025.pdf​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​