The Nigerian stock market closed on a positive note on February 3, 2025, with the All-Share Index (ASI) increasing by 134.18 points to reach 104,630.30. This represents a 0.13% rise from the previous session’s close of 104,496.12. Despite the gain, trading volume saw a significant 56% drop, falling from 1.1 billion shares to 510.5 million. Market capitalisation remained above the N64 trillion mark, closing at N64.72 trillion across 14,611 deals.
Top gainers and losers
PRESCO and BETAGLAS led the market with gains of 10.00% each, closing at N643.50 and N78.65, respectively. Other notable gainers included OKOMUOIL, which rose 9.99% to N537.20, NNFM with a 9.98% increase to N66.65, and CHELLARAM, which gained 9.95% to close at N7.18.
On the losing side, UPL declined by 10.00% to N5.04, while OMATEK dropped 9.88% to N0.73. SCOA, LASACO, and NGXGROUP also recorded losses, falling by 9.83%, 8.33%, and 8.14%, respectively.
Read also: Nigerian stocks end January strong with N1.7 tn market capitalisation growth
Trading activity
FBNH led the market in trading volume, with 83.90 million shares exchanged. ZENITHBANK followed closely, recording 54.5 million shares, while UNIVINSURE traded 32.5 million shares. UBA and FIDELITYBK contributed to market activity with 31.5 million and 19.4 million shares traded, respectively.
In terms of trading value, ZENITHBANK led with transactions worth N2.7 billion, followed by FBNH at N2.4 billion. UBA and ARADEL recorded values of N1.1 billion and N771.3 million, respectively, while MTNN closed the session with N720 million in trades.
Read also: 5 key factors influencing the success of SMEs in Nigeria in 2025
SWOOT and FUGAZ performance
Among the Stocks Worth Over One Trillion (SWOOT) category, OANDO and MTNN posted gains of 1.24% and 0.15%, respectively, while WAPCO saw a 1.13% decline.
In the FUGAZ category, FBNH, ZENITHBANK, and UBA fell by 1.50%, 1.19%, and 0.53%, respectively. GTCO and ACCESSCORP remained unchanged.
Market outlook
The market is expected to maintain positive momentum with the release of financial results from late January into early February. If the index sustains its position above the 104,500 threshold without entering overbought territory, it could surpass the 105,000 mark in the near term.
