The Nigerian stock market, as measured by the All-Share Index (ASI), experienced a sharp downturn during the trading week ending January 17, 2025. This decline broke a six-week streak of consecutive gains, with the market impacted by losses in key sectors such as industrial goods and insurance.
The All-Share Index fell by 3,097.38 points, closing at 102,353.68. This marks a 2.94% decline from the previous week’s close of 105,451.06. Market capitalization also dropped significantly, shedding N1.5 trillion to settle at N62.8 trillion, down from N64.3 trillion the week before.
The week’s trading activity saw a substantial slowdown, with the total volume of shares traded plummeting by 38%. Investors exchanged 2.2 billion shares, a sharp drop from the 3.6 billion shares recorded in the prior week.
The overall market sentiment weakened, as indicated by the market breadth. Only 33 equities recorded price gains during the week, a significant decline from the 51 gainers in the previous week. Meanwhile, the number of equities posting losses increased to 57, up from 39 in the prior week.
Sectoral performance painted a mixed picture, with notable losses in the industrial goods and insurance sectors weighing heavily on the market’s overall performance.
The week began on a bearish note, with the All-Share Index trending downward. Losses were most pronounced on Tuesday and Wednesday, dragging the index into the 102,000-point range. While small recoveries were observed on Thursday and Friday, they were not enough to offset the earlier losses, leaving the index firmly in the red by week’s end.
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