Market Overview
The Nigerian Stock Exchange (NGX) continued its bullish trend on January 30, 2025, with the NGX All Share Index (ASI) rising by 0.57% to 104,549.74 points, reflecting positive investor sentiment in select sectors. The day’s trading saw notable gains in producer manufacturing and transportation, while retail trade and health technology sectors struggled.
Top 5 Gainers
The best-performing stocks for the day witnessed impressive price appreciation, with CHELLARAMS PLC (CHELLARAM) and HONEYWELL FLOUR MILLS PLC (HONYFLOUR) leading the charge, each recording a 10.0% increase in price.
| Symbol | Company | Sector | Price (NGN) | % Change (1 Day) |
|---|---|---|---|---|
| CHELLARAM | CHELLARAMS PLC | Producer Manufacturing | 5.94 | 10.0% |
| HONYFLOUR | HONEYWELL FLOUR MILLS PLC | Process Industries | 9.35 | 10.0% |
| NNFM | NORTHERN NIGERIA FLOUR MILLS | Process Industries | 55.1 | 9.98% |
| REDSTAREX | RED STAR EXPRESS PLC | Transportation | 5.0 | 9.89% |
| SKYAVN | SKYWAY AVIATION HANDLING CO | Transportation | 40.0 | 9.89% |
Key Takeaways:
- CHELLARAMS PLC (CHELLARAM) saw increased buying interest following reports of strategic expansion into new product lines.
- HONEYWELL FLOUR MILLS (HONYFLOUR) and NORTHERN NIGERIA FLOUR MILLS (NNFM)benefited from strong demand in the process industries sector.
- RED STAR EXPRESS (REDSTAREX) and SKYWAY AVIATION (SKYAVN) saw gains as investors showed confidence in the logistics and transportation sectors.
Worst 5 Performers
Some stocks experienced heavy selloffs, with GUINEA INSURANCE PLC (GUINEAINS) leading the laggards after declining 10.0%.
| Symbol | Company | Sector | Price (NGN) | % Change (1 Day) |
|---|---|---|---|---|
| GUINEAINS | GUINEA INSURANCE PLC | Finance | 0.72 | -10.0% |
| RTBRISCOE | R T BRISCOE PLC | Retail Trade | 2.7 | -9.7% |
| VERITASKAP | UNITY KAPITAL ASSURANCE PLC | Finance | 1.17 | -9.3% |
| MAYBAKER | MAY & BAKER NIGERIA PLC | Health Tech | 8.65 | -8.95% |
| DAARCOMM | DAAR COMMUNICATIONS PLC | Consumer Svcs | 0.78 | -7.14% |
Key Takeaways:
- GUINEAINS (Guinea Insurance PLC) faced profit-taking as investors rotated funds into higher-growth stocks.
- RT BRISCOE (RTBRISCOE) and VERITASKAP suffered from weak earnings reports and investor concerns over financial stability.
- MAY & BAKER (MAYBAKER) and DAAR COMMUNICATIONS (DAARCOMM) declined amid increased regulatory scrutiny in their respective sectors.
Sector Performance
Top Sectors:
✔ Producer Manufacturing – Driven by strong performance from CHELLARAMS and other manufacturing firms.
✔ Consumer Durables – Investors favored companies in this sector for stability.
✔ Commercial Services – Increased demand for logistics and transport services.
✔ Distribution Services – Boosted by strong retail demand.
✔ Transportation – Positive investor sentiment on aviation and logistics firms.
Worst Sectors:
✘ Retail Trade – Weak earnings dragged down stock prices.
✘ Health Technology – Declining investor confidence.
✘ Consumer Services – Profit-taking led to sell-offs.
✘ Energy Minerals – Declining crude oil prices impacted valuations.
✘ Health Services – Increased operational costs hurt performance.
Macroeconomic Indicators & Market Trends
- Inflation Rate: 34.8% YoY in December 2024
- Monetary Policy Rate (MPR): 27.50% as of December 2024
- Average Inter-bank Call Rate: 27.00% (as of Jan 28, 2025)
- Exchange Rate (Jan 29, 2025):
- Opening: 1,508.40 NGN/USD
- Closing: 1,506.00 NGN/USD
Investor Sentiment & Outlook
The Nigerian stock market continues its positive momentum, with the NGX All Share Index posting a 0.57% increaseon January 30, 2025. The transportation and producer manufacturing sectors remain strong, while retail and health sectors face challenges.
With continued monetary tightening by the Central Bank of Nigeria (CBN) and persistent inflationary pressure, investors are advised to adopt a cautious approach while focusing on value stocks with strong fundamentals.
📌 Investment Tips for February 2025:
- BUY: Stocks in manufacturing and transportation sectors due to strong growth potential.
- HOLD: Stocks in consumer durables for long-term stability.
- SELL: Weak-performing stocks in retail trade and healthcare with declining revenues.
Stay updated with the latest stock market trends on Naija Investing Hub for real-time insights and expert analysis.
Final Thoughts
January 30, 2025, was a bullish trading day for the Nigerian Stock Exchange, with select sectors driving market growth. While some stocks performed exceptionally well, others struggled due to industry-wide challenges. Investors should stay informed, monitor economic indicators, and adjust their portfolios accordingly to navigate the evolving market landscape.
