Top Performers
The Nigerian stock market witnessed significant activity on January 17, 2025, with notable gains in specific sectors. Here are the top 5 performers:
- Caverton Offshore Support Group Plc (CAVERTON)
- Sector: Transportation
- Price: ₦2.2
- 1-Day Price Change: +10.0%
- Livestock Feeds Plc (LIVESTOCK)
- Sector: Process Industries
- Price: ₦5.94
- 1-Day Price Change: +10.0%
- Sovereign Trust Insurance Plc (SOVRENINS)
- Sector: Finance
- Price: ₦1.1
- 1-Day Price Change: +10.0%
- Neimeth International Pharmaceuticals Plc (NEIMETH)
- Sector: Health Technology
- Price: ₦3.43
- 1-Day Price Change: +9.94%
- Royal Exchange Plc (ROYALEX)
- Sector: Finance
- Price: ₦0.89
- 1-Day Price Change: +9.88%
Sectoral Analysis
The gains in the transportation, finance, and health technology sectors highlight the growing investor confidence in these areas. Increased demand for essential goods and services, coupled with strategic corporate decisions, contributed to this positive momentum.
Worst Performers
While some stocks surged, others faced downward pressure. The worst-performing stocks for the day include:
- Academy Press Plc (ACADEMY)
- Sector: Consumer Services
- Price: ₦3.15
- 1-Day Price Change: -9.74%
- PZ Cussons Nigeria Plc (PZ)
- Sector: Consumer Non-Durables
- Price: ₦25.0
- 1-Day Price Change: -9.09%
- Daar Communications Plc (DAARCOMM)
- Sector: Consumer Services
- Price: ₦0.74
- 1-Day Price Change: -8.64%
- Transnational Corporation of Nigeria Plc (TRANSCORP)
- Sector: Utilities
- Price: ₦46.95
- 1-Day Price Change: -5.91%
- Dangote Sugar Refinery Plc (DANGSUGAR)
- Sector: Process Industries
- Price: ₦38.5
- 1-Day Price Change: -4.94%
Sectoral Impact
The utilities and consumer non-durables sectors bore the brunt of market volatility, reflecting broader economic challenges such as fluctuating energy prices and inflationary pressures.
Macroeconomic Context
- Inflation: Nigeria’s inflation rate for December 2024 stood at 34.8%, a slight increase from November’s 34.6%.
- Interest Rates: The Central Bank of Nigeria maintained a Monetary Policy Rate (MPR) of 27.5%, reflecting a tight monetary stance aimed at curbing inflation.
- Exchange Rate: The naira experienced moderate fluctuations, with a closing rate of ₦1,560.00/USD on January 16, 2025.
These macroeconomic conditions underscore the challenges businesses face, including rising input costs and subdued consumer spending.
Market Indices Performance
- NGX All Share Index: Closed at 102,353.68, up by 0.17% from the previous day. The index’s performance reflects cautious optimism among investors.
- NGX 30 Index: Recorded a marginal increase, closing at 3,786.54, with a daily gain of 0.06%.
Key Takeaways
- Top Gainers: Stocks in transportation, finance, and health technology sectors exhibited robust growth.
- Top Losers: Utilities and consumer-focused stocks faced headwinds.
- Macroeconomic Pressures: Inflation and high interest rates remain critical challenges for businesses.
