Overview
The Nigerian stock market witnessed mixed performance on January 16, 2025, reflecting the broader economic landscape marked by high inflation, fluctuating exchange rates, and varying sectoral growth. The NGX All Share Index recorded a marginal gain of 0.09%, closing at 102,183.06. This movement reflects cautious optimism among investors as corporate earnings season begins.
Top 5 Performing Stocks
- Northern Nigeria Flour Mills Plc (NNFM)
- Price: ₦54.45
- Sector: Process Industries
- 1-Day Change: +10%
This stock surged on robust investor interest likely driven by favorable earnings expectations and market optimism surrounding Nigeria’s agricultural sector reforms.
- Dangote Sugar Refinery Plc (DANGSUGAR)
- Price: ₦40.50
- Sector: Process Industries
- 1-Day Change: +9.91%
The price uptick aligns with increased demand for consumer goods as sugar prices stabilize in international markets.
- John Holt Plc (JOHNHOLT)
- Price: ₦9.30
- Sector: Consumer Services
- 1-Day Change: +9.8%
Recent investments in energy-efficient technologies bolstered its stock performance, showcasing its commitment to innovation.
- The Initiates Plc (TIP)
- Price: ₦2.80
- Sector: Commercial Services
- 1-Day Change: +9.8%
Environmental regulations and waste management demand have supported TIP’s growth trajectory.
- Omatek Ventures Ltd (OMATEK)
- Price: ₦0.90
- Sector: Electronic Technology
- 1-Day Change: +9.76%
Investors are optimistic about its new technology initiatives and expansion plans in Nigeria’s growing tech sector.
Worst 5 Performing Stocks
- Livestock Feeds Plc (LIVESTOCK)
- Price: ₦5.40
- Sector: Process Industries
- 1-Day Change: -10%
The stock dropped amidst declining feed demand and input cost pressures.
- Eunisell Interlinked Plc (EUNISELL)
- Price: ₦15.62
- Sector: Producer Manufacturing
- 1-Day Change: -9.97%
Weak quarterly earnings projections contributed to investor sell-offs.
- Neimeth Pharmaceuticals Plc (NEIMETH)
- Price: ₦3.12
- Sector: Health Technology
- 1-Day Change: -9.83%
Concerns over regulatory hurdles weighed on the stock.
- Regency Alliance Insurance Plc (REGALINS)
- Price: ₦0.68
- Sector: Finance
- 1-Day Change: -9.33%
The insurance sector remains under pressure due to low penetration rates.
- Honeywell Flour Mills Plc (HONYFLOUR)
- Price: ₦9.21
- Sector: Process Industries
- 1-Day Change: -9.26%
Rising production costs and foreign exchange volatility dampened market sentiment.
Sector Performance
- Top Sectors:
- Electronic Technology: Driven by growing investment in digitalization.
- Commercial Services: Increased demand for outsourcing solutions.
- Non-Energy Minerals: Aided by mining policy reforms.
- Weakest Sectors:
- Producer Manufacturing: Impacted by rising costs and supply chain disruptions.
- Health Technology: Facing pricing pressures amidst regulatory challenges.
Macroeconomic Indicators
- Inflation: December’s inflation rate was reported at 34.80%, reflecting persistent cost-push pressures.
- Exchange Rate: The naira closed at ₦1,550 against the US dollar on January 15, 2025.
- Monetary Policy: The Central Bank’s Monetary Policy Rate remained at 27.50%, maintaining its stance to curb inflation.
Market Outlook
Investors are closely watching upcoming corporate earnings announcements from key companies such as Vitafoam Nigeria Plc, Honeywell Flour Mills Plc, and others scheduled for January 28, 2025. Despite headwinds, the long-term outlook for Nigeria’s stock market remains promising, supported by structural reforms and a resilient private sector.
