The stock market appreciated by N1.95 trillion in January 2025, even as investors continue to adopt cautious trading on the Nigerian Exchange Limited.
Specifically, the NGX market capitalisation added N1.95 trillion at the close of trading on Friday, rising from the N62.763 trillion it opened in 2025, to close at N64.709 trillion at the end of January.
When compared to January 2024, the market capitalisation gained N14.44 trillion.
Also, the NGX All-Share Index closed January 2025 at 104,496.12 basis points, about 1.53 per cent or 1,569.72 basis points Year-till-Date higher from 102,926.40 basis points the stock market opened for trading this year.
Since the beginning of 2025, the stock market has witnessed cautious trading by investors, especially in the Oil & gas, insurance and Industrial Goods sub-sector, and it triggered massive sell-off in large company stocks quoted on the bourse.
The NGX Industrial Goods plummeted by -8.52 percent YtD to close at 3,267.66 basis points as of January 31 2025 following massive profit-taking in Dangote Cement Plc stock price by 17.7 per cent YtD from N394 per share it opened for trading to N478.80 per share as of January 31, 2025.
Also, the NGX Oil Gas Goods dropped by -1.61 in its YtD performance to 2,668.40 basis points over 4.8 per cent YtD decline in Aradel Holdings Plc to N569.3 per share as of January 2025 from N598 per share it opened for trading this year, as Totalenergies Marketing Nigeria Plc was down by 4.01 per cent to close at N670 per share.
In addition, the NGX Insurance index was down -1.10 per cent YtD on profit-taking in Sunu Assurances Nigeria Plc that dwindled significantly by 46.5 per cent from N10.75 per share it closed 2024 to close January 31, 2025 at N5.75 per share.
However, the outcome of a successful recapitalisation by some banks impacted on the NGX Banking index as it advanced by 9.76per cent YtD growth to close January 2025 at 1,190.35 basis points on aggressive demand for Zenith Bank Plc, Access Holdings Plc Guaranty Trust Holding Company Plc.
In January 2025, the stock price of Zenith Bank and GTCO advanced by 11.2 percent and 7.1 percent to close January 31, 2025 at N50.6 and N61.05 per share, respectively.
The stock price of Access Holdings moved from N23.85 per share in 2024 close of market transactions, gaining about 9.01 percent YtD to N26.00 per share, while United Bank for Africa (UBA) Plc appreciated by 10.88 per cent to close January 2025 at N37.7 per share.
The Nigerian stock market had closed 2024 NGX ASI with an impressive annual growth of 37.65 percent amid double-digit inflation, Central Bank of Nigeria (CBN) increasing its monetary policy rate to 27.50 per cent that led to high yield on government securities and unstable naira at the foreign exchange market.
Analysts stated that the stock market performance in January 2025 was a reflection of uncertainty in the domestic economy.
An Investment Banker & Stockbroker, Tajudeen Olayinka in a chat with journalists stated that stock market performance in January 2025 was not impressive due to the 2024 year-end rally that came rather too late and unimpressive.
On President Donald Trump’s policies impacting the emerging market, he said, “I do not see any negative impact on the market from Trump’s presidency because Nigeria is an import- dependent nation, not to be seriously affected by Trump’s wall of tariffs.”
Hitherto, the Managing Director Arthur Steven Asset Management Limited, Olatunde Amolegbe, said the stock market growth in 2025 was underpinned by ongoing bank recapitalisation efforts, new listings, and anticipated monetary policy easing by the CBN.
Amolegbe, highlighted Nigeria’s relative market attractiveness as a key factor in attracting increased foreign portfolio inflows provided stable policies are maintained.
