Equities Start 2025 Strong with 1.42% Weekly Gain: Investor Optimism Rises
ABANK.
The NGX-Oil and Gas Index recorded a marginal decline of 0.45 per cent due to selloffs in TOTAL, ETERNA, and OANDO.
Some of the top-performing stocks for the week included PRESTIGE which advanced by 46 per cent, NEIMETH by 45.3 per cent, and SOVRENINS and CORONATION surged by 45.2 per cent and 44.9 per cent respectively. On the downside, PZ CUSSONS depreciated by 13.8 per cent, CWG dropped 10.8 per cent, and UNIONDICON and NGXGROUP lost 10 per cent and 9.2 per cent respectively.
According to Cowry Research, the strong start to 2025 indicates the attractiveness of the Nigerian Exchange for portfolio diversification. Key sectors, such as insurance, banking, consumer goods, and industrial goods, have seen increased investor interest, suggesting room for further growth. Looking forward, market sentiment is expected to remain bullish, although some profit-taking might temper gains in the short term.
