Stock Market Gain Over N960bn, Amid Strong Corporate Performances
- The Nigerian stock market ended last week with a strong performance as investors shared over N960 billion
- Data shows that consumer goods, banking and insurance stocks pushed the market higher in the week
- In the last trading day, Guaranty Trust Holding Company, Fidelity Bank, MTN Nigeria, and Zenith Bank were among the top traded companies
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s equities market value increased by N966 billion during the four-day trading week that ended on Friday, April 25.
The market opened for just four trading days due to the public holidays declared by the Federal Government of Nigeria on Monday, April 21, to commemorate the 2025 Easter celebration.
The market showed positive momentum with three days of gains, contrasted by a single day of negative performance.
Source: Getty Images
Data from the Nigerian Exchange Limited (NGX) showed that the All-Share Index (ASI) rose by 1.46% in the week under review, pushing this year’s total return to 2.75%.
Consumer goods, banking, and insurance stocks were the primary drivers of the market's upward movement, while industrial and oil & gas stocks experienced notable selling pressure.
Analysts suggest that these sectors, particularly consumer goods and banking, are likely to continue to benefit from investor optimism as companies report strong earnings in the coming weeks.
By the close of trading on Friday, the NGX ASI had increased to 105,752.61 points, up from the previous week’s close of 104,233.81 points.
The market capitalisation also saw an increase, rising from N65.499 trillion to N66.465 trillion.
Source: Getty Images
Here is a snapshot of the market performance on Friday
Top active trades:
- Guaranty Trust Holding Company Plc: 60,735,674 shares traded, valued at N3.81 billion.
- Fidelity Bank Plc: 41,407,931 shares traded, valued at N829.29 million.
- Access Holdings Plc: 40,556,296 shares traded, valued at N968.26 million.
- MTN Nigeria Plc: 32,969,504 shares traded, valued at N8.24 billion.
- Zenith Bank Plc: 22,935,274 shares traded, valued at N1.05 billion.
Top gainers:
- International Breweries Plc: Last closed at N7.00, now N7.70, gaining N0.70 (+10.00%).
- Oando Plc: Last closed at N6.20, now N6.82, gaining N0.62 (+10.00%).
- Ikeja Hotel Plc: Last closed at N11.00, now N12.10, gaining N1.10 (+10.00%).
- Vitafoam Nigeria Plc: Last closed at N40.80, now N44.85, gaining N4.05 (+9.93%).
- Eterna Plc: Last closed at N36.30, now N39.90, gaining N3.60 (+9.92%)
Top losers:
- Dangote Cement Plc: Last closed at N480.00, now N432.00, losing N48.00 (-10.00%).
- Regal Insurance Plc: Last closed at N0.62, now N0.57, losing N0.05 (-8.06%).
- VFD Group Plc: Last closed at N18.50, now N17.10, losing N1.40 (-7.57%).
- Chams Plc: Last closed at N2.20, now N2.04, losing N0.16 (-7.27%).
- Sovereign Trust Insurance Plc: Last closed at N0.98, now N0.92, losing N0.06 (-6.12%).
Dollar crashes in official and unofficial markets
Ealier, Legit.ng reported that the Nigerian currency, the naira, has improved against the United States dollar in the official market.
Data from the CBN showed that the new exchange rate in the official market is a N0.6 appreciation, while in the black market dollar crashes by N20.
Yemi Cardoso, the Central Bank of Nigeria, has expressed confidence in its reforms and said Nigeria’s economic trajectory is turning positive.
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Source: Legit.ng
