Equities Market Index up 0.90% as Investors Gain N600bn

Samuel Mobolaji

The Nigerian stock market closed the trading week ended May 16, 2025, on a positive note as the All-Share Index rose by 976.97 points or 0.90 per cent to 109,710.37, from 108,733.40 in the previous week.

Despite a marginal drop in trading activity, the year-to-date return improved to 6.59 per cent, while investors gained N600 billion as market capitalisation climbed from N68.3 trillion to N68.9 trillion.

Trading volume declined slightly by 1.49 per cent to 2.60 billion shares, from 2.64 billion recorded the previous week. Market sentiment remained broadly positive with 61 gainers against 31 losers, while 56 stocks remained unchanged.

The market ended higher on four of five trading sessions, recovering quickly after a weak start on Monday when the index fell below the 108,500 level. Bullish sentiment returned from Tuesday and held through the week, driving steady gains.

Among sectoral indices, the NGX Consumer Goods Index outperformed others with a 4.08 per cent gain, driven by strong rallies in CHAMPION BREWERIES and NORTHERN NIGERIAN FLOUR MILLS, which both appreciated over 30 per cent.

The NGX Insurance Index advanced 2.47 per cent, spurred by a double-digit gain in CORNERSTONE INSURANCE. The NGX Banking Index rose by 1.19 per cent, supported by a 10 per cent increase in ACCESSCORP and moderate gains in FIDELITY BANK. The Oil & Gas and Industrial Goods indices also posted slight advances.

BETA GLASS PLC topped the gainers’ list with a 46.31 per cent increase, followed by CHAMPION BREWERIES (42.08%), Caverton Offshore (37.70%), FTN Cocoa Processors (36.32%), Northern Nigerian Flour Mills (32.49%), NPF Microfinance (32.31%), Neimeth (26.28%), May & Baker (25.74%), Chellarams (25.48%), and McNichols (24.71%).

On the flip side, MULTIVERSE MINING led the laggards with a 19.50 per cent drop, trailed by UNION DICON SALT (11.83%), Nigerian Aviation Handling Company (9.64%), University Press (8.90%), Legend Internet (6.67%), International Energy Insurance (6.59%), Dangote Sugar (4.76%), AIICO Insurance (4.19%), Deap Capital (2.94%), and First Holdco (2.73%).

Key corporate updates during the week included Airtel Africa’s commencement of the second tranche of its share buy-back programme, AGM resolutions from Stanbic IBTC and John Holt, and board changes at International Breweries.

With the index holding firm above the 109,500 mark, analysts see potential for further gains if positive momentum continues in large- and mid-cap stocks, possibly pushing the index past the 110,000 threshold in the coming week.