Investors Gain N1.7trn as ASI Hits Record High

Samuel Mobolaji

Investors in the Nigerian equities market recorded substantial gains of over N1.7 trillion in the week ended May 9, 2025, as bullish sentiment pushed the All-Share Index (ASI) to an all-time high.

The ASI rose by 2.54 per cent week-on-week, adding 2,690.83 points to close at 108,733.40 from the previous week’s 106,042.57, marking the highest weekly close on record.

Market capitalisation surged correspondingly from N66.6 trillion to N68.3 trillion, reinforcing strong investor confidence across key sectors and blue-chip stocks.

The robust performance was underpinned by strong buying interest in heavyweights like MTN Nigeria, which soared by 11.7 per cent, as well as renewed investor appetite for tier-one banks and major industrial stocks such as Zenith Bank, Dangote Cement, and First Holdco.

The NGX Premium Index led the rally with a 3.54 per cent rise, while sectoral indices including Consumer Goods, Oil & Gas, and Banking recorded weekly gains of 5.41 per cent, 3.98 per cent, and 3.09 per cent, respectively.

Top gainers included Multiverse Mining, which jumped by 57.48 per cent, Academy Press with 50.52 per cent, and Beta Glass, which advanced 46.31 per cent. Cadbury and Northern Nigerian Flour Mills also posted impressive returns of 22.26 per cent and 20.67 per cent, respectively.

In contrast, Abbey Mortgage Bank led the week’s losers, falling by 15.66 per cent, followed by Meyer Plc with a 13.51 per cent decline, while VFD Group and Transcorp Power also closed the week in the red.

Despite a mild retreat on Friday, which saw the ASI dip by 498.56 points from Thursday’s intra-week peak of 109,231.96, the market maintained its bullish trajectory across four of the five trading sessions.

The week’s total trading volume reached 2.6 billion shares, up 20.26 per cent from the previous week’s 2.19 billion, indicating increased investor participation.

With investor optimism holding firm and mid-to-large cap stocks maintaining momentum, the market appears poised to test the psychological 110,000 mark in the near term.