The Nigerian All-Share Index concluded the week ended March 28, 2025, on a positive note, gaining 697.68 points, driven by a robust performance in the banking sector.
This increase reflects a weekly gain of 0.66%, as the index advanced from the prior week’s closing of 104,962.96 to 105,660.64, successfully returning above the crucial 105,000 level it had slipped from.
Trading activity rose by 4.96%, with the volume of shares exchanged increasing from 2.9 billion to 3 billion shares.
This increase in trading activity, combined with favourable price movements, elevated the market capitalization from N65.8 trillion to N66.2 trillion, surpassing the N66 trillion threshold.
During the week, 43 stocks appreciated, an improvement compared to the 32 that experienced gains the prior week.
Conversely, 36 equities saw price declines, a decrease from the 48 that fell in the week before.
Market overview
The Nigerian stock market demonstrated a commendable recovery back to the 105,000 level, with most sectors, apart from the Oil and Gas index, concluding the week in positive territory.
The All-Share Index started the week strongly, showcasing significant gains on Monday and a slight increase on Tuesday.
However, momentum waned on Wednesday and Thursday, resulting in minor declines, before Friday’s trading concluded on a positive note.
Key highlights of the week
- The NGX Premium Index experienced an increase of 0.50%, driven by gains of over 3% in FIRSTHOLD and ZENITHBANK, alongside modest increases in ACCESSCORP and UBA.
- The NGX 30 Index also rose by 0.71%, while the NGX-Main Board Index recorded a 0.75% increase.
Sectoral indices
- The NGX Banking Index led the market with a notable gain of 5.61%, primarily driven by an impressive 18.21% increase in GTCO. Other banks, including FIDELITY, ZENITH BANK, STERLING, ACCESSCORP, JAIZ BANK, and UBA, also reported favorable performances throughout the week.
- The NGX Insurance Index increased by 1.89%, driven by strong contributions from MUTUAL BENEFITS ASSURANCE PLC, SUNU ASSURANCES NIGERIA PLC, and UNIVERSAL INSURANCE PLC.
- A modest gain of 0.33% was observed in the NGX Consumer Goods Index, while the NGX Industrial Goods Index registered a slight increase of 0.01%.
- In contrast, the NGX Oil and Gas Index faced a decline of 1.65%, with ETERNAOIL, OANDO, and ARADAL closing the week in the negative.
Top gainers
Leading the charge among gainers was MUTUAL BENEFITS ASSURANCE PLC, which climbed by 56.72% week-to-date, followed by SUNU ASSURANCES NIGERIA PLC at 33.27%. Other notable gainers included:
- ABBEY MORTGAGE BANK PLC: up 31.39%, N4.73
- ROYAL EXCHANGE PLC: up 31.25%, N1.05
- E-TRANZACT INTERNATIONAL PLC: up 19.79%, N5.75
- GUARANTY TRUST HOLDING COMPANY PLC: up 18.21%, N68.80
- UNIVERSAL INSURANCE PLC: up 15.38%, N0.60
- N NIG. FLOUR MILLS PLC: up 9.96%, N87.75
- LEARN AFRICA PLC: up 9.93%, N3.32
- S C O A NIG. PLC: up 9.02%, N4.47
Top losers
On the losers’ table was AFRICA PRUDENTIAL PLC, which declined by 60.45% week-to-date, followed by CWG PLC at 11.11%. Other notable losers included:
- JOHN HOLT PLC: down 10.00%, N7.74
- UH REAL ESTATE INVESTMENT TRUST: down 9.93%, N51.25
- UNITED CAPITAL PLC: down 9.84%, N16.50
- ASSOCIATED BUS COMPANY PLC: down 9.80%, N1.38
- DAAR COMMUNICATIONS PLC: down 9.09%, N0.60
- UPDC REAL ESTATE INVESTMENT TRUST: down 9.09%, N5.50
- DANGOTE SUGAR REFINERY PLC: down 8.06%, N33.10
- CUSTODIAN INVESTMENT PLC: down 6.70%, N19.50
Corporate actions overview
This week brought several significant corporate disclosures, especially regarding financial results.
- Abbey Mortgage Bank PLC released its audited financial statements for the year ended December 31, 2024.
- Ecobank Transnational Incorporated announced its audited financial statements for the same period.
- Guaranty Trust Holding Company PLC published its audited financial statements for the year that ended on December 31, 2024.
- Stanbic IBTC Holdings PLC disclosed its audited financial statements for the year that ended December 31, 2024.
- Aradel Holdings PLC issued its financial statements for the fifth quarter of 2024.
- Fidelity Bank PLC presented its audited financial statements for the year ended December 31, 2024.
- UAC of Nigeria PLC released its audited financial statements for the year that ended December 31, 2024.
- Livestock Feeds PLC disclosed its audited financial statements for the year that ended December 31, 2024.
- Caverton Offshore Support Group PLC announced its audited financial statements for the year that ended December 31, 2024.
Market outlook
The All-Share Index appears to be undergoing a correction as it rises above the 105,000-mark, from which it had previously declined.
- Should the positive momentum in banking and other sectors persist, the index could potentially exceed the 106,000 mark in the forthcoming weeks.
