The Nigerian equities market extended its bullish run in the trading week ended 2nd May 2025, as the All-Share Index (ASI) gained 289.96 points.
This marks a 0.27% week-on-week increase, as the index climbed from 105,752.61 to 106,042.57 points, driven by increased investor participation and a notable shine from the consumer goods sector.
Trading activity was robust, with volume rising by 18.65% to 2.1 billion shares, up from 1.8 billion shares exchanged in the previous week.
Similarly, market capitalization grew from N66.4 trillion to N66.6 trillion, reflecting strong positive sentiment and upward price movements in key stocks.
Despite the index’s gain, market breadth slightly narrowed.
- Fifty-two equities recorded price gains during the week, compared to 64 in the previous week.
- On the other hand, 37 stocks declined in value, an increase from 27 in the prior week.
Market overview
The trading week started on a positive note, with gains recorded on Monday. However, modest pullbacks followed on Tuesday and Wednesday.
After the market break for Thursday’s public holiday, the index rebounded strongly on Friday, closing above the significant 106,000 mark and confirming sustained bullish momentum.
Key Highlights
- The NGX Premium Index posted a moderate gain of 0.38%, supported by price advances exceeding 2% in major stocks such as UBA, ZENITH BANK, and LAFARGE.
- The NGX Main Board Index and NGX 30 Index also closed in positive territory, with weekly gains of 0.47% and 0.58%, respectively.
Sector performance
- The NGX Consumer Goods Index outperformed other sectors, rising by 2.89%, on double-digit gains in CADBURY and NIGERIAN BREWERIES.
- The NGX Industrial Goods Index recorded a marginal increase of 0.41%.
- Conversely, the NGX Oil & Gas Index declined by 2.90%, dragged down by a sharp drop of over 9% in ARADEL.
- The NGX Banking Index slipped by 0.38%, weighed down by significant losses in ECOBANK, which fell by more than 18%, and ACCESS HOLDINGS, which declined by 9%.
Top gainers
Leading the gainers was ASSOCIATED BUS COMPANY PLC, which soared by 44.87% week-to-date, followed by LEGEND INTERNET PLC at 32.40%. Other notable gainers included:
- Fidson Healthcare Plc: up 22.85%, N22.85
- University Press PLC: up 20.88%, N4.11
- Nigerian Aviation Handling Company PLC: up 20.17%, N82.50
- Cadbury Nigeria Plc: up 19.92%, N31.90
- Nigerian Breweries PLC: up 17.95%, N46.00
- May & Baker Nigeria PLC: up 16.22%, N8.60
- Deap Capital Management & Trust PLC: up 15.79%, N1.10
- NPF Microfinance Bank Plc: up 14.29%, N2.00
Top losers
At the bottom of the table was ECOBANK TRANSNATIONAL INCORPORATED, which declined by 18.75% week-to-date, followed by MULTIVERSE MINING AND EXPLORATION PLC at 18.59%. Other notable losers included:
- Livestock Feeds PLC: down 10.63%, N8.49
- Aradel Holdings PLC: down 9.86%, N448.00
- Tripple Gee and Company PLC: down 9.60%, N1.79
- Austin Laz & Company PLC: down 9.52%, N1.71
- Dangote Sugar Refinery PLC: down 9.21%, N35.00
- Access Holdings PLC: down 7.98%, N21.90
- John Holt PLC: down 7.94%, N5.80
- McNichols PLC: down 7.89%, N1.75
Corporate announcements
This week, the corporate landscape witnessed a series of significant announcements including:
- Seplat Energy Plc released its unaudited financial results for Q1 2025.
- Transcorp Plc published its Q1 2025 financial statement.
- Aradel Holdings Plc disclosed its financial performance for the first quarter of 2025.
- TotalEnergies Marketing Nigeria Plc announced its Q1 2025 earnings results.
- First Holdco Plc released its financial report for Q1 2025.
- UAC of Nigeria Plc reported its financial results for the first quarter of 2025.
- Dangote Sugar Refinery Plc published its Q1 2025 financial statement.
- Access Holdings Plc announced its earnings results for Q1 2025.
Market outlook
The All-Share Index has continued its upward trajectory, recently crossing the 106,000-point threshold—a key psychological level that signals strengthening bullish momentum.
- Looking ahead, sustained investor confidence and strong price movements, particularly among large- and mid-cap stocks, are expected to play a pivotal role in maintaining market stability.
