The Nigerian All-Share Index (ASI) concluded the trading week ended May 9, 2025, on a positive note, surging by an impressive 2,690.83 points to close at 108,733.40.
This reflects a 2.54% week-to-date gain from the previous level of 106,042.57, marking the highest weekly close ever, as the premium index and all sectoral indices posted gains.
Trading activity also witnessed a significant uptick, as total market volume rose to 2.6 billion shares, representing a 20.26% increase from the 2.19 billion shares exchanged in the preceding week.
Similarly, market capitalization climbed to N68.3 trillion, up from N66.6 trillion in the prior week, solidifying its position above the N68 trillion mark.
- Investor sentiment remained bullish, as 68 equities recorded price gains—an improvement from the 52 gainers recorded in the previous week.
- Conversely, 28 equities declined in value, down from 37 in the prior week, while 52 equities closed flat, maintaining their previous week’s prices.
Market overview
The Nigerian equities market recorded a broadly positive performance for the week ended May 9, 2025, with the All-Share Index (ASI) closing higher in four out of five trading sessions.
- The week commenced on a bullish note, with the ASI advancing on Monday and gaining further momentum on Tuesday, rising from 106,698.50 to 108,361.10.
- On Wednesday, the index broke through the 109,000-point mark and extended its rally into Thursday, setting a new daily record high of 109,231.96.
However, the market experienced a mild pullback on Friday, shedding 498.56 points to close the week at 108,733.40—just below the 109,000 threshold.
Key highlights
The NGX Premium Index led major board indices with a robust 3.54% gain, driven by an 11.7% surge in MTN NIGERIA, along with moderate gains in FIRST HOLDCO, ZENITH BANK, and DANGOTE CEMENT (each posting under 4%).
The NGX 30 Index and the NGX Main Board Index also performed strongly, rising by 2.00% and 2.02%, respectively.
Sector performance
- The NGX Consumer Goods Index topped the sectoral performance chart with a 5.41% increase, driven by over 20% gains in CADBURY and NORTHERN NIGERIAN FLOUR MILLS, alongside a 14% rise in DANGOTE SUGAR.
- The Oil & Gas Index advanced by 3.98%, largely on the back of a bullish performance from OANDO, which gained over 3%.
- The NGX Banking Index posted a 3.09% gain, supported by 10% increase in STERLING BANK, an 8.6% uptick in GTCO, and marginal gains across the FUGAZ group of banks.
- The NGX Industrial Goods Index rose by 1.09%, while the NGX Insurance Index closed 0.99% higher.
Top gainers
Leading the gainers’ chart, MULTIVERSE MINING AND EXPLORATION PLC surged by 57.48% week-to-date, followed by ACADEMY PRESS PLC, which rose by 50.52%. Other notable gainers included:
- Beta Glass Plc: up 46.31% to N160.65
- The Initiates Plc: up 34.95% to N6.68
- International Energy Insurance Plc: up 31.88% to N1.82
- Chellarams Plc: up 31.81% to N10.40
- Skyway Aviation Handling Company Plc: up 30.11% to N60.50
- Associated Bus Company Plc: up 26.55% to N2.86
- Cadbury Nigeria Plc: up 22.26% to N39.00
- Northern Nigerian Flour Mills Plc: up 20.67% to N90.50
Top losers
At the bottom of the chart, ABBEY MORTGAGE BANK PLC declined by 15.66% week-to-date, followed by MEYER PLC, which lost 13.51%. Other notable decliners included:
- Veritas Kapital Assurance Plc: down 10.81% to N0.99
- VFD Group Plc: down 10.61% to N16.00
- Transcorp Power Plc: down 9.98% to N328.50
- Haldane McCall Plc: down 9.57% to N4.25
- Transnational Corporation Plc: down 7.69% to N42.00
- DEAP Capital Management & Trust Plc: down 7.27% to N1.02
- Regency Assurance Plc: down 6.78% to N0.55
- United Capital Plc: down 6.58% to N17.05
Corporate announcements
This week, the corporate landscape witnessed a series of significant announcements:
- Academy Press Plc released its financial statements for the third quarter ended 31st March 2025.
- DEAP Capital Management & Trust Plc published its financial report for the first quarter of 2025.
- Sterling Financial Holdings Company notified the public of a delay in the release of its audited 2024 results and unaudited Q1 2025 results.
- Seplat Energy Plc announced the currency exchange rate for the payment of its 2024 final and special dividends.
Market outlook
The All-Share Index has regained strong bullish momentum, testing the 109,000 level briefly and setting its sights on the 110,000 threshold.
- Sustained upward movement, particularly among mid- and large-cap equities, could provide the momentum required to propel the index beyond these psychological barriers in the near term.
