The Nigerian stock market closed the trading week ended May 16, 2025, on a strong note, with the All-Share Index ascending 976.97 points, fueled by significant gains in the consumer goods sector.
This represents a 0.90% week-on-week rise, as the index climbed from 108,733.40 to 109,710.37, closing with a year-to-date gain of 6.59% despite a dip in trading activity.
Weekly trading volume edged lower by 1.49%, settling at 2.60 billion shares, compared to 2.64 billion in the previous week.
Meanwhile, market capitalization surged to N68.9 trillion from N68.3 trillion, holding strong above the N68 trillion threshold.
- Sixty-one (61) equities recorded gains during the week, slightly below the 68 that advanced in the previous week.
- Meanwhile, 31 equities declined in price, up from 28 in the prior week, while 56 equities remained unchanged.
Market overview
The Nigerian equities market delivered a broadly positive performance last week, with the benchmark index closing in the green on four out of five trading days.
- The week began on a subdued note as the index dipped below the 108,500 mark on Monday, settling at 108,467.98.
- However, momentum quickly shifted on Tuesday as bullish sentiment returned and persisted through the rest of the week, lifting the market to consecutive daily gains.
Key highlights
- The NGX Premium Index edged down by 0.05%.
- In contrast, the NGX 30 Index advanced by 0.83%, while the NGX Main Board Index posted a stronger gain of 1.74%.
Sector performance
- The NGX Consumer Goods Index led sectoral performance, surging 4.08% week-to-date, driven by impressive rallies in CHAMPION BREWERIES and NORTHERN NIGERIAN FLOUR MILLS, both of which jumped over 30%.
- The NGX Insurance Index followed with a 2.47% gain, driven by a strong performance from CORNERSTONE INSURANCE, which soared more than 15%.
- Similarly, the NGX Banking Index rose 1.19%, supported by a 10% climb in ACCESSCORP and modest gains in FIDELITY BANK.
- The NGX Oil & Gas Index inched up by 0.66%, while the NGX Industrial Goods Index posted a marginal increase of 0.13%.
Top gainers
Leading the gainers’ chart, BETA GLASS PLC surged by 46.31% week-to-date, followed by CHAMPION BREWERIES, which rose by 42.08%. Other notable gainers included:
- Caverton Offshore Support Group Plc: up 37.70% to N4.20
- FTN Cocoa Processors Plc: up 36.32% to N2.59
- Northern Nigerian Flour Mills Plc: up 32.49% to N119.90
- NPF Microfinance Bank Plc: up 32.31% to N2.58
- Neimeth International Pharmaceuticals Plc: up 26.28% to N3.70
- May & Baker Nigeria Plc: up 25.74% to N12.70
- Chellarams Plc: up 25.48% to N13.05
- McNichols Plc: up 24.71% to N2.12
Top losers
At the bottom of the chart, MULTIVERSE MINING AND EXPLORATION PLC declined by 19.50% week-to-date, followed by UNION DICON SALT PLC, which lost 11.83%. Other notable decliners included:
- Nigerian Aviation Handling Company Plc: down 9.64% to N75.00
- University Press Plc: down 8.90% to N4.40
- Legend Internet Plc: down 6.67% to N8.40
- International Energy Insurance Plc: down 6.59% to N1.70
- Dangote Sugar Refinery Plc: down 4.76% to N38.00
- AIICO Insurance Plc: down 4.19% to N1.60
- Deap Capital Management & Trust Plc: down 2.94% to N0.99
- First Holdco Plc: down 2.73% to N24.95
Corporate announcements
This week, the corporate landscape saw several noteworthy announcements:
- Airtel Africa revealed the second tranche of its share buy-back programme.
- Stanbic IBTC disclosed resolutions passed at its AGM, including the approval of dividends.
- John Holt published resolutions passed at its AGM.
- International Breweries informed NGX and the public about recent changes to its board.
Market outlook
The All-Share Index has strengthened, maintaining its position above the 109,500 mark, showing positive price action that could drive it beyond the 110,000 zone.
If the upward momentum in large and mid-cap stocks continues into the next week, the index may reach new levels, pushing further towards higher highs.
