The Nigerian All-Share Index outperformed four other major African stock exchanges in May 2025, posting a solid month-to-date gain of 5.62%.
This strong performance saw Nigeria’s domestic bourse edge ahead of the Casablanca Stock Exchange, the Johannesburg Stock Exchange, the Egyptian Exchange, and the Ghana Securities Exchange.
However, the best-performing exchange among the group was the Nairobi Securities Exchange, which powered ahead with an impressive 6.4% return, outpacing Nigeria’s All-Share Index by 0.8 percentage points.
The All-Share Index had kicked off the month at 105,920.18 and steadily soared to close at 111,742.01, ending May firmly in the green and signaling strong investor activity in Nigeria’s equities market.
To put these performances into a better perspective, a closer look at each exchange in May would provide a valuable context.
Other major African bourses
Among the five other major African domestic stock exchanges, the Nairobi Securities Exchange led the way in May with a strong return of 6.4%, bringing its year-to-date performance to 8.7%.
- The index began the month at 125.60 points, reached a high of 134.51 on May 19, and closed slightly lower at 134.21.
- This exchange has a market capitalization of KES 2.1 trillion, equivalent to about N25.7 trillion.
Following closely was the Nigerian All-Share Index, which posted a 5.26% gain for the month, climbing from 105,920.18 to close at 111,742.01.
- This rally lifted its market capitalization to N70.4 trillion, placing it second among the continent’s major bourses.
The Moroccan All-Shares Index came next with a 3.4% increase, closing May at 17,976.11. The Johannesburg Stock Exchange followed with a 3.0% gain, pushing its total market cap above ZAR 22.18 trillion, or around N1.96 quadrillion.
Furthermore, the Egyptian Exchange, tracked by the EGX30, posted a 1.8% rise to end the month at 32,126.22 index points.
Meanwhile, the Ghana Securities Exchange recorded a more modest 0.8% gain, with a market capitalization of GHS 134.82 billion, equivalent to about N21 trillion.
S&P 500, NASDAQ, FTSE 100, and Nikkei
When compared to major global weighted indices, the Nigerian All-Share Index held its own in May with a month-to-date gain of 5.62%. This outpaced both the UK’s FTSE 100, which rose 3.27%, and Japan’s Nikkei 225 at 5.33%.
Leading the pack was the technology-focused NASDAQ, which soared 9.04%, closing the month at 21,340.99 with a market volume of 7.5 billion shares.
Trailing just behind was the larger S&P 500, which posted a solid 6.15% gain, finishing at 5,911.68 index points.
Like the Nigerian All-Share Index, all these global trackers are riding a long-term bullish trend in the stock market despite the disruptions caused by COVID-19.
- This underscores the potential profitability of sustained investments in equities over time.
Overall, the Nigerian All-Share Index delivered a strong May 2025 performance, holding its own against both key African and global indices.
