The All-Share Index broke new ground this week, soaring above the 114,500 mark to close at 114,616.75 on June 5, 2025, sealing the first trading week of the month firmly in positive territory.
The index posted four consecutive days of gains, ending the week up 2.57% and bringing its year-to-date performance to 11.36% as of the close of trading on Thursday, June 5, 2025.
This bullish stride was accompanied by a surge in market activity, as trading volume maintained 3 billion shares, signaling stronger investor participation and a clear tilt toward the buy side.
At the heart of this rally were select heavyweight stocks, whose sheer size and influence on the index played a central role in propelling the market upward. As these stocks appreciated, they collectively powered the index rise.
Here are the heavyweight stocks that led to the rally. For emphasis, the market capitalization of each appreciating stock is included in brackets beside the stock name.
Under 10% gainers
ACCESSCORP (N1.23 trillion) led the pack among heavyweight stocks with weekly gains under 10%, rising by 5.45%. With a market capitalization of N1.23 trillion, the stock saw its strongest performance on Thursday, jumping over 5% to close at N23.20.
GTCO (N2.39 trillion) followed closely, posting a 4.55% gain to end the week at N70.05, while ARADEL (N2.38 trillion) climbed 3.77% to close at N550.59.
Also in the 3% bracket were key banking players UBA (N1.47 trillion), which advanced 3.75% at N36.00, and ZENITHBANK (N2.08 trillion), up 3.57% to settle at N50.75.
Meanwhile, cement giant LAFARGE (N1.38 trillion) edged up modestly by 0.88%, closing the week at N86.00.
Notably, most of these heavyweight gainers saw their upward movement later in the week, particularly on Thursday, except for GTCO, which showed strength earlier with gains on both Tuesday and Wednesday.
Over 10% gainers
Although still below the N1 trillion mark, OANDO gained 25.77% to close the week at N56.85, pushing its market capitalization to N706.7 billion.
FBN Holdings saw a 17.60% increase, closing at N29.40 and taking its market cap to N1.23 trillion.
Telecom giant MTN Nigeria (MTNN) rose 13.96% to finish at N319.20, lifting its market capitalization to N6.70 trillion.
International Breweries advanced 12.89%, ending the week at N10.95, with its market cap rising to N1.84 trillion.
What the rally implies:
Sustained bullish momentum in heavyweight Nigerian stocks could continue to lift the All-Share Index, potentially extending its gains for the year.
- In 2024, the index surged to an impressive year-to-date return of 37.65%, a mark it has yet to revisit, currently standing at 11.36% year-to-date.
Yet, the market’s strong pulse is undeniable. With weekly trading volumes surpassing 3 billion shares and widespread buying interest across both large- and mid-cap stocks, investor participation appears both deep and broad.
- If the rallying stocks are not perceived as overbought, the upward trajectory could persist.
- Still, any potential pullback in the index might create fresh entry points for investors eager to buy the dip.
