The Nigerian stock market closed the week ended June 20, 2025, solidly in the green, as the All-Share Index (ASI) rallied by a whopping 2,708.68 points, fueled by strong gains in SEPLAT, MTN, and GTCO.
This reflects a 2.35% week-to-date increase, with the index rising from 115,429.54 to 118,138.22, marking a four-week bullish streak.
The rally was accompanied by a significant rise in market activity, as trading volume soared to 3.5 billion shares, up by 73.9% from the previous week’s 2.05 billion shares.
Market capitalization also mirrored the upward momentum in both price and volume, rising to N74.5 trillion from N72.7 trillion in the prior week.
- In terms of market breadth, 55 equities recorded price gains during the week, the same number as in the previous week.
- However, 42 equities declined in price, higher than the 39 losers recorded in the previous week, while 51 equities remained unchanged.
Market overview
The Nigerian stock market started the week on a negative note, as the All-Share Index fell on Monday due to losses in the banking sector following the CBN’s stricter forbearance measures. The decline continued into Tuesday.
By midweek, sentiment had shifted. Banking stocks rebounded strongly, sparking a rally.
- The index surged on Wednesday and continued to rise through Friday, lifted by gains in large-cap stocks across multiple sectors.
During the week, the market broke past the 116,000, 117,000, and 118,000 levels—signaling strong upward momentum.
Key highlights
The NGX Premium Index led the charge, jumping 3.24% on the back of sharp gains in SEPLAT (+9.78%) and MTN Nigeria (+9.51%).
The NGX 30 Index advanced by 2.33%, while the NGX Main Board Index also posted a strong performance, rising by 1.89%.
Sector performance
- The NGX Oil & Gas Index led sectoral performance for the week, advancing by 5.27%, primarily driven by a 9.78% gain in SEPLAT.
- The Banking Index followed with a 3.58% increase, supported by notable gains in GTCO (+18.81%) and STANBIC IBTC (+9.64%).
- Following closely, the NGX Insurance Index rose by 2.37%, driven by a strong 13.33% performance from NEM INSURANCE PLC.
- The Consumer Goods Index also closed in positive territory, recording a 2.16% gain.
- Conversely, the Industrial Goods Index was the only sector to post a decline, shedding 0.36% over the week.
Top gainers
Leading the charge among gainers was ELLAH LAKES PLC, which climbed 23.09% week-to-date, followed by BETA GLASS PLC, up 19.43%. Other notable gainers included:
- LivingTrust Mortgage Bank Plc: up 18.88%, N6.80
- Guaranty Trust Holding Company Plc: up 18.81%, N84.95
- Meyer Plc: up 13.61%, N9.60
- NEM Insurance Plc: up 13.33%, N17.00
- Legend Internet Plc: up 11.71%, N7.92
- Presco Plc: up 11.68%, N1,100.00
- Seplat Energy Plc: up 9.78%, N5,450.00
- Stanbic IBTC Holdings Plc: up 9.64%, N87.00
Top losers
On the losers’ table, NORTHERN NIGERIA FLOUR MILLS PLC led with a 17.19% week-to-date decline, followed by SUNU ASSURANCES NIGERIA PLC, down 12.81%. Other notable losers included:
- Oando Plc: down 11.59%, N61.00
- International Energy Insurance Plc: down 9.55%, N1.61
- Omatek Ventures Plc: down 7.59%, N0.73
- VFD Group Plc: down 7.41%, N15.00
- Caverton Offshore Support Group Plc: down 7.23%, N4.36
- Red Star Express Plc: down 7.14%, N7.80
- C & I Leasing Plc: down 6.45%, N4.35
- Lasaco Assurance Plc: down 6.25%, N3.00
Corporate actions overview
It was an eventful week on the corporate front, with a flurry of announcements that kept investors engaged:
- ASO Savings and Loans Plc released its Q1 financial results.
- FirstHold, FCMB, Zenith Bank, and Fidelity Bank issued official statements to clarify their positions on the Central Bank of Nigeria’s revised forbearance policy.
- Conoil Plc published both its audited full-year 2024 results and Q1 2025 financial statements.
Sterling Bank also unveiled its Q1 2025 results.
- Sovereign Trust Insurance Plc announced the appointment of a new Board Chairman.
Market outlook
Despite a shaky start to the week, marked by weakness in banking stocks, the All-Share Index managed to close above the 118,000 mark, driven by a strong rebound in the banking sector and sustained interest in select large-cap equities.
If the buying momentum continues, particularly in mid- and large-cap stocks, the market could maintain its upward trajectory in the coming sessions, with the 120,000 level now appearing within reach.
The Nigeria capital market is improving gradually judging from the positive and sensitive responses of the investing public. The weakness of the market however is the wide gap between purchase and buy settlement of three days which to all intents and purposes should be instant with the advent of technology and Internet connectivity to make the trading more active and responsive. Kudos to SEC and the operators.