The Nigerian stock market wrapped up the first half of 2025 on a strong note, with the All-Share Index gaining 16.57% year-to-date.
This marks the sixth consecutive positive first-half performance since 2020, reaffirming investor confidence and market momentum.
The heavyweight index rose from an opening level of 102,928.6 in January to close June at 119,978.6, supported by a total market volume of 67.08 billion shares, with May and June recording the highest surge.
Behind this rally were impressive performances from mid- and large-cap stocks across major sectors, particularly in consumer goods, banking, and insurance.
Here’s a breakdown of how key sector indices performed:
NGX Consumer Goods Index (52.21%)
The standout performer of the half-year was the NGX Consumer Goods Index, which soared by 52.21%, making it the top-gaining sector in the market.
Consumer Goods Index opened the year at 1,731.7 points and closed June at 2,635.9, gaining 904.2 points.
Except for March, the index posted gains every month, with bullish momentum intensifying in the second quarter from April to June.
Top drivers included:
- Honeywell Flour Mills (+241.3%)
- Vitafoam (+221.74%)
- Champion Breweries (+162.47%)
- International Breweries (+150.45%)
- Northern Nigerian Flour Mills (+146.01%)
NGX Banking Index (18.06%)
Tracked by the NGX Banking Index, the banking sector ranked second in performance for the first half of 2025, recording a year-to-date gain of 18.06%.
The index opened the year at 1,084.5 points and climbed to 1,280.4 points by the end of June, supported by a robust trading volume of 24.6 billion shares.
While no banking stock soared over 100%, notable gains were seen in:
- Wema Bank (67.64%)
- Stanbic IBTC (47.57%)
- GTCO (+42.54%)
- Zenith Bank (+25.16%)
- Fidelity Bank (14.29%)
NGX Insurance Index (5.23%)
The NGX Insurance Index recorded a modest but positive half-year gain of 5.23%, with a total trading volume of 11.8 billion shares exchanged over the period.
The index opened the year at 719.9 points and appreciated to 755.5 points by the end of June, with June emerging as the sector’s most profitable month.
Leading the sector’s advance were:
- NEM Insurance (+63.47%)
- Linkage Assurance (+30.51%)
- Sovereign Trust Insurance (+19.64%)
- Cornerstone Insurance (+18.89%)
Each of these stocks delivered strong returns, helping to drive the sector’s overall performance.
NGX Industrial Goods Index (1.85%)
The NGX Industrial Goods Index posted a modest gain of 1.85% in the first half of 2025, ranking as the fourth-best performing sector.
Tracked by the NGX Industrial Goods Index, the sector opened the year at 3,572.2 points and inched up to 3,638.2 points by the end of June, on a market volume of 1.85 billion shares.
February stood out as the sector’s best-performing month, with the index closing in the green in three out of six months.
However, June ended in the red, slightly pulling down the sector’s overall momentum.
Top gainers in the sector included:
- Beta Glass (+414.56%)
- Berger Paints (+50.00%)
- CUTIX (+42.61%)
- Chemical and Allied Products Plc (CAP) (+34.08%)
- Lafarge Africa (+24.66%)
- Meyer Plc (+19.22%)
Despite these gains, an 8% decline in Dangote Cement, the sector heavyweight, significantly reduced overall performance.
NGX Oil & Gas Index (-10.12%)
Oil and Gas was the only major sector to close the first half of 2025 in negative territory, recording a 10.12% decline.
The index, which began the year at 2,712.1 points, fell to 2,437.5 points by the end of June, losing 274.6 points and finishing in the red for five out of six months.
While Eterna surged 76.95% and TotalEnergies posted a modest 1.00% gain, the sector’s overall performance was dragged down by losses in key players like Seplat, Aradel, and Oando.
