In the third quarter of 2025, the Nigerian stock market put on a strong show, with the All-Share Index returning 18.95% to investors.
The index opened the quarter at 119,980.4 points and gained 22,731.9 points to close at 142,710.5.
This was the market’s best quarter of the year so far, and the third strongest since 2020, behind only the 39.84% rally of January 2024 and the 50.05% surge in October 2020.
Although every month ended in the green, July carried most of the weight, driving a strong 16.57% gain as sectors across the board rallied.
- By performance, the NGX Insurance Index led with a 57.65% surge in Q3, followed by Industrial Goods at 39.32%.
- Consumer Goods climbed 27.89%, Banking advanced 18.25%, while Oil and Gas closed with a modest 3.51% gain.
With the broader market on a roll, the spotlight now turns to the top 10 stocks that fueled the rally.
Here they are:
Mutual Benefits Assurance Plc tops the list with an impressive 248.18% gain in Q3 2025, reflecting strong investor confidence and robust sector momentum.
Company shares opened the quarter at N1.10, with 1.23 billion traded, and closed at N3.83. The bulk of the surge occurred in August, when the stock jumped 114%, marking the best month of the quarter.
September saw a modest 1.79% decline, but the stock maintained its lead, making Q3 the company’s strongest quarter so far in 2025.
- H1 2025 results likely contributed to the bullish sentiment, showing insurance revenue up 44.58% to N41.1 billion, premiums rising 38.09% to N47.2 billion, and claims nearly doubling to N22 billion.
Year-to-date, the stock is up 498%, solidifying its position as the top-performing stock in 2025.
