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:
Guinness Nigeria Plc, the brewing giant, takes 9th place with a 108.98% gain in Q3.
The stock opened at N88, traded 41.4 million shares, and closed at N183.90.
September was its best month, surging 41.46%, while July and August also ended in the green on solid fundamentals.
- Financially, Guinness swung from a N73.6 billion loss in 2024 to a pretax profit of N27.9 billion for the year ended June 30, 2025.
- Revenue jumped 65.82% to N496.6 billion, while finance expenses fell sharply.
The turnaround reflects its restructuring under the Tolaram Group, which acquired 58.02% from Diageo.
Year-to-date, the stock is up more than 161%.
