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:
Technology solutions firm NCR (Nigeria) Plc ranks 3rd with a 166.67% gain in Q3 2025, opening the quarter at N6.00 with over 70 million shares traded.
Most of the gains came in the latter part of the quarter, with a 59% surge in August that pushed the stock past N11.55, followed by a rise to N16 in September.
- Investors likely responded positively to the company’s strong turnaround, moving from a N1.4 billion H1 2024 loss to a pretax profit of N44.6 million in H1 2025.
The recovery was driven by significant cost-cutting measures, including a reduction in administrative expenses from N1.4 billion to N118.3 million, alongside a 10% drop in the cost of sales.
Year-to-date, NCR shares are up 220%.
