The Nigerian All-Share Index wrapped up the trading week ended December 24, 2025, in positive territory, gaining 1,482.45 points as large-cap stocks like International Breweries, First HoldCo, and Guinness advanced.
From Monday to Wednesday, the market rose 0.97% week-to-date to 153,539.83 from 152,057.28, despite lower trading volume, as Thursday and Friday are Christmas holidays.
As a result, the index is up 6.98% month-to-date in December, with quarter-to-date and year-to-date gains of 7.59% and 49.17%, respectively.
Volume and breadth
Market participation declined during the week, with total traded volume of 2.8 billion shares across 80,229 deals, compared with 9.8 billion shares in the previous week.
Equity capitalization, however, mirrored the upward market movement, rising to N97.89 trillion from N96.9 trillion in the prior week.
- In terms of market breadth, 44 equities appreciated in price during the week, down from 55 in the previous week.
- On the flip side, 30 equities depreciated, also lower than the 36 equities recorded a week earlier.
Market overview
The market opened for just three days, from Monday to Wednesday, as the Federal Government declared Thursday and Friday public holidays to commemorate Christmas.
On Monday, the index gained 401.7 points to close at 152,459.1.
The bullish momentum strengthened on Tuesday, rising 0.59%, and by Wednesday the market reached 153,539.8.
Key highlights
The NGX Premium Index declined by 0.51% despite the broader market rally, largely due to a 5.21% drop in MTN Nigeria Communications Plc.
In contrast, the NGX 30 and NGX Main Board indices advanced, posting gains of 0.96% and 1.74%, respectively.
Sectoral performance
Leading sectoral performance was the NGX Consumer Goods Index, which rose 3.34%, supported by large-cap INTERNATIONAL BREWERIES, up 20.83%. GUINNESS NIGERIA PLC also gained 9.98%.
Following closely, the NGX Banking Index advanced 2.93%, mainly driven by FIRST HOLDCO PLC, which surged 17.91%.
The NGX Industrial Goods Index rose 1.17%, led by AUSTIN LAZ & COMPANY PLC, which jumped a remarkable 32%. Cement stocks BUA CEMENT and LAFARGE also gained 2.94% and 0.75%, respectively.
The NGX Oil & Gas Index closed flat at 0.00%, while the Insurance Index declined 2.13%, weighed down by over 7% losses in NEM Insurance and AXA Mansard Insurance.
Top gainers
Leading the pack was ALUMINIUM EXTRUSION INDUSTRIES PLC, which surged 32.39% week-to-date to close at N16.35, marking a standout performance.
AUSTIN LAZ & COMPANY PLC followed closely, gaining 32.23% to end the week at N3.20.
Other major gainers included:
- International Breweries Plc: up 20.83% to N14.50
- Mecure Industries Plc: up 18.55% to N65.20
- First HoldCo Plc: up 17.91% to N53.00
- FTN Cocoa Processors Plc: up 15.38% to N5.10
- International Energy Insurance Plc: up 14.54% to N2.60
- Ikeja Hotel Plc: up 11.63% to N36.95
- Guinness Nigeria Plc: up 9.98% to N318.60
- Eunisell Interlinked Plc: up 9.94% to N87.95
Top losers
On the flip side, LEGEND INTERNET PLC led the laggards, shedding 11.71% week-to-date to close at N4.90. CHAMPION BREWERY PLC followed with an 11.50% decline, finishing the week at N15.00.
Other notable decliners were:
- NEM Insurance Plc: down 8.37% to N24.10
- AXA Mansard Insurance Plc: down 7.14% to N13.00
- Associated Bus Company Plc: down 6.57% to N3.27
- Ellah Lakes Plc: down 6.45% to N13.05
- Prestige Assurance Plc: down 6.17% to N1.52
- MTN Nigeria Communications Plc: down 5.21% to N504.00
- DAAR Communications Plc: down 4.26% to N0.90
- Regency Assurance Plc: down 3.96% to N0.97
Corporate actions overview
The week saw a handful of corporate disclosures and sector-wide developments:
- Fidson Healthcare launched a N21 billion rights issue, offering 600 million ordinary shares at N35 each.
- The Deputy Managing Director of FirstHoldCo’s banking subsidiary, First Bank of Nigeria Limited, acquired 12 million shares.
- PZ Cussons published its half-year 2025 financial results.
- Neimeth’s major shareholder, Clinoscope Services Limited, sold 515.3 million shares following the stock’s recent bull run.
Market outlook
The All-Share Index is edging closer to a potential return to the 155,000-point level, supported by sustained bullish momentum that has lifted the market above the 153,500 threshold.
If buying interest broadens across more equities, the market could push beyond this level, shifting focus to possible new highs above 155,000 points.
