The NGX Lotus Islamic Index recorded 8.56% increase, emerging as the best-performing index for Q1 2025, outperforming the NGX All-Share Index (ASI), which gained 2.66%.
In Q1 2024, the index had a remarkable 37.19% growth and eventually closed the year with a 50.56% year-to-date (YtD) growth.
Following the NGX Lotus Islamic Index, the NGX Afriinvest Value Index recorded a YtD growth of 7.26%, closing Q1 2025 at 2,646.53 basis points, although this was a decline from the 9.85% growth achieved in Q1 2024.
The NGX Banking Index and NGX Corporate Governance Rating System (CGRS) saw increases of 6.96% and 6.93%, respectively.
Additionally, the NGX Meristem Growth Index rose by 6.77% YtD, closing on March 28, 2025, at 6,930.25 basis points.
Compared to Q1 2024, growth across the indices has been more tempered in Q1 2025. This could be due to several factors, including investors cashing in on their gains from the previous year and locking in profits after a strong 2024.
This profit-taking behavior may have led to increased selling pressure, reducing demand for stocks and limiting further upward momentum in Q1 2025.
Market Performance
According to available statistics from Nairametrics, the All-Share Index (ASI), which measures the performance of Nigerian stocks, opened the first quarter of 2025 at 102,926.40 index points. By the end of March 28, 2025, it had gained 2,734.24 basis points, closing at 105,660.64 points, representing a 2.66% increase.
Further analysis revealed that the Nigerian Exchange Limited (NGX) opened the quarter at a market capitalization of N62.76 trillion in January 2025 and closed at N66.27 trillion, earning a quarter-to-date gain of approximately N3.5 trillion.
NGX Lotus Islamic Index Performance
Data sourced from the Nigerian Exchange Limited and tracked by Nairametrics shows that the NGX Lotus Islamic Index stood out among all other indices, growing by 8.56%. It concluded the quarter at 7,551.18 index points, up from the opening value of 6,955.89 points in January 2025.
What You Should Know
The NGX Lotus Islamic Index (NGX LII) tracks the performance of 15 Shari’ah-compliant equities that meet the eligibility requirements of a renowned Shari’ah Advisory Board.
- The constituent stocks are rigorously screened and reviewed bi-annually to ensure their continuous compliance for inclusion. The index is based on the market capitalization methodology.
- The NGX Lotus Islamic Index tracks the performance of 11 listed companies in various sectors, including CAP, Dangote Cement, NAHCO, NASCON, Okomu Oil, WAPCO, Aradel, BUA Cement, BUA Foods, Jaiz Bank, and MTN Nigeria.
The average YtD return of these stocks stands at 14.82%, with NASCON leading the pack with a YtD gain of 46.76%, followed by NAHCO with 45.28%.
