The Nigerian stock market closed the week on a positive note, as the All-Share Index (ASI) of the Nigerian Exchange (NGX) rose by 0.27% to settle at 106,042.57 points. This upward movement was driven by renewed investor confidence spurred by strong Q1 2025 earnings reports and the ongoing dividend season, which prompted a wave of bargain-hunting across key sectors.
Market capitalisation mirrored this trend, gaining 0.28% to reach ₦66.65 trillion. Analysts attributed the gains primarily to heightened buy-side interest in the consumer goods sector, where companies such as FIDSON, CADBURY, and MAYBAKER posted impressive earnings that attracted significant investor attention.
The market also witnessed an improvement in breadth, with 52 stocks recording gains compared to 36 losers, reflecting a more optimistic market tone. According to Cowry Asset Management, the NGX’s year-to-date return climbed to 3.03%, further reinforcing bullish sentiment in the equities market.
Trading activity picked up considerably, with the total number of deals rising by 36.86% to 70,329. Volume of shares traded increased by 18.63% to 2.19 billion units, while the total value of transactions rose 34.60% to ₦75.41 billion, indicating robust participation from both institutional and retail investors.
However, sectoral performance presented a mixed picture. The consumer goods and industrial goods sectors posted gains of 2.89% and 0.40% respectively. Conversely, the oil and gas sector led the decliners, falling by 2.90% due to losses in stocks such as ARADEL. The insurance sector also dipped by 2.89%, weighed down by declines in LINKASSURE, GUINEAINS, and SUNUASSURE. The commodities index shed 1.12%, while the banking sector lost 0.38%, with ACCESSCORP and ETI among the underperformers.
Among individual stocks, LEGEND INTERNET stood out with a staggering 45.6% gain, followed closely by ABCTRANS at 44.9%. Other top performers included FIDSON, UPL, and NAHCO, which all posted gains exceeding 20% for the week. On the downside, ETI emerged as the worst performer with an 18.8% loss, followed by MULTIVERSE, LIVESTOCK, ARADEL, and TRIPPLE GEE.
Looking ahead, analysts at Cowry Asset Limited maintained a positive outlook for the market, projecting that the ongoing earnings season and dividend declarations will continue to drive sentiment. They also noted that any upcoming economic data or policy statements could further shape market direction. The firm advised investors to adopt a selective buying strategy focused on fundamentally sound equities with strong earnings potential and resilience in the current macroeconomic climate.
 of the Nigerian Exchange (NGX) rose by...){kind=link}