The Nigerian Exchange (NGX) concluded the trading week on Friday, May 16, 2025, with bullish momentum, as the All-Share Index (ASI) climbed by 976.97 points. This rise, driven predominantly by gains in the consumer goods sector, propelled the ASI from 108,733.40 to a new level of 109,710.37, reflecting a week-on-week increase of 0.90%.
Despite a marginal decline in trading activity, with total volume dipping 1.49% to 2.60 billion shares from the previous week’s 2.64 billion, market sentiment remained positive. The NGX market capitalization also saw a notable surge, expanding from N68.3 trillion to N68.9 trillion—maintaining a firm hold above the N68 trillion benchmark.
Market Breadth and Investor Sentiment
Market breadth tilted in favor of the bulls, with 61 equities appreciating in value, a slight decline from the 68 that gained in the previous week. Conversely, 31 equities experienced price declines, up from 28 previously, while 56 securities maintained their previous closing prices.
Trading Week Overview
The equities market posted gains on four out of five trading sessions, reversing Monday’s tepid start when the ASI dipped to 108,467.98. The remainder of the week, however, witnessed a robust rebound led by sustained investor interest and positive earnings outlooks.
Index Performance Highlights
- The NGX Premium Index slipped marginally by 0.05%.
- The NGX 30 Index advanced by 0.83%.
- The NGX Main Board Index recorded a notable 1.74% weekly rise.
Sectoral Round-Up
The Consumer Goods sector emerged as the standout performer, with the NGX Consumer Goods Index rallying 4.08% week-to-date. This surge was spurred by significant price jumps in CHAMPION BREWERIES and NORTHERN NIGERIAN FLOUR MILLS, both of which posted gains exceeding 30%.
Other sectoral highlights include:
- NGX Insurance Index: +2.47%, driven by CORNERSTONE INSURANCE’s over 15% rise.
- NGX Banking Index: +1.19%, boosted by a 10% increase in ACCESSCORP.
- NGX Oil & Gas Index: +0.66%.
- NGX Industrial Goods Index: +0.13%.
Top Performing Stocks
BETA GLASS PLC led the top gainers with a 46.31% increase. Other noteworthy performers include:
- CHAMPION BREWERIES: +42.08%
- Caverton Offshore: +37.70% to N4.20
- FTN Cocoa Processors: +36.32% to N2.59
- Northern Nigerian Flour Mills: +32.49% to N119.90
- NPF Microfinance Bank: +32.31% to N2.58
- Neimeth Pharmaceuticals: +26.28% to N3.70
- May & Baker Nigeria: +25.74% to N12.70
- Chellarams Plc: +25.48% to N13.05
- McNichols Plc: +24.71% to N2.12
Biggest Decliners
MULTIVERSE MINING AND EXPLORATION PLC led the laggards, shedding 19.50%. Other top decliners were:
- UNION DICON SALT PLC: -11.83%
- Nigerian Aviation Handling Co: -9.64% to N75.00
- University Press Plc: -8.90% to N4.40
- Legend Internet Plc: -6.67% to N8.40
- International Energy Insurance: -6.59% to N1.70
- Dangote Sugar Refinery: -4.76% to N38.00
- AIICO Insurance: -4.19% to N1.60
- Deap Capital Mgmt: -2.94% to N0.99
- First Holdco Plc: -2.73% to N24.95
Corporate Developments
- Airtel Africa commenced the second tranche of its share buy-back initiative.
- Stanbic IBTC announced resolutions from its Annual General Meeting, including dividend approvals.
- John Holt also disclosed AGM resolutions to the NGX.
- International Breweries announced significant board changes.
Market Outlook
With the ASI now above the 109,500 threshold, analysts anticipate the market may test the 110,000 mark in the coming sessions. Continued investor appetite in large and mid-cap stocks could propel the index to fresh highs in the weeks ahead.
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