Stock Market Gains N1.69tn as Trading Volume

The Nigerian equity market ended the past trading week on a strong bullish note, with investors collectively gaining a substantial N1.69 trillion in market capitalization. The Nigerian Exchange Limited (NGX) saw robust investor participation, fueled by renewed confidence, impressive sectoral performances, and improving corporate transparency.

According to data released by the NGX, total market turnover for the week stood at 2.645 billion shares valued at N77 billion traded in 86,110 deals, surpassing the 2.200 billion shares worth N75.4 billion exchanged in 70,329 deals the week before. The market capitalization rose sharply from N66.647 trillion to N68.339 trillion, while the All-Share Index (ASI) climbed to 108,733.40 points, sustaining its positive trajectory.



The Financial Services sector dominated trading activity, accounting for 1.638 billion shares worth N45.825 billion across 37,843 deals. This represents 61.90% of total volume and 59.51% of the total value traded for the week.

Trailing the financial sector was the Services Industry, with 364.653 million shares exchanged for N2.909 billion in 7,760 deals, while the Consumer Goods sector secured the third spot with 190.221 million shares worth N6.771 billion in 10,595 deals.


Guaranty Trust Holding Company Plc, Access Holdings Plc, and Tantalizer Plc were the most traded equities, jointly accounting for 839.689 million shares worth N27.737 billion in 8,898 deals. Their trades represented 31.74% of total turnover volume and 36.02% of total value.

The week also saw nearly all NGX indices closing in green, except for the NGX MERI Growth Index, which dipped by 0.15%. The NGX ASeM Index remained unchanged.


On the Exchange Traded Products (ETP) front, a total of 26,367 units valued at N6.753 million were traded in 88 deals, a significant drop from 1.039 million units worth N43.613 million traded the previous week. The bond market, however, recorded an uptick, with 169,476 bond units worth N175.3 million exchanged in 30 deals, up from 6,327 units valued at N5.689 million in 15 deals.


Investor sentiment was largely positive, with 68 equities appreciating in price, higher than the 52 recorded the previous week. On the downside, 28 equities declined, compared to 37 from the week prior, while 52 stocks remained unchanged.

Leading the gainers’ chart was Multiverse Mining and Exploration Plc, which rose by 57.48%, moving from N6.35 to N10.00. Academy Press Plc followed with a 50.52% gain, while Beta Glass Plc jumped 46.31% to close at N160.65. Other notable risers included The Initiates Plc and International Energy Insurance Plc, which rose by 34.95% and 31.88%, respectively.

Conversely, Abbey Mortgage Bank Plc topped the losers’ chart, shedding 15.66% to close at N7.00. Meyer Plc and Veritas Kapital Assurance Plc declined by 13.51% and 10.81%, respectively, while VFD Group Plc and Transcorp Power Plc fell by 10.61% and 9.98%.


In a related development, the NGX announced the suspension of trading in the shares of Golden Guinea Breweries Plc, effective May 6, 2025. The company failed to file its unaudited financial statements for the period ending December 31, 2024, prompting the NGX to enforce Rule 3.1 of the Default Filing Rules. The suspension will remain until the required financials are submitted.


Despite occasional dips in turnover and volume, analysts say the sustained upward movement in the market highlights rising investor confidence, especially in financial and consumer-driven sectors. There is also growing interest in sustainable investing, with many institutional players prioritizing corporate governance and earnings transparency.

The Nigerian Exchange continues to be buoyed by favorable macroeconomic trends and sectoral performances, offering optimistic projections for the weeks ahead.