 gained N259bn on the second trading day of the week, with a 0.37% rise in the All-Share Index){kind=link}
The Nigerian Exchange Limited (NGX) witnessed a significant rally on Tuesday, June 4, 2025, as bullish investor sentiment propelled the market capitalisation to a fresh high of N70.9 trillion, marking a N259 billion increase from the previous day’s close. This positive momentum on the second trading day of the week signals sustained confidence in Nigerian equities amid broader macroeconomic optimism.
The market’s benchmark All-Share Index (ASI) rose by 411.52 points, or 0.37%, to settle at 112,427.48, further boosting the exchange’s year-to-date return to 9.23%. Over a four-week period, the ASI has appreciated by 3.75%, reflecting consistent demand for stocks in key sectors including banking, consumer goods, and industrials.
Market activity remained vibrant, with 622.6 million shares traded across 17,044 deals, representing a 20% increase in volume and a 60% jump in turnover compared to the previous session. The total transaction value reached N16.12 billion, reinforcing the bullish narrative driving the market this week.
Skye Shelter Fund led the gainers’ chart with a 10% surge, closing at N226.60 per share, while Honeywell Flour Mill and SCOA Nigeria Plc also posted 10% gains, ending the day at N22.00 and N5.39, respectively. Notably, Industrial and Medical Gases Nigeria Plc appreciated by 9.96% to close at N37.00.
However, the rally was not universal. Conoil Plc recorded the steepest loss of the day, declining by 10% to close at N268.30. Other significant laggards included Learn Africa (-9.98%), Transcorp Hotels (-9.97%), and Julius Berger Nigeria (-9.94%), as some investors opted to take profits following recent rallies.
Fidelity Bank emerged as the most actively traded stock by volume, recording 108 million shares, followed by Legend Internet (61 million), United Bank for Africa (55.7 million), and Guaranty Trust Holding Company (41.2 million).
The rally was broad-based, with all major sectoral indices closing in the green:
Banking Index: +1.36%
Premium Board Index: +1.06%
Consumer Goods Index: +1.05%
Industrial Index: +0.96%
Insurance Index: +0.93%
The positive sectoral performance underscores investor confidence in Nigerian corporates, driven by improved earnings outlooks and macroeconomic stabilization, particularly with the Central Bank of Nigeria maintaining tight monetary policy to support the naira and tame inflation.
According to analysts at Meristem Securities, the gains are supported by “strong corporate earnings, investor bargain-hunting in undervalued stocks, and a cautiously optimistic outlook on Nigeria’s economic reforms under the current administration.”
Market watchers also credit the recent surge to the increasing involvement of institutional investors and retail traders seeking safe havens amid global market uncertainties. The relatively attractive valuation of Nigerian equities continues to drive inflows, particularly in banking and consumer-facing companies.
On Monday, the NGX had already set the tone for the week with a N173 billion gain, and Tuesday’s performance solidifies a bullish trajectory. Should the momentum persist, market participants believe the NGX may retest its previous all-time highs in the coming weeks.
With two consecutive days of strong performance and over N430 billion in combined gains, the Nigerian Exchange is off to a robust start in June 2025. As investors closely monitor upcoming monetary policy decisions and economic data releases, the market’s trajectory will largely depend on sustained investor confidence, corporate earnings strength, and macroeconomic stability.