The Nigerian Exchange Limited (NGX) reopened trading on an upbeat note on Monday, June 24, 2025, with a surge in investor confidence driving a significant increase in market capitalisation by ₦278 billion. The rally, primarily powered by gains in Presco and 45 other equities, pushed the All-Share Index (ASI) up by 441.43 points, closing at 118,579.65, while total market capitalisation settled at ₦74.812 trillion.
This marks a 0.37% daily growth, underscoring sustained bullish sentiment in Nigeria’s equities market amidst favourable liquidity conditions and expectations for robust Q2 earnings across key sectors.
The bullish momentum was largely driven by gains in medium- and large-cap stocks such as Presco, Beta Glass, Vitafoam Nigeria, Nigerian Aviation Handling Company (NAHCO) and NASCON Allied Industries. Each of these firms recorded notable price appreciation, reflecting strong investor appetite for fundamentally sound stocks with positive outlooks.
Presco Plc, a key player in Nigeria’s agro-industrial sector, led the gainers’ chart with a 10% price jump to close at ₦1,210 per share, as investors responded to its consistent earnings performance and positive sector outlook.
Other top gainers included Beta Glass, Champion Breweries, FTN Cocoa Processors, and Neimeth Pharmaceuticals, each rising 10% to close at ₦303.60, ₦9.02, ₦3.08, and ₦4.07 respectively. University Press and Legend Internet also gained 9.97%, closing at ₦6.62 and ₦8.71, while Ellah Lakes rose 9.94% to ₦5.81.
On the flip side, Julius Berger Nigeria Plc emerged as the worst performer, dropping 7.48% to close at ₦117.50, followed by Chams Holding, which shed 5.09% to ₦2.05. Others such as Secure Electronic Technology, Multiverse Mining, and Red Star Express also recorded declines, with losses ranging from 3.85% to 5%.
Trading activity on the NGX also experienced a significant boost, with total volume traded rising by 29.74% to 653.66 million units, valued at ₦21.33 billion, across 22,206 deals.
Fidelity Bank Plc led the activity chart, accounting for 141.71 million shares valued at ₦2.67 billion. It was followed by Zenith Bank Plc, which traded 46.26 million shares worth ₦2.35 billion, and Nigerian Breweries, which posted 38.09 million shares valued at ₦2.21 billion.
Other actively traded stocks included FTN Cocoa Processors with 37.98 million shares valued at ₦115.9 million, and Access Holdings, which moved 37.93 million shares worth ₦843.73 million.
Analysts at United Capital Plc believe the market’s bullish performance will likely continue, supported by excess liquidity and investor positioning ahead of the Q2 earnings season. Stocks with strong fundamentals, foreign exchange gains, and potential interim dividend payouts are expected to remain attractive to investors.
Similarly, Vetiva Capital stated that while positive sentiment remains strong, the potential for profit-taking in recently rallied large-cap stocks, particularly in the banking and telecommunications sectors, could temper gains in the near term. Nonetheless, rotational buying across consumer goods and industrial stocks is expected to sustain overall market optimism.
With 46 gainers against 22 losers and significant upticks in trading activity, the Nigerian capital market is once again demonstrating resilience and attractiveness amid macroeconomic challenges. Investors are advised to remain cautious but strategic, focusing on fundamentally sound equities and sector leaders poised for strong second-quarter results.