Nigeria’s equity market closed the month of June on a bullish note, gaining a whopping N5.32 trillion in market capitalisation, driven by heightened investor interest and increased liquidity across sectors. The surge reflects continued investor optimism despite a slight pullback on the final trading day of the month.
Data from the Nigerian Exchange Limited (NGX) show that the All-Share Index (ASI) dipped marginally by 17.19 points on Monday, June 30, settling at 119,978.57 points, representing a negligible 0.01% loss. However, the broader picture remains positive, with the ASI achieving a weekly gain of 1.18%, a monthly gain of 7.22%, and a strong year-to-date return of 16.57%.
The market capitalisation soared to N76 trillion, a substantial jump from N70.68tn recorded at the end of May 2025. Analysts attribute the impressive rally to sustained foreign inflows, renewed domestic participation, and positive earnings outlooks from key sectors such as banking, consumer goods, and insurance.
Trading volume was impressive on the final day of the month, with 1.42 billion shares valued at N43.30 billion exchanged in 25,171 deals. This marks a 127% increase in volume, 239% increase in turnover, and a 15% rise in deals compared to the preceding session.
Market sentiment was slightly positive, with 32 gainers outperforming 31 losers.
Among the top gainers were:
Computer Warehouse Group Plc, which rose 10% to close at N12.65.
Caverton Offshore Support Group Plc (up 9.96%)
Neimeth International Pharmaceuticals Plc (up 9.93%)
FTN Cocoa Processors Plc (up 9.91%)
Meyer Plc (up 9.84%)
Wapic Insurance Plc (up 9.66%)
On the losers’ table:
Learn Africa Plc led with a 10% drop to N4.59.
Julius Berger Nigeria Plc fell by 9.97%.
C & I Leasing Plc and Thomas Wyatt Plc also recorded significant declines.
Oando Plc led in volume with 371 million shares worth N19.87 billion, while Access Holdings Plc followed with 328 million shares valued at N7.22 billion. Other active stocks included UAC of Nigeria Plc, Ellah Lakes Plc, and Caverton Offshore.
In terms of value traded, Nestlé Nigeria Plc and Zenith Bank Plc topped the list with N1.66 billion and N1.24 billion, respectively.
Sectoral Performance
Sector performance was mixed:
The NGX Consumer Goods Index rose 0.79%.
The NGX Insurance Index gained 0.69%.
Conversely, the NGX Oil & Gas Index dipped 0.29%, and the NGX Premium Index lost 0.36%.
The impressive June rally was largely attributed to renewed investor confidence following the Central Bank’s continued efforts to stabilize the foreign exchange market and improve liquidity in the financial system. Market watchers also note that banking stocks, especially Zenith Bank, Access Holdings, and Fidelity Bank, have been pivotal in driving market gains.
Financial analysts remain cautiously optimistic for Q3 2025. According to Bismarck Rewane, CEO of Financial Derivatives Company, “The NGX is benefitting from improving macroeconomic fundamentals, lower inflation trajectory, and reforms in the power and oil sectors. However, sustained growth depends on policy consistency and security improvements.”
As Nigeria’s equity market looks to maintain its bullish momentum, all eyes will be on corporate earnings, macroeconomic indicators, and the fiscal strategies to address revenue shortfalls and inflationary pressures.
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