The Nigerian stock market started 2025 on a bullish note, with the All-Share Index (ASI) climbing 1.42% to close at 103,586.33 points. This performance reflects investor optimism fueled by strategic positioning in fundamentally strong stocks and anticipation of 2024 corporate earnings and dividends. The market’s momentum builds on an impressive 38% annual gain in 2024, highlighting the resilience of Nigerian equities despite economic challenges. Market capitalization also surged by 2.02%, adding N1.25 trillion to reach N63.17 trillion, with trading activity showing substantial growth.
Sectoral indices saw broad gains, led by the NGX-Insurance Index, which surged 26.91% due to robust performances by stocks like PRESTIGE, SOVRENINS, and CORONATION. The NGX-Consumer Goods, NGX-Banking, and NGX-Industrial Goods indices also posted gains, bolstered by investor interest in MULTIVERSE, HONYFLOUR, STERLING, and WEMABANK. However, the NGX-Oil and Gas Index declined marginally by 0.45% due to selloffs in TOTAL, ETERNA, and OANDO. Top-performing stocks for the week included PRESTIGE, up 46%, and NEIMETH, which gained 45.3%, while PZ CUSSONS led the laggards with a 13.8% loss.
Analysts at Cowry Research described the strong start as a sign of the Nigerian Exchange’s growing appeal for portfolio diversification. They noted increased investor interest in key sectors such as insurance, banking, consumer goods, and industrial goods, signaling potential for further growth. While the market sentiment remains bullish, analysts caution that short-term profit-taking may temper gains in the weeks ahead.
