The Nigerian stock market began the week on a strong note, posting a N369 billion gain, with the Nigerian Exchange Limited All-Share Index (NGX ASI) rising by 588.43 basis points or 0.56%. This positive momentum led to a market capitalization of N66.189 trillion. As of now, the market is down by 2.1% Month-to-Date but up by 2.6% Year-to-Date, indicating mixed performance so far in 2025.
The market sentiment remained positive, with 25 stocks gaining and 22 stocks losing. Royal Exchange led the gainers, appreciating by 10% to close at 88 kobo per share. Livestock Feeds and Abbey Mortgage Bank also recorded notable gains, increasing by 9.87% and 9.72%, respectively. In contrast, NEM Insurance, United Capital, and CWG were among the worst performers, posting losses of 9.63%, 9.29%, and 6.67%, respectively.
Total trading volume surged by 10.90% to 440.52 million units, valued at N10.47 billion, across 10,182 deals. Zenith Bank dominated trading activity, with 55.06 million shares valued at N2.61 billion, followed by FCMB Group and United Bank for Africa (UBA) in trading volume and value. Other notable stocks, such as Access Holdings and Fidelity Bank, also saw significant trading activity.
Looking ahead, United Capital Plc expects the equities market to see a slight improvement as investors prepare for the 2024 full-year earnings season and corporate action announcements. However, the elevated interest rate environment in the fixed-income market could continue to drive bearish sentiment in the background.
source: this day