Nigeria’s stock market experienced a notable rally on Wednesday, April 23, 2025, increasing by 0.53 percent, or N342 billion, as investors showed strong interest in banking and consumer goods stocks. Despite some sell-offs in the insurance and oil & gas sectors, the market benefitted from the performance of stocks such as VFD Group, Africa Prudential, Learn Africa, and ABC Transport. The positive movement defied analysts’ predictions of a quieter trading period.
The market has gained 1.03 percent this week, signaling a robust performance in the face of expectations for subdued buy activity. Investors participated actively, with 744,802,985 shares exchanged across 11,226 deals, valued at N18.28 billion. Prominent stocks that saw significant trading volumes included Fidelity Bank, GTCO, Universal Insurance, and Access Holdings.
Stocks such as ABC Transport, VFD Group, Learn Africa, and Africa Prudential showed strong gains, with ABC Transport rising by 9.86 percent to N1.56, VFD Group increasing by 9.62 percent to N17.10, and Learn Africa climbing 9.54 percent to N3.56. Africa Prudential also rose by 8.63 percent to N15.10, contributing to the overall market rally.
At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) stood at 105,283.67 points, up from 104,739.61 points the previous day. The equities market capitalisation increased to N66.159 trillion, reflecting the overall upward movement in the stock market. This growth highlights investor optimism despite ongoing pressures in other sectors like insurance and oil & gas.
Source: Business day