Nigerian Stock Market Adds N1.05 Trillion in Bullish Surge Driven by ETI, Nestle, Others

The Nigerian stock market experienced a major upswing as the Nigerian Exchange Limited (NGX) added N1.05 trillion in market capitalization in a single day, buoyed by strong investor demand for Ecobank Transnational Incorporated (ETI) and 41 other large-cap stocks. The All Share Index (ASI) rose by 1.56%, gaining 1,662.60 points to close at 108,361.10, pushing both the month-to-date and year-to-date returns higher to 2.6% and 5.3%, respectively. The day’s performance signals growing investor confidence and continued bullish momentum.

Leading the gainers’ chart were ETI, Northern Nigeria Flour Mills (NNFM), and Nestle Nigeria, all posting a maximum 10% increase in share price. Other notable gainers included Beta Glass with a 9.98% rise and Austin Laz & Company, which appreciated by 9.94%. In contrast, Guinea Insurance topped the list of decliners with an 8.70% drop, followed by DAAR Communications, VFD Group, Wapic Insurance, and Regency Alliance Insurance, which all saw losses ranging from 4.69% to 6.78%.

Despite the surge in market value, total trading volume fell by 16.45% to 475.459 million units, valued at N13.899 billion across 17,575 deals. Access Holdings led the trading activity with over 103 million shares exchanged, followed by Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), Sterling Financial Holdings, and Zenith Bank, reflecting a diversified interest in the banking sector.

Analysts at Afrinvest Limited remain optimistic about the market’s trajectory, predicting that the current rally may be sustained. This outlook is underpinned by ongoing market reassessments and positive sentiment following the release of impressive Q1 2025 earnings results across key sectors. The rece

Source: This Day