NGX Market Gains N186bn Amid Bullish Sentiment, Consumer Goods and Banking Stocks Lead Rally

Investors at the Nigerian Exchange (NGX) recorded significant gains on Wednesday, May 15, 2025, as market sentiment turned bullish, lifting market capitalization by N186bn. This upbeat trading session was primarily driven by buying interest in major sectors such as consumer goods, banking, and oil and gas. The All-Share Index (ASI) rose by 296.72 points, or 0.27 percent, closing at 109,059.33 points, with the total market capitalization increasing from N68.4tn to N68.6tn.

Market activity saw a notable boost, with 531.3 million shares traded in 14,870 deals, valued at N19.81bn. This marked a 7 percent rise in volume and an 84 percent jump in turnover compared to the previous session. The year-to-date return for the market also improved to 5.96 percent, indicating growing investor confidence and an improving trading environment.

Market breadth was positive with 34 stocks recording gains, compared to 24 losers out of 128 equities traded. Northern Nigeria Flour Mills led the gainers with a 10 percent increase, closing at N99.55 per share. Other strong performers included McNichols (10%), Champion Breweries (9.91%), and Caverton Offshore (9.78%). On the flip side, Multiverse Mining and Exploration topped the losers’ list with a 9.63 percent drop to N9.85.

In terms of trading volume, Guaranty Trust Holding Company (GTCO) led the pack with 53.3 million shares, followed by Access Holdings (51.9m), Fidelity Bank (40.5m), and Nigerian Breweries (35.8m). These figures underscore continued investor interest in the banking and consumer goods sectors, which have remained central to market momentum in recent sessions.

Sectoral indices also reflected the bullish mood, with the Consumer Goods Index posting the highest gain at 2.91 per cent. The Oil and Gas Index rose by 0.75 per cent, while the Banking Index gained 0.58 per cent. Other indices like the Main Board, Top 30, and Insurance also recorded modest gains. This performance follows a strong close on Tuesday where the market gained N315bn, largely supported by rallies in Oando, Chellarams, and Transcorp.

Source: Punch