Nigerian Stocks Hit Record 148,000 Points as NSLTECH, Sterling Drive Bullish Momentum

The Nigerian stock market continued its bullish run on Wednesday, October 16, 2025, as the All-Share Index (ASI) soared beyond the 148,000-point threshold for the first time in history. The ASI climbed 612.8 points or 0.41% to close at 148,355.1, compared to 147,742.2 in the previous session. The impressive rally underscores renewed investor confidence amid strong corporate earnings expectations and sustained market liquidity.

Market capitalization also advanced, gaining roughly ₦400 billion to settle at ₦94.1 trillion, up from ₦93.7 trillion recorded on Tuesday. Trading activity showed an uptick in investor participation, with total volume traded rising to 432 million shares across 23,665 deals, compared to 388 million shares exchanged in the previous session. Analysts attributed the upbeat momentum to renewed interest in mid- and large-cap stocks ahead of third-quarter financial reports.

On the gainers’ chart, NSLTECH led with a surge of 7.06% to close at ₦0.91, followed by Sterling Financial Holdings (STERLINGNG), which advanced 6.49% to ₦8.20. Other top performers included Livestock Feeds (+5.33%), TIP (+5.18%), and May & Baker (+4.99%). Conversely, SUNU Assurance and HMCALL suffered the heaviest losses, dropping 9.71% and 7.53% respectively, reflecting mild profit-taking in select sectors.

The activity chart was dominated by CONHALLPLC and ACCESSCORP, with trading volumes of 40.9 million and 40.3 million shares, respectively. GTCO, ZENITHBANK, and TANTALIZER also featured among the top five most traded stocks. In terms of value, GTCO led with ₦2.57 billion, followed by ARADEL (₦2.52 billion), ZENITHBANK (₦1.7 billion), NESTLE (₦1.3 billion), and MTNN (₦1.06 billion). Meanwhile, high-cap stocks—popularly known as SWOOTs (Stocks Worth Over One Trillion Naira)—closed mixed, with DANGCEM, LAFARGE, and INTERNATIONAL BREWERIES posting notable gains.

As the market maintains a bullish tone, analysts expect the uptrend to persist in the short term, driven by anticipation of strong Q3 results and renewed foreign investor inflows. The Nigerian Exchange (NGX) continues to benefit from robust sentiment in the banking and industrial sectors, setting the stage for potential record highs before year-end. With year-to-date gains standing at 44.14%, the NGX remains one of the best-performing equity markets in Africa.

source: nairametrics