Nigerian Stock Market Soars by ₦1.5 Trillion in a Week as Investors Rally Behind Consumer and Industrial Stocks

Nigeria’s stock market ended the week strong, adding ₦1.51 trillion in value as investors flocked to consumer and insurance stocks.

Despite losses in oil and banking sectors, upbeat trading and naira stability fueled confidence and lifted market capitalization to ₦70.46 trillion.

The Nigerian stock market wrapped up the week on a positive note, achieving a significant gain of ₦1.51 trillion in market value. This surge was fueled by strong investor interest in consumer goods, industrial, and insurance stocks, despite some profit-taking pressures in the oil and gas, as well as banking sectors.

Market data from the Nigerian Exchange Limited (NGX) indicated that the All-Share Index (ASI) rose from 109,710.37 points the previous week to 111,742.01 points, reflecting a weekly growth of 1.05%. The market capitalization also increased, rising from ₦68.953 trillion to ₦70.462 trillion, showcasing growing investor confidence in select sectors.

The bullish sentiment in the market was evident throughout the week, with three trading sessions concluding positively, while two sessions experienced slight declines.

Sector highlights

The Oil and Gas Index experienced a decline of 3.44% due to sell-offs in that segment, and the NGX Banking Index also dropped by 1.52%. In contrast, the consumer goods sector led the rally with a 2.09% increase, spurred by strong demand from bargain hunters. The NGX Insurance and Industrial Goods Indices saw moderate gains of 0.73% and 0.72%, respectively.

Top performers (Friday, May 30, 2025)

• Omatek Ventures Plc surged by 9.86%, increasing from ₦0.71 to ₦0.78.
• Red Star Express Plc rose by 9.62%, closing at ₦8.32.
• DEAP Capital Management & Trust Plc gained 9.38%, finishing at ₦1.05.
• Sovereign Trust Insurance Plc appreciated by 9.09% to close at ₦1.08.
• May & Baker Nigeria Plc ended the session at ₦11.80, up by 8.26%.

Worst performers

• Beta Glass Plc declined by 10.00%, closing at ₦232.65.
• NCR Nigeria Plc also fell by 10.00% to ₦6.57. – Conoil Plc dipped by 9.99% to ₦298.10.
• Legendary Investments Plc decreased by 9.94% to ₦6.16.
• Industrial and Medical Gases Nigeria Plc dropped by 9.91% to ₦33.65.

Trading volume leaders

UBA Plc led the trading volume chart, with over 1.41 billion shares valued at ₦49 billion exchanged. United Capital, Access Holdings, Fidelity Bank, and Zenith Bank followed closely, each recording significant trading volumes and values.

Currency watch

The Nigerian naira demonstrated resilience over the week, appreciating by 0.09% against the US dollar in the official window, which further bolstered market optimism. The stock market’s robust finish indicates cautious optimism among investors, despite the shifting dynamics within various sectors. Analysts predict that the market will remain stable, supported by local interest and strategic investments, especially as attention turns to macroeconomic data and global market cues in the coming weeks.