Nigerian Stock Market Opens June Strong, Investors Pocket N179 Billion Amid Renewed Confidence

The Nigerian stock market opened June with a bullish run as investors gained ₦179 billion, fueled by renewed interest in undervalued stocks and optimism over upcoming corporate earnings.

Key performers like Multiverse and Livestock Feeds led the rally, while mixed analyst outlooks suggest cautious optimism ahead, with Q2 earnings and policy signals guiding investor sentiment.

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The Nigerian stock market kicked off June with strong momentum, as investors pocketed a hefty ₦179 billion in gains on Monday, June 2, 2025, setting an optimistic tone for the new month.

Market sentiment was boosted by renewed interest in undervalued stocks, early positioning for second-quarter earnings, and expectations of corporate dividend announcements.

According to data released by the Nigerian Exchange Limited (NGX), the All-Share Index (ASI) rose from 111,742.01 points to 112,026.24 points, while market capitalisation surged from ₦70.462 trillion to ₦70.641 trillion. The performance signals a positive outlook for the equities market, following weeks of cautious trading.

Investor confidence rebounds

Market capitalization, which reflects the total value of all listed companies’ outstanding shares, serves as a key measure of investor sentiment. When it rises, as it did on Monday, investors see their holdings appreciate. The latest gains were led by demand for stocks seen as undervalued or with strong financial fundamentals.

Top performers: Multiverse, livestock feeds lead the rally

Among the day’s top gainers was Multiverse Mining and Exploration Plc, which gained ₦0.75 to close at ₦8.35 per share, a 9.87% increase. Livestock Feeds Plc followed closely with a gain of ₦0.90, moving from ₦9.40 to ₦10.30 per share, a 9.57% rise. Other notable gainers included:

• Lasaco Assurance Plc: Up ₦0.21 to ₦2.80 (+8.11%)
• Neimeth International Pharmaceuticals Plc: Up ₦0.25 to ₦3.35 (+8.06%)
• Royal Exchange Plc: Up ₦0.06 to ₦0.86 (+7.50%)

Key losers: Legendary Investments and ETranzact drag the index

However, the bullish trend did not extend to all corners of the market. Legendary Investments Plc was the worst performer, shedding ₦0.61 to close at ₦5.55, a 9.90% decline. Other laggards included:

• Nigerian Soft Technologies Plc: Down ₦0.06 to ₦0.55 (-9.84%)
• Etranzact International Plc: Down ₦0.65 to ₦6.15 (-9.56%)
• Universal Paints Plc: Down ₦0.55 to ₦5.35 (-9.32%)
• Mcnichols Plc: Down ₦0.19 to ₦2.41 (-7.31%)

Market Activity Snapshot

The day’s trading saw 17,019 deals, with a total volume of 517.95 million shares exchanged, valued at ₦10.07 billion. The healthy trading volume underscores rising investor participation at the start of the month.

Analysts offer mixed outlook for the week

Market analysts are cautiously optimistic. In its weekly report, United Capital Research predicted modest gains driven by high liquidity and early positioning for Q2 earnings. The firm noted rising interest in companies with strong foreign exchange gains, cost efficiency, and interim dividend potential.

On the other hand, Vetiva Research expects a mixed performance, citing low trading volumes and a lack of major market catalysts.

“As June begins, the market may experience a mixed start with portfolio rebalancing and expected dividends offering short-term support,” it noted.

Similarly, Futureview Research expressed a cautiously bullish sentiment.

“We anticipate a mixed performance in the equities market this week, with a modest bullish bias supported by anticipated buying activity,” its note read.

Looking ahead

As June progresses, investor attention will likely shift towards Q2 earnings previews and updates from the Central Bank of Nigeria. Barring any external shocks or policy surprises, analysts suggest the current positive sentiment could continue, albeit with intermittent pullbacks.