- Nigerian Stock Market Gains Momentum, Nears N69 Trillion Market Cap
- All-Share Index Records Positive Close Driven by Consumer Goods Stocks
The Nigerian stock market demonstrated resilience and positive momentum in the trading session concluding on May 15, 2025, as the All-Share Index (ASI) recorded a notable increase. This upward trajectory reflects renewed investor confidence and positive price action across key sectors.
Market Performance Overview
The ASI closed at 109,467.64 points, marking a significant gain of 408.31 points or 0.37% from the previous trading day's close of 109,059.33. This steady climb propels the market capitalization closer to the N69 trillion mark, settling at N68.8 trillion across a total of 14,743 deals, a rise from the N68.5 trillion recorded in the prior session. The day also witnessed a substantial surge in trading volume, reaching 729.8 million shares, a considerable jump from the 531.2 million shares traded on the previous day.
Top Performers and Underachievers
Leading the pack of gainers were stocks in the consumer goods sector. HONEYWELL FLOUR and NESTLE both recorded the maximum permissible daily gain of 10.00%, closing at N16.50 and N1331.00 per share, respectively. Other significant gainers included BETAGLAS (up 9.98%), NPFMCRFBK (up 9.81%), and NEIMETH (up 9.77%).
Conversely, some stocks experienced downward pressure. MULTIVERSE led the losers with a decline of 9.64% to close at N8.90, followed by WAPIC, which shed 4.74% to settle at N2.01. Other notable losers included LASACO (down 4.53%), MAYBAKER (down 3.82%), and AIICO (down 3.61%).
Activity and Value Drivers
In terms of trading volume, FCMB emerged as the most actively traded stock with an impressive 273 million shares changing hands. FIDELITY BANK followed with a solid volume of 43.4 million shares. CAVERTON also attracted significant investor interest, with 35 million shares traded. AIICO and FTNCOCOA recorded notable volumes as well, with 33.8 million and 26.3 million shares traded, respectively.
Regarding the value of trades, MTNN topped the chart with transactions worth N3.4 billion. FCMB followed closely with a turnover of N2.5 billion. ZENITHBANK recorded a trading value of N1.1 billion, while FIDELITY BANK posted N896.7 million. NESTLE rounded out the top value trades with N722.1 million.
SWOOTs and FUGAZ Analysis
Performance among the SWOOTs (Stocks Worth Over One Trillion Naira) was mixed. TRANSCORP HOTELS stood out with a gain of 6.19%, while LAFARGE AFRICA recorded a modest increase of 0.32%.
Within the FUGAZ group of prominent banks, ACCESSCORP showed positive movement, advancing by 2.56%. However, UBA experienced a slight dip of 0.14%, and GTCO also edged lower by 0.07%. FIRSTHOLD and ZENITHBANK remained stable with no change in their share prices.
Market Outlook
The Nigerian stock market has demonstrated a strong recovery, successfully reclaiming the 109,000 level on the All-Share Index after a brief dip in the preceding week. The sustained positive momentum, particularly observed in mid- and large-cap stocks, suggests a promising outlook for the market. Analysts anticipate that continued gains in these key segments could provide the necessary impetus to propel the ASI even higher in the upcoming trading sessions, potentially driving the market capitalization beyond the N69 trillion mark.