Market Watch: Nigerian Stock Market Rises 2,708 Points on Banking Sector Recovery

The Nigerian stock market concluded the week ending June 20, 2025, with a significant increase, as the All-Share Index (ASI) rose by 2,708.68 points, driven by robust gains in SEPLAT, MTN, and GTCO. This represents a 2.35% increase for the week, with the index advancing from 115,429.54 to 118,138.22, indicating a four-week bullish trend. The trading volume in the market surged to 3.5 billion shares, reflecting a 73.9% increase from the previous week’s 2.05 billion shares. Additionally, market capitalization increased to N74.5 trillion from N72.7 trillion in the preceding week. 

Market Performance

The market’s performance was propelled by substantial gains in various stocks. ELLAH LAKES PLC experienced a week-to-date increase of 23.09%, followed by BETA GLASS PLC, which rose by 19.43%. Other significant gainers included LivingTrust Mortgage Bank Plc, which increased by 18.88%, and Guaranty Trust Holding Company Plc, up by 18.81%. Conversely, NORTHERN NIGERIA FLOUR MILLS PLC topped the list of losers with a week-to-date decline of 17.19%, followed by SUNU ASSURANCES NIGERIA PLC, which fell by 12.81%.

The NGX Oil & Gas Index outperformed other sectors with a gain of 5.27%, primarily due to SEPLAT’s impressive increase of 9.78%. The Banking Index saw an advancement of 3.58%, bolstered by GTCO’s significant rise of 18.81% and STANBIC IBTC’s gain of 9.64%. Additionally, the NGX Insurance Index experienced a rise of 2.37%, propelled by NEM INSURANCE PLC’s strong performance of 13.33%.

Market Outlook

Although the week began on a shaky note, characterized by a decline in banking stocks, the All-Share Index successfully closed above the 118,000 threshold, thanks to a robust recovery in the banking sector and ongoing interest in select large-cap equities. Should the buying momentum persist, especially in mid- and large-cap stocks, the market may sustain its upward trend in the upcoming sessions, with the 120,000 level now appearing attainable.

Several key corporate actions took place during the week:

●      ASO Savings and Loans Plc announced its Q1 financial results.

●     Major banks, including FirstHold, FCMB, Zenith Bank, and Fidelity Bank, released statements clarifying their stance on the Central Bank of Nigeria’s revised forbearance policy.

●     Conoil Plc published its audited full-year 2024 results and Q1 2025 financial statements, providing insight into the company’s financial performance.

The performance of the Nigerian stock market has been affected by a range of factors, such as the policies of the Central Bank of Nigeria and trends in the global market. As the market progresses, investors will be monitoring closely for indications of future growth and possible challenges.