The Nigerian Exchange (NGX) reversed its previous day’s losses on Wednesday, February 20, 2025, as investors gained N505 billion following a 0.87% surge in the All-Share Index (ASI). The index closed at 108,609.51 points, lifting the market capitalization to N67.8 trillion.
The recovery was driven by strong performances from key stocks, including BUA Foods, RT Briscoe, and Eterna. BUA Foods led the gainers’ chart with a 9.91% increase, closing at N410.50 per share. RT Briscoe followed with a 6.91% rise to N2.63 per share, while Eterna gained 6.25% to close at N42.50 per share. Sunu Assurances Nigeria also contributed to the rally, rising by 6.13% to N6.92 per share.
Mixed Performance Across Stocks
Despite the overall market recovery, some stocks recorded losses. University Press led the decliners with a 9.8% drop, closing at N4.60 per share. International Energy Insurance also fell by 9.8% to N2.21 per share, while Union Dicon Salt declined by 9.52% to N6.65 per share. McNichols lost 8.57%, closing at N1.60 per share.
Decline in Trading Activity
Trading activity on the NGX saw a decline compared to the previous session. A total of 343.7 million shares valued at N8.63 billion were traded in 12,970 deals. This represented a 16% drop in volume, a 23% decline in turnover, and an 8% reduction in the number of deals.
Access Holdings emerged as the most traded stock, with 65.1 million shares exchanged. Fidelity Bank followed with 50.7 million shares, while Zenith Bank and Sterling Bank recorded 22.1 million and 13.2 million shares traded, respectively.
Sectoral Performance
Sectoral performance was mixed during the trading session. The Nigerian Exchange Consumer Goods Index led the gainers, rising by 4.16%. The Nigerian Exchange Main Board Index followed with a 1.47% increase, while the Nigerian Exchange Insurance Index gained 0.29%. However, the Nigerian Exchange Oil and Gas Index remained in negative territory, losing 3.82% on a one-week basis and 4.58% year-to-date.
Market Outlook
The rebound in the NGX reflects renewed investor confidence, driven by gains in major stocks and improved market sentiment. However, the mixed performance across sectors and the decline in trading activity suggest that investors remain cautious amid ongoing economic uncertainties.
As the market continues to navigate inflationary pressures and other macroeconomic challenges, analysts will closely monitor sectoral trends and investor behavior to gauge the sustainability of the current recovery.