On May 29, 2025, the Nigerian Exchange (NGX) extended its bullish run, with market capitalization rising by N187 billion to N70.6 trillion from N70.4 trillion, driven by strong investor sentiment and increased trading activity. The All-Share Index (ASI) climbed 296.39 points, or 0.27%, to close at 111,902.61, reflecting a one-week gain of 2.08%, a four-week increase of 5.64%, and a year-to-date return of 8.72%. Trading volume surged 25% to 512.17 million shares, valued at N17.12 billion across 16,711 deals, a 73% rise in turnover compared to the previous session. At the current exchange rate of N1,579/$1 as of May 29, 2025, the N187 billion gain equates to approximately $118.43 million.
Market breadth was positive, with 39 gainers and 28 losers among 128 equities traded. University Press and Learn Africa led gainers, each up 10% to N5.61 and N4.51, respectively, followed by Northern Nigeria Flour Mills (+9.98% to N130.55) and Honeywell Flour (+9.95% to N21). Academy Press topped losers, dropping 10% to N4.05, with Abbey Mortgage Bank (-9.96% to N6.87) and Skyway Aviation Handling (-9.94% to N59.80) also declining. Japaul Gold led trading volume with 58.9 million shares, followed by Fidelity Bank (48.2 million) and Custodian & Allied Insurance (37.5 million).
Sectoral performance was mixed, with the Consumer Goods Index up 0.96%, Insurance Index gaining 0.46%, and Oil & Gas Index rising 0.24%. The Premium and Pension Indices increased by 0.41% and 0.25%, respectively, though the Insurance and Oil & Gas Indices remained negative year-to-date, down 4.07% and 8.85%. The rally follows a previous session where the NGX surpassed N70 trillion, fueled by interest in heavyweights like Airtel Africa, as reported by The PUNCH. Posts on X highlight sustained bullish sentiment, with @MobilePunch noting the N187 billion gain, aligning with broader optimism about forex market liberalization boosting investor confidence.
