The Nigerian stock market ended the week on a high note, posting a N513 billion increase in market capitalization despite a shortened trading schedule due to public holidays for Eid-el-Kabir and Democracy Day. The Federal Government declared June 9 and June 12, 2025, as holidays, limiting trading on the Nigerian Exchange Limited (NGX) to three days. Nevertheless, bullish investor sentiment drove the All-Share Index up by 0.71% to 115,429.54 points, with market capitalization rising from N72.275 trillion to N72.788 trillion.
Trading Activity Overview
During the three-day trading week, investors exchanged 2.057 billion shares valued at N51.015 billion across 65,016 deals. This marked a decline from the previous week’s 3.214 billion shares worth N76.348 billion in 64,156 deals. The financial services sector dominated, contributing 51.55% of equity turnover volume (1.060 billion shares) and 51.69% of value (N26.371 billion) in 27,201 deals. The services sector followed with 490.276 million shares worth N1.586 billion in 3,865 deals, while the consumer goods sector recorded 122.795 million shares valued at N5.841 billion in 7,638 deals.
Tantalizer Plc, Access Holdings Plc, and Zenith Bank Plc led trading by volume, accounting for 693.553 million shares worth N9.957 billion in 7,661 deals, representing 33.72% of volume and 19.52% of value.
Exchange Traded Products and Sector Performance
In the Exchange Traded Products segment, 24,880 units worth N8.881 million were traded in 92 deals, compared to 46,729 units valued at N8.391 million in 89 deals the previous week. Sectoral performance was mixed, with gains across most indices except for Insurance (-0.11%), AFR Div Yield (-0.61%), MERI Value (-0.81%), Oil & Gas (-1.22%), and Commodity (-1.41%). The ASeM and NGX Banking indices remained unchanged.
Market breadth reflected positive sentiment, with 55 stocks gaining value compared to 39 decliners, an improvement over the prior week’s 53 gainers and 43 losers. Fifty-four stocks remained unchanged, up slightly from 52.
Key Market Developments
The NGX suspended trading in Notore Chemical Industries Plc shares on June 11, 2025, to facilitate the company’s approved delisting. In dividend announcements, Industrial & Medical Gases Nigeria Plc declared an N0.80 per share dividend and a 1-for-10 bonus, with an ex-dividend price of N32.91. Japaul Gold and Ventures Plc announced an N0.04 dividend with an ex-dividend price of N1.96, while Dangote Cement Plc declared a N30.00 per share dividend with an ex-dividend price of N420.00.
Outlook
Analysts anticipate continued bullish momentum in the coming week, driven by strong performances in blue-chip stocks and renewed interest in financial services. However, potential macroeconomic challenges could influence market dynamics. Despite a reported N378 billion market value loss after the holiday break, the week’s overall gains signal resilience in Nigeria’s capital market.
