Nigerian Equities Market Posts Modest Gains as Trading Value Soars 83%

Nigeria’s equities market extended its upward trajectory on Tuesday, May 14, 2025, as the NGX All-Share Index (ASI) climbed 0.27% to close at 109,059.33 points, buoyed by a surge in trading volumes and value. Market capitalisation also edged higher, settling at ₦68.54 trillion.

Investor appetite remained firm as total transaction value skyrocketed by 83.72% to ₦19.81 billion, despite a marginal 0.31% decline in the number of deals, which stood at 14,870. Trading volume saw a healthy 6.58% jump to 531.29 million shares.

McNichols, NNFM, Champion Top Gainers Table

The bullish sentiment was reflected in the performance of several key stocks. McNichols led the pack of gainers, rising by 10% to ₦1.76, followed closely by Northern Nigeria Flour Mills (NNFM), which also appreciated by 10% to ₦99.55. Other notable performers included Champion Breweries, which gained 9.91% to ₦6.10; Caverton Offshore, up 9.78% to ₦4.04; and FTN Cocoa, which climbed 9.65% to ₦2.50.

Multiverse, Legend, VeritasKap Among Major Decliners

Conversely, Multiverse led the losers’ chart with a steep 9.63% decline to ₦9.85. Legend International and Veritas Kapital followed suit, falling 5.41% and 4.76% respectively. Transcorp Plc and Ikeja Hotel also retreated, dropping 4.65% and 3.75%.

GTCO, AccessCorp Dominate Market Activity

In terms of activity, GTCO emerged as the most traded stock by volume, exchanging 53.27 million shares valued at ₦3.68 billion across 553 deals. Access Holdings followed with 51.9 million shares worth ₦1.1 billion, while Fidelity Bank, Nigerian Breweries, and Zenith Bank rounded off the top five most active stocks by volume.

At the other end of the spectrum, ENAMELWA, Airtel Africa, and SEPLAT recorded the smallest trading volumes, with ENAMELWA trading just five shares.

Market Outlook

Analysts at Cowry Research noted that the improved market turnover is a positive signal of renewed investor interest, particularly in bellwether banking and consumer goods stocks. However, they cautioned that profit-taking in select sectors might create intermittent pullbacks.

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