Investors Record N2.4 trillion Gain in Nigerian Stock Market
Stock market investors recorded a gain of about N2.4 trillion in the Nigerian Exchange (NGX) on Friday, as the market ended the week on a strong bullish note.
Increased and sustained investor interest in stocks such as Nestlé Nigeria, Union Dicon Salt, Infinity Trust, Mc Nicholas, Cornerstone Insurance, and 48 other advancing equities drove the market into positive territory.
Financial experts attributed the development to the continuous release of companies’ annual financial reports and the increase in equity investment cap by the National Pension Commission (PenCom) for pension fund administrators.
Market capitalisation, which opened at N114.660 trillion, rose by N2.367 trillion, or 2.06 per cent, to close at N117.027 trillion.
Similarly, the All-Share Index (ASI) gained 2.06 per cent, or 3,687.45 points, to settle at 182,313.08, up from 178,625.63 recorded on Thursday.
Consequently, the year-to-date (YTD) return climbed further to 17.16 per cent. The market breadth closed positive, recording 53 gainers and 33 losers.
Nestlé Nigeria, Union Dicon Salt, Infinity Trust, Mc Nicholas and Cornerstone Insurance led the gainers’ chart by 10 per cent each, ending the session at N2,662, N20.90, N9.90, N7.70 and N6.38 per share respectively.
Conversely, Skyway Aviation Handling Company led the losers’ chart by 10 per cent, finishing at N135, Guinness Nigeria trailed by 9.97 per cent, settling at N315, while Omatek Ventures shed by 9.39 per cent, closing at N2.99 per share.
Also, NPF Microfinance Bank fell by 6.51 per cent, ending the session at N5.60 and Etranzact dipped by 6.33 per cent, closing at N22.95 per share.
A total of 936.4 million shares valued at N52.7 billion were traded across 50,068 transactions, compared to 698.3 million shares worth N28.4 billion that was exchanged in N50,886 deals.
This revealed a 34 per cent increase in volume, 85 per cent growth in value and two per cent decline in deals. Meanwhile, First Holding Company topped the activity chart in volume with 106.3 million shares valued at N5.1 billion.
Zenith Bank followed with 72.6 million shares worth N5.7 billion while United Capital traded 45.4 million shares valued at N963.2 million.
Guaranty Trust Holding Company sold 45 million shares worth N4.9 billion and Fidelity Bank transacted 31.4 million shares valued at N639.03 million.
Commenting on the market performance, Mr Aruna Kebira, Chief Executive Officer of Globalview Capital Ltd., attributed the rally to improved corporate earnings, dividend expectations and renewed institutional interest.
Kebira said the release of impressive results by companies such as Nigerian Breweries Plc had boosted investor confidence, adding that the brewer’s performance signalled a strong recovery from the challenges of 2024.
According to him, many consumer goods companies were gradually emerging from the impact of the 2024 currency devaluation, having posted significant growth in sales and turnover in 2025.
“We are seeing companies come out of the doldrums of 2024. The surge in sales and improved earnings suggest that some of them may be in a position to declare dividends,” he said.
Kebira noted that firms such as Nestlé Nigeria Plc and Nigerian Breweries could potentially reward shareholders, given their earnings outlook.
He explained that even unaudited results often provide a reliable basis for dividend projections. “Sometimes, there is little difference between unaudited and audited accounts.
“Financial analysts can estimate dividend capacity by examining profit after tax and transfers to reserves. The balance often indicates what could be available for distribution,” he said.
On the role of pension funds, Kebira said the recent move by the National Pension Commission (PenCom) to adjust equity investment limits contributed to the bullish momentum.
“That is part of it. Pension Fund Administrators typically invest in fundamentally sound stocks and take long-term positions because they manage retirement funds with investment horizons of 10 to 15 years.
“With increased room to participate in equities, they are likely to take positions early,” he said.
He noted that the combination of improved earnings, dividend expectations and institutional participation made the market particularly exciting during the trading session. First Holdco Writes Off N27m as Bad Debt, Not N748bn
