Nigeria’s Equities Market Roars Back with ₦229 Billion Gain in Five Hours
LAGOS, Nigeria – April 28, 2025
Nigeria’s stock market opened the week with a dramatic rebound, reversing a three-week losing streak as investors gained ₦229 billion in the first five hours of trading. The bullish surge, driven by renewed confidence in consumer goods, insurance, and banking stocks, marked one of the most significant single-day rallies this year.
Market Performance Highlights
- All-Share Index (ASI): Jumped by 363.57 points (0.34%) to close at 106,116.18, up from 105,752.61 on the previous Friday.
- Market Capitalization: Rose to N66.693 trillion, adding N228 billion in value by Monday’s close.
- Trading Volume: Surged to 500.59 million shares worth N12.11 billion across 17,637 deals, a sharp increase from Friday’s 428.08 million shares.
Sector Leaders and Top Gainers
- Consumer Goods: International Breweries (+10%), Cadbury Nigeria (+9.96%), and Nascon Allied Industries led the charge.
- Insurance: AIICO Insurance and Cornerstone Insurance saw renewed investor interest.
- Banking: Fidelity Bank and UBA dominated trading volumes, with Access Corp leading at 60.87 million shares.
- Top Performers:
- International Breweries: Closed at N8.47 (+10%).
- Legend Internet Plc: Gained 9.97% to N7.50.
- Fidson Healthcare: Rose 9.95% on strong Q1 2025 earnings optimism.
Drivers of the Rally
- MTN Nigeria Surge: Investor optimism ahead of MTN’s Q1 2025 results (due April 29) fueled trading, with shares hitting a three-month high.
- Macroeconomic Sentiment: Improved forex liquidity and stabilizing inflation (down to 24.08% as of March 2025) boosted confidence.
- Sector Rotation: Funds flowed into undervalued consumer goods and insurance stocks after weeks of profit-taking in banking shares.
Context and Market Recovery
The rally reversed a three-week downtrend that saw the ASI drop below 104,500 in mid-April. Last week’s 1.46% gain (April 21–25) set the stage for Monday’s surge, with the ASI now eyeing the 107,000 resistance level.
Expert Analysis
- Taiye Olayemi (Financial Analyst):“This rebound reflects pent-up demand in blue-chip stocks. Investors are pricing in stronger Q1 corporate earnings and policy stability under the Tinubu administration.”
- Trading Economics Forecast: The ASI is projected to reach 104,854 by June 2025, but Monday’s rally suggests potential upside revisions.
Decliners and Risks
While 64 equities gained, 16 declined, led by Livestock Feeds (-10%) and Aradel Holdings (-9.86%). Analysts caution that profit-taking could emerge near the 107,000 psychological threshold
