The Nigerian equity market closed the first trading week of 2025 on a positive note, with the All Share Index (ASI) advancing by 0.39% to settle at 103,586.33 points.
This uptick drove the market capitalisation of equities listed on the Nigerian Exchange Limited (NGX) to ₦63.166 trillion, up from ₦62.918 trillion recorded in the previous session.
A total of 709.28 million shares valued at ₦8.24 billion changed hands in 13,593 deals. Market sentiment was bullish, with 67 gainers outperforming 11 losers.
The NGX 30 Index, which tracks the performance of the top 30 stocks, also edged up by 0.25%, closing at 3,824.51 points.
Key gainers included Sterling Bank and United Capital, while TotalEnergies Nigeria and First Bank of Nigeria Holdings (FBNH) emerged as the session’s only laggards.
Investor appetite remained robust, with turnover on the NGX witnessing a traded volume of 150.65 million units in the blue-chip NGX 30 segment alone.
Analysts attribute the rally to optimism surrounding corporate earnings expectations and improved macroeconomic indicators.
In the money market, liquidity conditions remained stable. The Overnight (O/N) rate held steady at 27.25%, while the Open Repo (OPR) rate ticked higher by 0.06% to close at 26.75%.
The foreign exchange market saw the Naira strengthen, with the dollar quoted at ₦1,534.05, improving from the previous close of ₦1,538.23. Market participants maintained bids in a narrow range between ₦1,530.50 and ₦1,539.00 per dollar, reflecting controlled volatility.
The equity market’s strong performance underscores investor confidence in Nigeria’s economic recovery as reforms under the new administration begin to take shape. The NGX’s market capitalisation has been on an upward trajectory, buoyed by sustained buying pressure in banking, industrial, and consumer goods stocks.
