Nigerian Exchange Surges in 2025, Demonstrating Robust Investor Confidence
The Nigerian Exchange Limited (NGX) has experienced a remarkable surge in its market capitalisation during 2025, signalling a robust return of investor confidence and a revitalised interest in the equities sector. Year-to-date, the total market capitalisation has seen a substantial increase of N36.46 trillion, underscoring the positive trajectory of the Nigerian stock market.
The year commenced with promising activity. On Thursday, January 2, 2025, trading opened with a market capitalisation of N62.92 trillion and an All-Share Index (ASI) standing at 103,180.14 points. This initial valuation set a positive tone for the subsequent months. By the end of February, specifically on Friday, February 28, 2025, the market had already demonstrated significant growth. The market capitalisation had climbed to N67.19 trillion, while the ASI advanced to 103,780.14 points. This steady upward momentum throughout the first two months of the year highlighted the sustained strength and resilience of the equities market.
More recent data from the latest trading session indicates that the NGX’s total market capitalisation has reached an impressive N99.2 trillion. During this period, a total of 1.23 billion shares, valued at N35.13 billion, were transacted across 27,872 individual deals. While this represents substantial activity, it is worth noting a comparative decline in market activity when measured against the preceding trading day. Trading volume experienced a fall of 74 per cent, turnover decreased by 10 per cent, and the number of deals executed dropped by 20 per cent. This suggests a brief consolidation phase after a period of intense trading.
Market Performance and Key Movers
The market breadth for the session closed on a positive note, a testament to the broad-based nature of the gains. Out of the 128 listed equities that participated in trading, a significant 47 recorded price appreciations. Conversely, only 16 stocks ended the session with negative returns.
Among the top performers, Aluminium Extrusion Industries took the lead, registering a remarkable 9.9 per cent increase in its share price to close at N21.65. Following closely were Austin Laz and Company, Meyer Plc, and C and I Leasing. These companies demonstrated strong gains, with Austin Laz and Company appreciating by 9.82 per cent, Meyer Plc by 9.75 per cent, and C and I Leasing by 9.6 per cent, respectively. Their performance indicates strong investor appetite for these specific counters.
On the other side of the spectrum, Neimeth International Pharmaceuticals emerged as the top loser, experiencing a decline of 9.38 per cent and closing at N5.80 per share. Other notable decliners included Tantalizers, which shed 6.72 per cent, International Breweries, which dropped by 4.44 per cent, and NPF Microfinance Bank, which lost 3.13 per cent. These movements highlight the inherent volatility within specific sectors and individual stock performances.
Trading Activity Breakdown
In terms of trading volume, Chams Plc dominated the activity charts, with an extraordinary 710.28 million shares exchanged. This significant volume suggests considerable investor interest, potentially driven by specific corporate news or market sentiment. Zenith Bank followed with a substantial 58.76 million shares traded, with Access Holdings and FCMB Group also recording high volumes of 57.60 million and 44.06 million shares, respectively.
When analysing the value of transactions, Aradel Holdings led the pack, with deals worth an impressive N9.52 billion. Seplat Energy also saw substantial activity, with transactions valued at N7.12 billion. Zenith Bank rounded out the top three in terms of value, recording deals worth N3.67 billion. These figures indicate where the significant capital flows are being directed within the market, often reflecting the market capitalisation and liquidity of these listed entities. The sustained growth and dynamic trading activity observed on the NGX in 2025 are indicative of a maturing market and a positive outlook for Nigerian equities.
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