The Nigerian equities market started the week on a positive note, with the All-Share Index (ASI) posting a 0.48% gain on April 22, 2025.Â
This rally, led mainly by brewing companies and sustained activity in bank stocks, indicates renewed investor optimism despite a slight drop in market volume.
At the close of Monday’s trading session, the ASI rose by 497.21 points to settle at 104,739.61—up from the previous session’s 104,242.40. This marks a steady upward correction toward the 105,000 mark, reflecting improved sentiment and a shift in interest toward high-performing sectors.
Market Cap Rises as Breweries Lead the Charge
Alongside the index, market capitalization advanced to ₦65.8 trillion, up from ₦65.4 trillion recorded at the end of the previous session. The market value increase was driven by substantial gains in the consumer goods sector, particularly among brewing companies.
International Breweries and Nigerian Breweries stood out as the session’s top performers. International Breweries surged by a maximum of 10% to close at ₦6.05, while Nigerian Breweries followed closely, jumping 9.94% to end the day at ₦39.80. Other strong performers included TIP (+9.89%), Japaul Gold (+9.79%), and Cornest (+9.65%).
On the downside, IntEnEgins and NSL Tech experienced steep losses, declining by 9.46% and 8.93%, respectively. UPL, FTN Cocoa, and WAPIC also closed in the red, rounding out the list of laggards.
Banking Stocks Dominate Trading Volume
Banking stocks once again dominated market activity in terms of volume and value. Access Holdings (ACCESSCORP) led the pack with 38.6 million shares traded, followed closely by Fidelity Bank (FIDELITYBK) with 34.5 million shares. Chams recorded 29.6 million shares in turnover, while Univinsure and Zenith Bank posted 27.7 million and 23.7 million shares, respectively.
In terms of trading value, Zenith Bank took the lead, recording ₦1.07 billion worth of transactions. ACCESSCORP followed with ₦875.1 million, while FIDELITYBK and GTCO contributed ₦651.8 million and ₦579.1 million, respectively. Nigerian Breweries added ₦473.5 million to the total value traded, underlining investor confidence in the brewery sector.
Sector Highlights: SWOOT and FUGAZ Stocks Show Strength
Among the SWOOT (Stocks Worth Over One Trillion) group, WAPCO recorded a 0.70% gain, reflecting moderate bullish sentiment in the industrial sector.
The FUGAZ banking group—which includes Nigeria’s top-tier banks—showed impressive gains across the board. First Bank Holdings (FIRSTHOLD) rose by 3.46%, UBA by 2.80%, and ACCESSCORP by 2.49%. Zenith Bank advanced 2.27%, while GTCO gained 1.69%.
Market Outlook: Signs of a Gradual Recovery
The Nigerian stock market appears to be entering a short-term correction phase as the ASI edges closer to 105,000. Renewed interest in large- and mid-cap stocks—especially in the financial and consumer goods sectors—could help maintain upward momentum in the coming weeks.
As investor confidence continues to improve and earnings season progresses, traders are expected to focus on value-driven opportunities, particularly in resilient sectors like banking and consumer goods.
