Stock market soars with N3.9 trillion gain in May 2025

By Abubakar Yunusa

Investors in Nigeria’s stock market recorded a remarkable N3.966 trillion gain in May 2025, defying global economic uncertainties driven by ongoing trade wars, according to data from the Nigerian Exchange Limited (NGX).

The NGX market capitalisation, reflecting the total value of listed stocks, surged from N66.496 trillion in April to N70.662 trillion by the end of May.

The NGX All-Share Index (ASI), a key market indicator, climbed 5.6 percent, closing at 111,742.01 basis points, up from 105,800.62 points in April.

Market analysts attributed the rally to bolstered domestic investor confidence and resilient market sentiment, though they urged caution for future trading sessions.

Week-on-week, the NGX ASI rose by 2.5 percent, with market capitalisation increasing by N1.7 trillion, pushing year-to-date returns to 8.6 percent.

Airtel Africa’s ongoing $10 million share buy-back programme significantly lifted market performance, analysts noted.

Gains in major stocks, including BUA Foods (up 5.3 percent), MTN Nigeria (up 3.7 percent), and Transcorp Hotel (up 6.5 percent), further supported the market’s upward trend.

Trading activity showed mixed results, with a 3.5 percent decline in trading volume week-on-week, contrasted by a 59.6 percent rise in trading value.

Sectoral performance was largely positive, with the Consumer Goods Index gaining 3.8 percent, Insurance Index 1.0 percent, Banking Index 0.7 percent, and Industrial Goods Index 0.3 percent. The Oil & Gas Index, however, fell by 2.1 percent.

Cordros Research analysts projected cautious optimism for the coming week, citing global trade tensions and the influence of macroeconomic updates and corporate developments on market direction.

InvestData Consulting Limited analysts noted that Nigeria’s equities market reflects growing investor confidence and risk appetite, while remaining sensitive to global oil market dynamics and policy signals.