Nigeria’s Stock Market Soars, Investors Pocket N1.8 Trillion in One Week As Dangote Applies To List

• The Nigerian stock market started the first week of June 2025 on a low note, with investors losing over N297 billion
• However, the market bounced back the next day and eventually closed the week bullish with record gains
• Despite being a 4-day trading week, the week also had the single highest daily gain ever recorded in the NGX

Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.

The first week of June was a positive one for investors in the Nigerian Stock Exchange as the market closed bullish.

Despite the 4-day trading week, the All-Share Index rose by 2.57% to settle at 114,616.75 index points, while market capitalisation grew from N70.465 trillion at the start of the week to N72.275 trillion.

This means that amid the Sallah celebrations and public holidays, investors are N1.8 trillion richer.

What is driving the growth?

The growth is partly credited to a renewed investor confidence in the stock market, amid the many reforms from the Central Bank of Nigeria.

While Wednesday, June 4, recorded the highest trading activities with a turnover of 1.46 billion shares worth N33.47 billion, the highest daily gain was recorded on Thursday, June 5, with over N1.16 trillion growth in market capitalisation.

On Monday, June 2, 517.95 million shares worth N10.07 billion were traded; on Tuesday, June 3, 622.63 million shares valued at N16.12 billion were traded; while on Thursday, June 4, 611.52 million shares valued at N16.68 billion were traded.

The NGX recorded a total turnover of 3.214 billion shares worth N76.348 billion in 64,156 deals in the first week of June 2025, slightly lower than the 3.794 billion shares valued at N119.394bn exchanged in 89,636 deals in the last week of May 2025.

Top traded stocks for the week

The financial services industry had the highest trading activities with 27,326 deals and 2.313 billion shares valued at N52.241 billion, accounting for 71.96% and 68.43% of total equity volume and value, respectively.

The second highest is the ICT sector with 301.996 million shares valued at N5.126 billion traded in 4,137 deals.

The top three traded stocks for the week accounted for 48% of total turnover volume and 45% of the total value of traded stocks, the PUNCH reports. They are;

• Fidelity Bank Plc
• Legend Internet Plc
• Guaranty Trust Holding Company Plc

Top gainers for the week

Fifty-three stocks appreciated in the first week of June 2025, and these are the top gainers.

• Oando Plc gained 25.77% to close at N56.85
• LASACO Assurance Plc gained 21.62%
• Multiverse Mining and Exploration Plc gained 20.39%
• Cornerstone Insurance Plc gained 19.51%
• First HoldCo Plc gained 17.60%

Top losers for the week

Forty-three stocks closed the week at lower prices compared to the previous week. The top losers are;

• Associated Bus Company Plc dropped by 18.64%
• Julius Berger Nigeria Plc dropped 13.5%
• Legend Internet Plc declined by 13.31%
• Livestock Feeds Plc lost 12.23%
• E-Tranzact International Plc lost 11.76%.

Analysts predict bearish Tuesday for NGX after huge gains

The week was generally a profitable week for investors, although about fifty-two stocks remained unchanged.

Analysts at Afrinvest predict that following the huge gains from last week, investors will resume on Tuesday, June 10, with profit-taking activities.

This would result in a slightly bearish market after the two-day Sallah holidays.

NGX to expand as Dangote refinery applies to list

In related news, Africa’s largest refinery is set to list on the Nigerian Stock Exchange and give Nigerians an opportunity to buy in.

The NGX Chairman, Umaru Kwairanga, confirmed that the refinery has already applied and commenced the listing process.

Kwairanga hailed the move, noting that it would help to further expand the Nigerian bourse and give more people the opportunity to invest in the company.

Source: Legit.ng