The Nigerian All-Share Index (ASI) ended the trading week of April 17, 2025, in the red, falling by 329.53 points or 0.32% to close at 104,233.81 points. This downturn was largely driven by steep losses in the banking sector, despite a modest rebound in the NGX Premium Index.
Market capitalization also dropped to ₦65.4 trillion from ₦65.7 trillion the previous week, as the market hovered around the ₦65 trillion threshold. Weekly trading activity weakened significantly, with volume plummeting by 27% from 2.09 billion shares to 1.5 billion shares.
Despite the decline, market breadth slightly improved. A total of 31 equities appreciated during the week, up from 27 in the previous week, while 44 equities declined, compared to 56 last week. Meanwhile, 72 equities remained unchanged.
The ASI began the week on a muted note, dipped on Monday, and posted modest gains on Tuesday. However, a sharp decline on Wednesday pulled the index below the 104,000-mark, before it recovered slightly on Thursday. Markets were closed on Friday for a public holiday.
NGX Premium Index rose by 0.57%, buoyed by strong performances from ACCESSCORP and MTNN, which both gained over 7%.
NGX-Main Board Index and NGX 30 Index fell by 0.17% and 0.41%, respectively.
Banking: The NGX Banking Index took the hardest hit, plunging 5.43%. Losses were led by GTCO (-13.24%) and ZENITHBANK (-11.91%), with STANBIC and UBA also shedding over 4%.
Insurance: The NGX Insurance Index declined by 2.34%, driven by heavy losses in INTERNATIONAL ENERGY INSURANCE (-9.76%) and MUTUAL BENEFITS ASSURANCE (-9.57%).
Consumer Goods: The NGX Consumer Goods Index gained 2.33%, powered by a 9.65% surge in UNILEVER NIGERIA.
Oil & Gas: The NGX Oil and Gas Index inched up by 0.20%.
Industrial Goods: The NGX Industrial Goods Index closed flat.
Top Gainers (Week-to-Date)
ABBEY MORTGAGE BANK PLC – +46.17%
NIGERIAN BREWERIES PLC – +13.13%
ASSOCIATED BUS COMPANY PLC – +12.70%
LIVESTOCK FEEDS PLC – +11.24%
UNILEVER NIGERIA PLC – +9.65%
VFD GROUP PLC – +9.46%
ECOBANK TRANSNATIONAL INC. – +8.94%
WEMA BANK PLC – +8.64%
LEARN AFRICA PLC – +8.33%
ACCESS HOLDINGS PLC – +8.07%
Top Losers (Week-to-Date)
GTCO – -13.24%
ZENITH BANK PLC – -11.91%
DAAR COMMUNICATIONS PLC – -11.11%
CAVERTON OFFSHORE SUPPORT GROUP PLC – -10.63%
R T BRISCOE PLC – -10.38%
INDUSTRIAL & MEDICAL GASES NIGERIA PLC – -10.00%
NIGER FLOUR MILLS PLC – -9.97%
INTERNATIONAL ENERGY INSURANCE PLC – -9.76%
MUTUAL BENEFITS ASSURANCE PLC – -9.57%
C & I LEASING PLC – -9.17%
Several companies released key financial disclosures during the week:
DAAR COMMUNICATIONS PLC published its 2024 audited financials.
ACCESS HOLDINGS PLC declared a final dividend alongside its full-year 2024 results.
NIGERIAN BREWERIES PLC released its Q1 2025 financials.
FIRST HOLDCO PLC published its Q5 2024 financial results.
UPDC PLC also released its audited 2024 results.
The All-Share Index continues to hover below the 105,000 mark, suggesting the market remains in a retracement phase. However, improved sentiment in select sectors and declining bearish momentum compared to the prior week suggest the potential for a near-term rebound.
Sustained gains in large- and mid-cap stocks may offer the necessary traction for a broader market recovery in the weeks ahead.