The Nigerian Exchange (NGX) ended the trading week on a mixed performance as market activity on Friday, May 16, 2025, saw a sharp drop in volume and turnover, despite gains in the benchmark index and a positive market breadth.
At the close of trading on Friday, investors exchanged a total of 431.78 million shares valued at N8.60 billion, across 16,400 deals. This represents a 41% drop in volume and a 38% decline in turnover when compared to Thursday’s session. However, the number of deals showed a modest increase of 11%, pointing to sustained investor interest despite the lower turnover.
The market capitalization of the Nigerian Exchange stood at N69 trillion, with the NGX All-Share Index (ASI) gaining 242.71 points, or 0.22%, to close at 109,710.35 points. On a weekly basis, the ASI advanced by 0.9%, adding to a 4-week gain of 4.93% and a year-to-date growth of 6.59%**.
Market Breadth Favors Gainers
Out of the 130 equities that participated in the day’s trading, 36 recorded price gains while 21 declined, reflecting a bullish market breadth.
Northern Nigeria Flour Mills led the gainers’ chart with a full 10% surge closing at N119.90 per share. Other top gainers include Honeywell Flour Mill, Champion Breweries, and Trans-Nationwide Express, all recording the maximum daily increase of 10% each.
On the flip side, International Energy Insurance topped the laggards with a 9.57% drop, closing at N1.70. It was trailed by Multiverse Mining & Exploration (-9.55%), The Initiates Plc (-7.86%), and University Press Plc (-7.37%).
High Volume Trades Driven by Banking and Insurance Stocks
In terms of volume, Access Holdings topped activity with 32 million shares traded, followed closely by Guaranty Trust Holding Company (GTCO) with 30.9 million shares, AIICO Insurance (28.9 million shares), and Universal Insurance(25 million shares).
Sectoral Indices Post Broad-Based Gains
Sectoral indices closed broadly in the green, reinforcing a cautiously optimistic outlook for the market:
NGX Insurance Index was the top gainer, rising 1.1%, with a weekly gain of 2.47%, although it remains down 6.27% year-to-date
NGX Consumer Goods Index advanced 0.46%, reflecting growing investor confidence in the sector, with a robust 29.6% YTD return.
NGX Premium Index gained 0.45, though slightly negative on a weekly basis (-0.05%), while delivering 7.09% YTD growth
NGX Banking Index increased by 0.44%, marking a 1.19% weekly gain and 8.24% growth year-to-date.
NGX Industrial Index added 0.43%, showing marginal weekly improvement but still lagging year-to-date with a 4.58% return.
NGX Top 30 Index rose 0.15%, adding to a 0.83% weekly gain and 6.24% YTD gain.
Outlook
Despite the dip in market volume and turnover, the bullish close of the All-Share Index and broad-based sectoral gains suggest resilient investor sentiment. Analysts say market participants are increasingly positioning for value stocks and dividend plays, especially in the banking, insurance, and consumer goods segments.
With a steady trajectory in the benchmark index and improving market participation, attention will now shift to macroeconomic developments and Q2 corporate earnings, which could further shape the market’s direction in the coming weeks.
