The Nigerian stock market maintained its bullish momentum on Tuesday, May 6, 2025, gaining N1.045 trillion on the Nigerian Exchange Ltd. (NGX). Market capitalization rose by 1.56% to N68.105 trillion from N67.060 trillion on Monday, while the All-Share Index (ASI) climbed 1,662.60 points, or 1.56%, to close at 108,361.10, up from 106,698.50. The rally was fueled by strong investor interest in medium and large-cap stocks, particularly in the banking sector, including Access Corporation, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA).
Market breadth was positive, with 42 gainers outpacing 25 losers. Ecobank Transnational Incorporated (ETI) and Northern Nigeria Flour Mills led the gainers, each rising 10% to close at N25.85 and N82.50 per share, respectively. Nestlé Nigeria also surged 10% to N1,210, while Beta Glass gained 9.98% to N132.80, and Austinlaz rose 9.94% to N1.88. On the losers’ side, Guinea Insurance fell 8.70% to 63 kobo, DAAR Communications dropped 6.78% to 55 kobo, VFD Group declined 6.59% to N17.00, WAPIC Insurance shed 6.07% to N2.01, and Regalins lost 4.69% to 61 kobo.
Trading activity saw 475.46 million shares valued at N13.899 billion exchanged in 17,575 deals, down from 569.041 million shares worth N18.934 billion in 18,612 deals on Monday. Access Corporation led the volume chart with 103.92 million shares traded for N2.2 billion, followed by GTCO with 37.99 million shares at N2.422 billion, UBA with 30.73 million shares worth N1.04 billion, Sterling Bank Nigeria with 27.176 million shares at N147.24 million, and Zenith Bank with 26.18 million shares valued at N1.234 billion. The sustained market uptrend reflects growing investor confidence, particularly in banking and consumer goods stocks.
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