The Nigerian stock market commenced trading for the week on a bullish note, with gains in Presco Plc and 45 other equities driving overall market capitalization up by ₦278 billion on June 23, 2025. This positive performance reflects renewed investor confidence and strategic positioning ahead of the second quarter earnings season.
The All Share Index (ASI) gained 441.43 points, representing a 0.37% growth to close at 118,579.65 points. Correspondingly, market capitalization rose by ₦278 billion to close at ₦74.812 trillion, marking a significant milestone for Africa’s largest economy’s capital market.
The market upturn was driven by gains recorded in medium and large capitalized stocks, including Presco, Beta Glass, Vitafoam Nigeria, Nigerian Aviation Handling Company (NAHCO), and NASCON Allied Industries. These blue-chip companies continue to attract institutional and retail investors seeking stable returns amid economic uncertainties.
United Capital Plc provided an optimistic outlook for market performance, stating: “The equities market might continue in its upward trend leading to a slight gain in the ASI. This is hinged on the market benefiting from the excess liquidity in the financial system.” The investment firm attributed the positive momentum to increased liquidity and strategic investor positioning.
Market sentiment remained broadly positive, as reflected by strong market breadth with 46 stocks recording gains against 22 losers. Beta Glass, Champion Breweries, FTN Cocoa Processors, Neimeth International Pharmaceuticals, and Presco recorded the highest price gains of 10% each, closing at ₦303.60, ₦9.02, ₦3.08, ₦4.07, and ₦1,210.00 respectively per share.
University Press and Legend Internet followed with gains of 9.97% each to close at ₦6.62 and ₦8.71 respectively, while Ellah Lakes rose by 9.94% to close at ₦5.81 per share. These impressive performances highlight investor appetite for companies with strong fundamentals and growth potential.
However, not all stocks participated in the rally. Julius Berger Nigeria led the losers’ chart with a 7.48% decline to close at ₦117.50 per share. Chams Holding Company followed with a 5.09% decline to ₦2.05, while Secure Electronic Technology fell 5.00% to 57 kobo per share.
Trading activity surged significantly, with total volume advancing by 29.74% to 653.657 million units, valued at ₦21.327 billion and exchanged in 22,206 deals. This increased activity suggests growing investor participation and market liquidity.
Fidelity Bank topped the activity chart with 141.710 million shares valued at ₦2.665 billion, demonstrating strong investor interest in the banking sector. Zenith Bank followed with 46.255 million shares worth ₦2.347 billion, while Nigerian Breweries traded 38.092 million shares valued at ₦2.209 billion.
United Capital advised investors to focus on fundamentally sound stocks, particularly those positioned to benefit from foreign exchange gains and cost control measures. “We advise investors to cherry pick fundamentally sound stocks with potential for interim dividend payment,” the firm stated.
The positive market performance comes amid expectations of improved corporate earnings for Q2 2025, with investors positioning themselves for companies likely to announce quality interim dividend payments. Financial analysts project that corporates with FX gains, effective cost management, and clear growth trajectories will outperform in the coming quarter.
Market experts attribute the bullish sentiment to several factors including improved macroeconomic indicators, increased foreign portfolio investment, and regulatory reforms that have enhanced market transparency and investor protection. The Securities and Exchange Commission’s ongoing initiatives to deepen capital market participation have also contributed to increased trading volumes.
Looking ahead, the market is expected to maintain its upward trajectory, supported by excess liquidity in the financial system and strategic investor positioning ahead of earnings announcements. However, analysts caution investors to remain selective and focus on companies with strong fundamentals and sustainable business models.
The week’s positive start reinforces Nigeria’s capital market as a key investment destination in Africa, attracting both domestic and international investors seeking exposure to the continent’s largest economy. With ongoing reforms and improved corporate governance, the market continues to mature and offer attractive returns to long-term investors.
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