NGX banking index leads activity chart as stock market posts weekly gains

THE Nigerian Exchange (NGX) experienced vibrant trading activity in the first week of June 2025, with the NGX Banking Index emerging as the top performer.

The index led gains across the market, driven by renewed investor confidence and increased interest in banking stocks, reflecting optimism around the sector’s growth outlook.

Sector-wise, the Financial Services industry maintained its dominance on the activity chart, accounting for 2.13 billion shares valued at N76.35 billion traded in 36,458 deals. This represented 71.96 per cent of the total trading volume and 68.43 per cent of the total market value. The ICT sector followed, with 302 million shares exchanged for N5.03 billion in 4,137 deals.

Out of the twenty-one indices tracked during the week, twenty posted gains, with the NGX Banking Index leading the pack. The NGX ASeM Index remained unchanged.

Trading for the week ended June 5, 2025, was marked by a surge in bargain hunting, particularly in key equities. Top gainers included MTN Nigeria Communications Plc (MTNN), which advanced by 13.96 per cent, FBN Holdings Plc (FIRSTHOLDCO) up 17.60 per cent, Oando Plc with an impressive 25.77 per cent jump, Fidson Healthcare Plc (FIDSON) gaining 14.18 per cent, and International Breweries Plc (INTBREW), which rose 12.89 per cent.

These gains helped offset major losses in other tickers such as Julius Berger Nigeria Plc (JBERGER) which declined by 13.50 per cent, Conoil Plc (CONOIL) down 10 per cent, Transcorp Hotels Plc (TRANSCOHOT) shedding 9.97 percent, and Northern Nigeria Flour Mills Plc (N NIG) dropping by 9.97 percent.

Despite being a shortened four-day trading week, the NGX recorded a total turnover of 3.21 billion shares valued at N76.35 billion, executed in 64,156 deals. This marked a decline from the previous week’s volume of 3.79 billion shares worth N119.39 billion across 89,636 deals.

Overall, the bullish sentiment persisted in the local bourse, with 53 equities recording gains against 43 decliners. The NGX All-Share Index (ASI) appreciated by 2.57 per cent, closing at 114,616.75 points from the previous week’s 111,902.61 points. Similarly, market capitalisation rose by ₦N1.82 trillion to settle at N72.28 trillion, up from N70.46 trillion.

This performance reinforces growing investor confidence in the Nigerian equity market, particularly within the banking sector.

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