The Nigerian equities market closed the trading session on Friday, December 12, 2025, on a strong bullish note, as renewed buying interest in large-cap stocks lifted key market indicators. The benchmark All-Share Index (ASI) advanced by 1,482.64 points, representing a 1.00 per cent gain, to settle at 149,433.20 points from the previous day’s close of 147,950.60 points. The positive performance was driven largely by gains in heavyweight stocks, particularly MTN Nigeria Communications Plc and International Breweries Plc, which helped sustain investor optimism.
Trading activity showed moderate improvement, with total market volume rising to 571 million shares from 529 million shares recorded in the preceding session. The uptick in volume reflected increased participation by investors positioning ahead of potential year-end rallies, especially in high-capitalisation stocks. Market breadth was mixed, as gains in select counters outweighed losses in others.
In line with the improved sentiment, total market capitalisation expanded by approximately N900 billion to close at N95.2 trillion, up from N94.3 trillion recorded a day earlier. A total of 20,418 deals were executed during the session, underscoring steady trading momentum despite selective profit-taking in some stocks.
Guinness Nigeria Plc emerged as the top-performing stock of the day, gaining the maximum allowable 10.00 per cent to close at N217.80 per share. Morrison Industries followed closely with a 9.84 per cent increase to N4.68. Other notable gainers included Champion Breweries, which rose by 9.69 per cent to N14.15, Austin Laz & Company with a 9.66 per cent gain to N2.27, and C & I Leasing, which advanced by 9.62 per cent to N5.70.
On the flip side, eTranzact International led the losers’ chart, shedding 10.00 per cent to close at N12.60. Chellarams Plc declined by 9.90 per cent to N13.20, while Eunisell Interlinked fell by 9.89 per cent to N75.15. Afriprudential Plc and DAAR Communications also recorded losses of 9.77 per cent and 9.18 per cent, respectively, reflecting bouts of profit-taking in selected counters.
Activity on the volume chart was dominated by Access Holdings Plc, which recorded the highest turnover with 106 million shares traded. Consolidated Hallmark Holdings followed with 59.8 million shares, while Transcorp Power accounted for 42.7 million shares. Zenith Bank and Champion Breweries completed the top five most actively traded stocks, with volumes of 37.6 million and 36.4 million shares, respectively.
In terms of transaction value, Transcorp Power led the market with trades valued at N13.1 billion, highlighting strong institutional interest. Zenith Bank followed with transactions worth N2.4 billion, while Access Holdings recorded N2.1 billion. MTN Nigeria and Guaranty Trust Holding Company (GTCO) rounded out the top five by value, with N1.3 billion and N1.2 billion, respectively.
Stocks worth over one trillion naira (SWOOTs) largely reflected the bullish sentiment. MTN Nigeria gained 7.26 per cent, International Breweries advanced by 4.82 per cent, and Nigerian Breweries rose by 3.52 per cent. However, performance among the FUGAZ banking stocks was mixed. GTCO declined by 1.05 per cent, UBA fell by 0.75 per cent, Zenith Bank slipped by 0.70 per cent, and Access Holdings lost 0.50 per cent, while First HoldCo posted a modest gain of 0.32 per cent.
Looking ahead, the All-Share Index is edging closer to the psychological 150,000-point level, as bullish momentum returns to large-cap stocks. Should sustained buying interest extend across a broader range of mid- and large-cap equities, the market may break above this threshold, potentially setting its sights on higher levels above 155,000 points in the near term.
Emmanuel Bassey is a Financial Expert that has worked in the Banking and Finance Industry for over 15+ years across different banks in Nigeria
