The Nigerian equities market staged a strong comeback on Tuesday, December 30, 2025, as a broad-based rally pushed the benchmark index back above the 155,000-point psychological threshold. The renewed bullish momentum lifted investor sentiment across multiple sectors, reflecting sustained buying interest as the year draws to a close.
Data from the Nigerian Exchange Group showed that the All-Share Index (ASI) gained 645.2 points during the session, representing a 0.42% increase. The index rose from an opening level of 154,389.5 points to close at 155,034.7 points, marking a return to levels last seen during the market’s recent upward surge.
Market activity also improved significantly, with total trading volume jumping to 4.6 billion shares, compared with 1.47 billion shares recorded in the previous session. The sharp rise in volume suggested heightened participation by both institutional and retail investors, particularly in insurance and banking stocks. In total, trades were executed across 34,852 deals.
Market capitalisation mirrored the positive performance, expanding to N98.8 trillion from N98.4 trillion a day earlier. The increase underscores the depth of the rally, as gains were recorded across a wide range of stocks rather than being limited to a few heavyweight names.
Top gainers and losers
Leading the gainers’ chart were Julius Berger, Honeywell Flour Mills, and Guinea Insurance, each recording the maximum daily price appreciation of 10%. The strong performance of these stocks reflects renewed investor confidence, with bargain hunting and speculative interest driving prices sharply higher.
Other notable gainers included Austin Laz, which rose by 9.94% to close at N3.87, and Multiverse Mining, which gained 9.88% to settle at N13.35. The breadth of gains across construction, consumer goods, insurance, and mining stocks highlighted the broad-based nature of the rally.
On the downside, Union Dicon Salt and LivingTrust Mortgage Bank topped the losers’ table, shedding 10% each. First HoldCo also suffered a steep decline, dropping by 9.94%, while Veritas Kapital Assurance and Mutual Benefits Assurance lost 7.47% and 7.46% respectively.
Trading activity and value
In terms of volume, Cornerstone Insurance dominated the session, with approximately 3.6 billion shares exchanging hands, making it the most actively traded stock of the day by a wide margin. FCMB Group followed with 302.3 million shares, while Wema Bank ranked third with 97.3 million shares traded.
Access Holdings and Chams Holding Company completed the top five most traded stocks by volume, recording 75 million and 47.5 million shares respectively.
By transaction value, Cornerstone Insurance also led the market, with trades worth about N18.5 billion. FCMB posted transactions valued at N3.3 billion, while Zenith Bank recorded N2.2 billion. Wema Bank and Access Holdings followed with N1.8 billion and N1.6 billion respectively.
Performance of SWOOTs and banking majors
Stocks Worth Over One Trillion Naira (SWOOTs) closed largely in positive territory. BUA Foods advanced by 3.88%, while BUA Cement gained 2%, reinforcing the upbeat tone in large-cap consumer and industrial stocks.
Among the major banking stocks, Access Holdings rose by 1.67%, Guaranty Trust Holding Company (GTCO) appreciated by 1.62%, and Zenith Bank edged up by 0.24%. In contrast, First HoldCo recorded a sharp decline, while United Bank for Africa (UBA) slipped marginally by 0.37%.
Market outlook
With the All-Share Index reclaiming the 155,000-point level and year-to-date performance standing at an impressive 50.63%, the Nigerian stock market is ending 2025 on a strong footing. Analysts note that if buying interest remains sustained and market breadth continues to improve, the rally could extend beyond current levels.
As investors position for the final trading day of the year, sentiment remains tilted towards the upside, supported by strong liquidity, sector-wide participation, and expectations of continued momentum into the new year.
Emmanuel Bassey is a Financial Expert that has worked in the Banking and Finance Industry for over 15+ years across different banks in Nigeria
