The Nigerian equity market closed the shortened Christmas trading week of 2025 on a strong note, extending its year-long rally and rewarding investors who maintained exposure to fundamentally strong and momentum-driven stocks. Data from the Nigerian Exchange show that the All-Share Index (ASI) gained 1,482.45 points during the three-day trading week ended December 24, closing at 153,539.83 points from 152,057.28 points the previous week. The advance was driven largely by price appreciation in select large-cap and mid-cap stocks, particularly in the consumer goods and banking sectors.
Trading activity was limited to Monday through Wednesday, as Thursday and Friday were declared public holidays by the Federal Government in observance of Christmas. Despite the reduced number of trading sessions and lower market participation, investor sentiment remained positive. On a week-to-date basis, the ASI advanced by 0.97%, while month-to-date performance stood at an impressive 6.98%. Quarter-to-date and year-to-date returns climbed to 7.59% and 49.17%, respectively, underscoring the strength and resilience of the Nigerian stock market in 2025.
Market participation, however, declined sharply due to the shortened week. Total trading volume fell to 2.8 billion shares exchanged in 80,229 deals, compared with 9.8 billion shares in the previous week. In contrast, market capitalization tracked the bullish movement in prices, rising to N97.89 trillion from N96.9 trillion. Market breadth remained positive, although softer than the prior week, as 44 equities recorded price appreciation while 30 equities declined.
Performance across market indices was mixed. The NGX Premium Index slipped by 0.51%, weighed down by a notable 5.21% decline in MTN Nigeria Communications Plc. In contrast, the NGX 30 Index and the NGX Main Board Index posted gains of 0.96% and 1.74%, respectively, reflecting renewed buying interest in selected blue-chip and mid-tier stocks.
Sectoral performance during the week highlighted the dominance of consumer-facing and financial stocks. The NGX Consumer Goods Index emerged as the best-performing sector, gaining 3.34%, supported by strong rallies in International Breweries Plc, which surged by 20.83%, and Guinness Nigeria Plc, which advanced by 9.98%. The NGX Banking Index followed closely with a 2.93% gain, driven primarily by First HoldCo Plc, which jumped 17.91% amid sustained investor interest.
The NGX Industrial Goods Index also closed higher, rising by 1.17%. Austin Laz & Company Plc led the sector with a remarkable 32% price appreciation, while cement heavyweights BUA Cement Plc and Lafarge Africa Plc gained 2.94% and 0.75%, respectively. Meanwhile, the NGX Oil & Gas Index closed flat, reflecting subdued activity in energy stocks, while the Insurance Index declined by 2.13% due to steep losses in select counters.
Among the top gainers for the week, Aluminium Extrusion Industries Plc led the chart with a 32.39% rally to close at N16.35. Austin Laz & Company Plc followed closely with a 32.23% gain to N3.20. Other notable gainers included International Breweries Plc, Mecure Industries Plc, First HoldCo Plc, FTN Cocoa Processors Plc, International Energy Insurance Plc, Ikeja Hotel Plc, Guinness Nigeria Plc, and Eunisell Interlinked Plc, reflecting broad-based interest across multiple sectors.
On the downside, Legend Internet Plc topped the losers’ table, shedding 11.71% to close at N4.90, while Champion Breweries Plc declined by 11.50%. Insurance stocks featured prominently among the laggards, alongside losses recorded in Ellah Lakes Plc and MTN Nigeria Communications Plc.
The week also featured several corporate actions, including a N21 billion rights issue by Fidson Healthcare Plc, insider share purchases at First HoldCo’s banking subsidiary, and significant shareholder transactions in Neimeth Pharmaceuticals Plc.
Looking ahead, analysts note that the ASI is edging closer to the 155,000-point psychological level. If buying interest broadens beyond a handful of outperformers, the market could attempt a push toward new highs as 2025 draws to a close.
Emmanuel Bassey is a Financial Expert that has worked in the Banking and Finance Industry for over 15+ years across different banks in Nigeria
