Nigerian Bourse Extends Rally As Heavyweights Lift Index, Guinness, NCR Break 52-Week Highs

Market Update For December 3, 2025

The Nigerian equities market sustained its positive momentum into the midweek session, recording another day of gains as investors continued to channel liquidity into fundamentally sound counters. The session maintained the upward trajectory seen on Tuesday, reflecting renewed appetite for value stocks, improved liquidity, and stronger buying sentiment across several key sectors. From the onset of trading, the market displayed resilience, with deep pockets of buying momentum driving intraday stability despite mild attempts at profit-taking. Investors appeared increasingly confident, rotating into stocks with favourable entry points, technical breakouts, and strengthening fundamentals.

The broader market environment was influenced by the gradual return of institutional buyers who have begun repositioning ahead of the year-end season, a period typically characterised by increased market activity, portfolio rebalancing, and stronger liquidity inflows. This was visible in the pattern of trades, especially in major banking, consumer goods, and industrial stocks that have become focal points for investors anticipating December’s seasonal uplift.

The standout feature of the day was the extraordinary activity in ETRANZACT, which dominated market turnover after an off-market transaction involving about 1.8 billion units of its shares. This single block trade significantly boosted market liquidity and pushed overall volume higher than usual levels. Such institutional-scale movements tend to reshape market statistics and reflect deeper strategic activity within the market’s financial technology segment.

Consumer goods stocks maintained strong momentum, led by GUINNESS, which soared to a fresh 52-week high at N198.00 as renewed demand continued to push the counter into new price territories. The stock’s recent breakout is a signal of rising investor confidence in the sector’s recovery prospects. NCR also extended its impressive run, breaking its 52-week high at N72.70 as interest from both retail and institutional players continued to build. NGXGROUP and SKYAVN also advanced significantly, further strengthening the positive breadth recorded during the session.

The banking sector remained a central pillar of market strength. Tier-1 banks such as ZENITHBANK, GTCO, UBA, and ACCESSCORP experienced steady inflows as investors positioned for improved full-year earnings, dividend declarations, and better capital strength. The sector’s fundamental outlook continues to support its role as a stabilising force within the market, with sustained buy interest evident in the intraday trade flows.

Industrial goods stocks played their part in supporting the day’s bullish close, with BUACEMENT attracting renewed attention. Investors continue to view the industrial sector as a hedge against inflationary pressures and macro uncertainties, which has kept sentiment stable around key players in the space. Insurance stocks, particularly NEM, recorded decent gains, reflecting improving investor perception of the sector’s evolving fundamentals and stronger balance sheet profiles.

Oil prices recovered strongly after declining in the previous session. Brent crude rebounded to $63.13, while West Texas Intermediate climbed to $59.39. The recovery was driven by geopolitical developments after Russia and U.S. officials failed to reach a compromise during high-level talks in Moscow intended to explore a potential Ukraine peace deal. The breakdown of negotiations reduced expectations of any near-term easing of sanctions currently imposed on Russian oil producers. This, combined with renewed Ukrainian attacks on Russian Black Sea export infrastructure and two tankers transporting sanctioned crude, injected fresh uncertainty into global oil markets.

From a technical standpoint, the Nigerian market maintained its bullish structure. The All-Share Index continued to trade above its short-term moving averages, confirming the strength of the ongoing uptrend. Momentum indicators such as RSI and MACD reflected a sustained increase in buy pressure, while market volume patterns showed expanding participation driven largely by institutional flows. The Money Flow Index indicated fresh capital inflow, reinforcing the view that investors are gradually returning with stronger conviction. Immediate resistance remains at the 145,800 region, while initial support is established around 144,500. A decisive break above resistance could set the market up for further upside, especially as December’s historical trend favours accumulation and elevated activity levels.

The outlook for the market remains broadly positive. Investors are increasingly selective, prioritising fundamentally strong companies positioned to deliver solid year-end numbers. With improving liquidity, better-than-expected sector performance, and rising global oil prices, the environment remains supportive for further upside. The market is expected to trade in a mixed but upward-leaning pattern as the year draws to a close. Short-term pullbacks may still occur, especially in stocks that have witnessed sharp gains, but such dips are likely to attract quick bargain hunting.

Market Performance Summary

The All-Share Index (ASI) advanced by 0.27 percent to close at 145,323.87 points, compared to 144,928.36 points in the previous session. Market capitalization grew by N252.10 billion to settle at N92.63 trillion, bringing the year-to-date return to 41.19 percent. Market breadth ended positive as 30 stocks recorded gains while 16 declined. GUINNESS at 10.00 percent, NCR at 9.98 percent, NGXGROUP at 9.96 percent, and NEM at 4.00 percent led the gainers’ chart, while VERITASKAP, LASACO, ETI, and CORNERST featured among the top losers. Total market turnover closed at 2.25 billion shares valued at N20.97 billion, driven largely by off-market transactions in ETRANZACT, which accounted for more than 82 percent of total volume traded.

Invest 2026 Traders & Investors Summit

Theme: Pre-Election Year Investment Opportunities & Risks

Sub-Topics

1. Comprehensive Earnings Guide for Profitable Investing and Trading in 2026, by Mr Peter Sunday Adebola, Managing Director/CEO Edgefield Capital Management Ltd

2. Pre-Election Year Rally: How Economic Events & Tax Reforms Fuel Bull Or Bear Cases In 2026, by Mr Teriba Adeboye, MD/CEO, Qualinvest Capital ltd

3. NGX Pre-Election Year Performance & Historical Patterns:10 Golden Stocks For Profitably Investing, by Mr Ambrose Omordion, CRO. Investdata Consulting Ltd

4. Nigeria Infrastructural Gap & Fiscal Policy Reforms: Where are Investment Opportunities in 2026, by Mr Tope Ojo, Managing Partner, Tope & Tunde Estate Surveyors & Valuers

5. Investment Opportunities In The Alternative Markets In 2026 & Beyond, by Dr Sylvester Anaba (PhD, FCS) Head Research, United Capital Plc

6. The Pre-election Economy & 2016 Budget: Implementation and Impact On NGX, by Mr Abiola Rasaq, Former Head, Investor Relations & Portfolio Investments United Bank For Africa Plc   

7. NGX New Highs & Correction: The Power Of Price Action, Time & Momentum In Profitable Trading In 2026 & Beyound, by Mr Abdul-Rasheed Oshoma Momoh, ED Operations, TRW Stockbrokers Ltd  

8. Strategies For Equity Investing & Trading In A Pre-Election Year, by Mr Kebira Jimoh Aruna, MD/CEO GlobalView Capital Ltd  

Riding the tide of pre- election Years in Nigeria, 2026 is not just any year—it’s part of a powerful historical trend or pattern that should be known to smart traders or discerning investors in any investment window, market or exchange in Nigeria today. It comes with tradable opportunities and risks that are associated with elections and post-elections. The ability to navigate between politics and economy creates the wealth to makes the difference in your investment. The reading of a nation’s electoral cycle and how investors perceive whether there could be a change in leadership or continuity, is a major factor that results in much of the uncertainty in pre-election years have been known for. This, it is believed can, and does spike market volatility and businesses, especially when it is seen that a new party may take power. This summit will help market players to navigate 2026 profitably by maximizing gains and minimize losses  

Take away from this summit includes:

How to construct a resilient and Powerful Portfolio that adapts to market and economic changes.

● What to expect from the market and economy as the new tax reforms kicks off in 2026.

● Why historical patterns and trends in Nigerian election cycle is important when taking your investment decision in 2026 and beyond.

● The power of liquidity and corporate earnings in price movement.

● How to anticipate big sector moves and recovery in 2026 with ongoing reforms

● Understanding the cycle of 4 years opportunities time frames that comes with election preparation in Nigeria

● 10 golden stocks for 2026

Date: December 6, 2025

Fee: N75,000

Venue: Zoom

If you want to be among the winning investors and traders in 2026, send Yes to: 08028164085, or 08179547605 now.