Nigeria’s Equity Index Gains 0.99% On Earnings Optimism, Technical Indicators Point to Sustained Uptrend
Akintunde Oyedokun
Research Analyst
The Nigeria’s equities market sustained its positive trajectory mid-week as investors continued reacting to strong corporate earnings for the first half of 2025.
The benchmark NGX All-Share Index advanced by 0.99% to close at 139,278.67 points, reflecting strong buying interest across key sectors, while Market capitalisation rose by ₦863.48 billion to ₦88.05 trillion, while the year-to-date return strengthened further to 35.32%.
This bullish performance was supported by gains in high-cap and fundamentally strong stocks such as BERGER, DANGSUGAR, UACN, PZ, NASCON, LAFARGE, MTNN, NB, GTCO, ZENITHBANK, ETI, FIDELITYBK, ACCESSCORP, and UBA.
Market sentiment remained upbeat, with 38 stocks posting gains against 30 losers. ROYALEX and MULTIVERSE led the gainers’ chart, while FTNCOCOA and ABBEYBDS topped the losers’ list. Also, a number of stocks broke above their 52-week highs, including DANGSUGAR at ₦71.15, UACN at ₦73.00, PZ at ₦43.35, NPFMCRFBK at ₦3.42, ROYALEX at ₦1.54, and MECURE at ₦14.45, while BERGER reached its 52-week peak at ₦37.50, signaling renewed confidence in these counters.
Despite the bullish sentiment, total traded volume declined slightly by 2.00% to 922.03 million units, with a transaction value of ₦35.40 billion spread across 36,423 deals. FIDELITYBK was the most active stock by volume, trading 90.40 million units, while MTNN recorded the highest trade value at ₦3.35 billion, reflecting strong institutional demand.
Technically, the market remains in a strong uptrend, with the NGXASI firmly trading above its key moving averages. The 20-day, 50-day, and 100-day exponential moving averages are all pointing upward, indicating
Oil prices closed 1% higher on Wednesday, driven by market reactions to President Trump’s accelerated deadline for Russia to end the Ukraine war and new tariff threats on Russian oil trade. Brent crude rose to $73.24, while WTI settled at $70. Investors largely overlooked mixed U.S.
