The Nigerian stock market sustained its bullish momentum during the week as investors sentiment turned increasingly positive, fuelled by strong first-quarter 2025 earnings results and the ongoing earnings season.
The market’s benchmark indicator, the All-Share Index (ASI), rose by 2.54 per cent week-on-week to close at 108,733.40 points. Similarly, the overall market capitalisation gained N1.691 trillion to close the week at N68.339 trillion.
This uptick was largely driven by strong buy-side activity, particularly within the consumer goods sector, as investors responded positively to solid corporate performance and earnings expectations.
Also, market breadth for the week was positive as 68 equities appreciated in price, 28 equities depreciated in price, while 52 equities remained unchanged. Multiverse Mining and Exploration led the gainers table by 57.48 per cent to close at N10.00, per share. Academy Press followed with a gain of 50.52 per cent to close at N4.32, while Beta Glass went up by 46.31 per cent to close to N160.65, per share.
On the other side, Abbey Mortgage Bank led the decliners table by 15.66 per cent to close at N7.00, per share. Meyer followed with a loss of 13.51 per cent to close at N8.00, while Veritas Kapital Assurance declined by 10.81 per cent to close at 99 kobo, per share.
CREDIT: DAILY POST