Investors on the Nigerian Exchange Limited (NGX) experienced a significant upswing on April 8, 2025, as the market rebounded from previous losses. The All-Share Index (ASI) increased by 159.86 points, representing a 0.15% growth, closing at 104,376.73 points. This positive movement added approximately ₦100 billion to the market capitalization, bringing it to ₦65.589 trillion.
Key Drivers of the Market Rebound
The resurgence was largely driven by renewed investor interest in banking stocks. Notable performers included Zenith Bank, FBN Holdings, and United Bank for Africa (UBA), which recorded gains of 3.3%, 3.7%, and 2.6% respectively.
Sectoral Performance
Despite the overall market gain, sectoral performances were mixed:
- Banking Sector: The NGX Banking Index rose by 1.89%, bolstered by the aforementioned banks.
- Insurance Sector: The NGX Insurance Index declined by 4.07%.
- Consumer Goods Sector: The NGX Consumer Goods Index decreased by 0.16%.
- Industrial Goods Sector: The NGX Industrial Goods Index fell by 0.11%.
Market Breadth and Trading Activity
Market breadth closed negative, with 16 stocks advancing against 42 decliners. Top gainers included Secure Electronic Technology, Abbey Mortgage Bank, Sterling Financial Holdings, VFD Group, and Mutual Benefits Assurance. Conversely, Nigerian Aviation Handling Company (NAHCO), NEM Insurance, Lasaco Assurance, Royal Exchange, and UPDC led the losers’ chart.
Trading volume increased by 3.71% to 460.565 million units, valued at ₦10.105 billion, across 14,528 deals. Access Holdings led the activity chart by volume with 56.498 million shares traded, while Guaranty Trust Holding Company (GTCO) led by value, with trades worth ₦3.43 billion.
Global Market Context
The Nigerian stock market’s performance aligns with a global market rebound following recent volatility caused by President Donald Trump’s tariff announcements. World markets, including those in Asia, Europe, and the U.S., showed positive movements after days of heavy selling, providing a reprieve to investors worldwide.
Outlook
While the market’s rebound offers a positive outlook, investors are advised to remain cautious and monitor ongoing developments, both domestically and internationally, that could impact market dynamics in the coming weeks.
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