Nigerian Stock Market strikes new record as June rally pops
The All-Share Index broke new ground today, soaring above the 114,500 mark to close at 114,616.75 on June 5, 2025, sealing the first trading week of the month strongly in positive territory. The index posted four consecutive days of gains, ending the week up 2.57% and bringing its year-to-date performance to 11.36% as of the close of trading on Thursday, June 5, 2025. This bullish stride was accompanied by a rise in market activity, as trading volume surpassed 3 billion shares, indicating stronger investor participation and a clear tilt towards the buy side.
At the heart of this rally were select heavyweight stocks, whose sheer size and influence on the index played a central role in moving the market up. As these stocks appreciated, they collectively powered the index increase. Here are the heavyweight stocks that led the rally. For emphasis, the market capitalization of each appreciating stock is included in brackets next to the stock name.
- ACCESSCORP (N1.23 trillion) led the pack among heavyweight stocks with weekly gains under 10%, increasing by 5.45%. With a market capitalization of N1.23 trillion, the stock saw its strongest performance on Thursday, jumping over 5% to close at N23.20.
- GTCO (N2.39 trillion) followed closely, posting a 4.55% gain to end the week at N70.05, while ARADEL (N2.38 trillion) climbed 3.77% to close at N550.59.
- In the 3% bracket were key banking players UBA (N1.47 trillion), which advanced 3.75% at N36.00, and ZENITHBANK (N2.08 trillion), up 3.57% to settle at N50.75.
Meanwhile, cement giant LAFARGE (N1.38 trillion) edged up modestly by 0.88%, closing the week at N86.00. Most of these heavyweight gainers saw their upward movement later in the week, especially on Thursday, except for GTCO, which showed strength earlier with gains on both Tuesday and Wednesday.
Still below the N1 trillion mark, OANDO gained 25.77% to close the week at N56.85, pushing its market capitalization to N706.7 billion. FBN Holdings saw a 17.60% boost, closing at N29.40 and taking its market cap to N1.23 trillion. Telecom giant MTN Nigeria (MTNN) increased 13.96% to end at N319.20, raising its market capitalization to N6.70 trillion. International Breweries advanced 12.89%, ending the week at N10.95, with its market cap rising to N 1.84 trillion.
Sustained bullish momentum in heavyweight Nigerian stocks may continue to raise the All-Share Index, potentially extending its gains for the year. In 2024, the index rose to an impressive year-to-date return of 37.65%, a mark it has yet to revisit, currently standing at 11.36% year-to-date. The market’s strong pulse is undeniable, with weekly trading volumes exceeding 3 billion shares and widespread buying interest across both large- and mid-cap stocks. The upward trajectory may persist if the rallying stocks are not perceived as overbought. However, any potential pullback in the index could create fresh entry points for investors looking to buy the dip.
