Nigerian Stocks Jump 16.6% in H1 2025 as Consumer and Banking Stocks Lead Gains

July 2, 2025 – The Nigerian stock market concluded the first half of 2025 on a strong footing, with the benchmark All-Share Index gaining 16.57% year-to-date. This marks the sixth consecutive first-half rally since 2020 and reinforces investor optimism amid broad-based sector performance.

The index rose from 102,928.6 points in January to close at 119,978.6 at the end of June, supported by a total market volume of 67.08 billion shares. Notably, May and June recorded the highest monthly surges, driven by mid- and large-cap stock performances.

The NGX Consumer Goods Index emerged as the top-performing sector with a gain of 52.21% in the first half of the year. The index rose from 1,731.7 points to 2,635.9 points, reflecting sustained bullish sentiment, particularly in the second quarter. Key stocks such as Honeywell Flour Mills, Vitafoam, and Champion Breweries recorded significant gains.

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The banking sector, tracked by the NGX Banking Index, also saw impressive returns, with an 18.06% rise year-to-date. The index grew from 1,084.5 points to 1,280.4 points by June, backed by a robust trading volume of 24.6 billion shares. Positive investor sentiment was driven by strong performances from Wema Bank, Stanbic IBTC, and GTCO.

The NGX Insurance Index posted a 5.23% increase, with a trading volume of 11.8 billion shares. The sector recorded its best performance in June, driven by companies such as NEM Insurance and Linkage Assurance.

The NGX Industrial Goods Index recorded a modest gain of 1.85%, closing the first half at 3,638.2 points, up from 3,572.2 points in January. Despite positive returns from firms like Beta Glass and Berger Paints, the sector’s performance was dampened by an 8% drop in Dangote Cement’s share price.

In contrast, the NGX Oil & Gas Index ended the half-year in negative territory, falling by 10.12%. The index declined from 2,712.1 points to 2,437.5 points, reflecting five consecutive months of losses. While Eterna and TotalEnergies recorded gains, the sector was weighed down by significant declines in Seplat, Aradel, and Oando.

Overall, the Nigerian equities market displayed resilience and upward momentum in the first half of 2025, reflecting investor confidence and improved corporate earnings across several sectors.