In a historic rally that underscored investor optimism and market resilience, the Nigerian All-Share Index (ASI) shattered the 119,000-point threshold on Tuesday, June 24, 2025, closing at an all-time high of 119,790.82.
This represents a 1.02 per cent surge from the previous day’s 118,579.65, and signals an increasingly bullish sentiment that continues to grip Africa’s largest equities market.
The market’s stellar performance was underpinned by renewed investor appetite for blue-chip and mid-cap stocks, with Dangote Sugar, Lafarge Africa (WAPCO), BUA Cement, International Breweries, and Okomu Oil driving the momentum.
Activity on the trading floor was anything but tepid. Total volume surged to 868.6 million shares, a significant leap from the 653.6 million shares traded in the previous session.
Meanwhile, the total market capitalization climbed to N75.5 trillion, up from N74.8 trillion, with over 22,207 deals executed during the day.
The top of the gainers’ chart read like a who’s who of investor favorites: Dangote Sugar soared by 10 per cent to N44.00; Okomu Oil jumped 10 per cent to N748.00; UPDC and Beta Glass each gained 10 per cent; Champion Breweries rallied 9.98 per cent to N9.92.
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However, the day wasn’t without its laggards. DAAR Communications led the decliners, falling 7.81per cent to N0.59, followed by Prestige Assurance, down 5.56 per cent to N1.02.
Investor interest was sharply focused on a handful of counters, led by LivingTrust Mortgage Bank, which traded 112.2 million shares, and Royal Exchange (ROYALEX), which saw 103.5 million shares change hands.
Fidelity Bank, continuing its strong showing, recorded 83.9 million shares, while AccessCorp and Zenith Bank rounded out the top five with 55.6 million and 34.2 million shares, respectively.
In terms of transaction value, Okomu Oil again dominated with N3.2 billion worth of trades. Other high-value movers included Zenith Bank (N1.7 billion), Fidelity Bank (N1.63 billion), Aradel Holdings (N1.62 billion), and AccessCorp (N1.2 billion).
Among the SWOOTs (Stocks Worth Over One Trillion Naira), the performance was largely positive: WAPCO (Lafarge Africa) surged 9.13 per cent; International Breweries climbed 7.14 per cent; BUA Cement added 4.66 per cent; MTN Nigeria advanced 1.02 per cent and Nigerian Breweries edged up 0.60 per cent
(TRANSCOHOT) posted losses, dipping by 4.06 per cent and 2.18 per cent, respectively.
Meanwhile, in the FUGAZ banking group — which includes Nigeria’s top five tier-1 banks — three players closed in the green: Zenith Bank rose 4.23 per cent AccessCorp added 1.79 per cent and GTCO edged up 0.06 per cent. First Bank Holdings (FIRSTHOLDCO) dropped 3.93 per cent, and UBA slipped 0.29 per cent.
The ASI’s current year-to-date return stands at an impressive 16.28 per cent, reinforcing confidence in Nigerian equities despite macroeconomic headwinds.
Investor interest is especially being buoyed by strong earnings expectations, policy reforms, and relatively low valuations in key sectors such as banking, manufacturing, and consumer goods.
Market watchers believe that if the current buying momentum continues—especially in high-cap stocks—the ASI could break the psychological 120,000 barrier in the coming sessions.
As the second half of the year approaches, investors will be watching closely for quarterly earnings results, inflation data, and central bank signals that could further influence market direction.