Stock market rises by 0.38% ahead of Easter holidays
Nigeria’s equities market finished the week on a positive note, gaining 0.38 percent or approximately N240 billion on Thursday, the final trading session in a holiday-shortened week.
Despite the late boost, the market still recorded a weekly decline of 0.31 percent, as profit-taking activities limited the upward momentum of the Lagos Bourse. This tempered the year-to-date return, bringing it down to +1.28 percent.
The Federal Government had declared Friday, 18 April, and Monday, 21 April, 2025, as public holidays in observance of Good Friday and Easter Monday, respectively.
Ahead of Thursday’s session, analysts at Vetiva Research had projected that sustained buying interest in banking stocks observed during Wednesday’s trading would spill over into the final session of the week and help push the market into positive territory.
That forecast held true, with strong investor appetite for stocks such as Nigerian Breweries, Ecobank Transnational Incorporated (ETI), Abbey Mortgage Bank, and Livestock Feeds contributing to the bullish close.
Other actively traded equities included Universal Insurance, Fidelity Bank, Access Holdings, and Zenith Bank.
The day’s trading saw 376,292,025 shares change hands in 11,204 transactions, with a total value of N7.905 billion.
Among the top gainers, Abbey Mortgage Bank led the charge, rising from N8.15 to N8.96, an increase of 81 kobo or 9.94 percent. Nigerian Breweries followed closely, gaining N3.25 or 9.86 percent to close at N36.20 from a previous N32.95.
ABC Transport’s share price rose by 12 kobo or 9.23 percent, moving from N1.30 to N1.42. Livestock Feeds also saw significant upward movement, climbing from N8.70 to N9.50, a gain of 80 kobo or 9.20 percent. ETI advanced from N26.85 to N29.25, adding N2.40 or 8.94 percent.
By the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) had increased from 103,851.88 points to 104,242.38 points, while the market capitalisation grew from N65.259 trillion to N65.499 trillion.
