The bull run on the Nigerian Exchange continued today, as the All-Share Index rose by 73bps to close at 106,074.26 points. The uptrend was fueled by broad-based gains across key sectors, particularly in telecoms, industrials, and consumer goods. Top gainers included MTNN (+2.51%), WAPCO (+10.00%)—which later traded on full bid—Dangote Sugar (+9.92%), and NASCON (+9.91%), all attracting strong demand. Nestle Nigeria (+10.00%) hit its daily limit up, while Transcorp (+4.40%), Oando (+2.79%), Zenith Bank (+0.89%), and AccessCorp (+0.84%) also contributed to the market’s strength. On the downside, mild profit-taking weighed on UBA (-2.72%), following the release of its unaudited Q1 2025 results. Other laggards included Nigerian Breweries (-4.52%), Fidelity Bank (-1.23%), and First Holdco (-0.60%).
Notably, Legend Internet Plc was listed on the NGX today by way of introduction, adding 2 billion ordinary shares at ₦5.64 per share.
Market turnover stood at ₦10.4 billion ($6.4 million), with activity driven by trades in MTNN, AccessCorp, GTCO, WAPCO, and Fidelity Bank. Year-to-date, the ASI has gained +3.06%. We expect the market to maintain a positive bias in the next session, driven by continued interest in large-cap names and post-earnings repositioning, although intermittent profit-taking could create some volatility.