The Nigerian equities market kicked off the holiday-shortened week on a strong note, with the All-Share Index rising 0.48% to close at 104,745.00 points, supported by a sharp rebound in Nigerian Breweries and sustained interest in tier-1 banking stocks. Nigerian Breweries (+9.94%) traded on full bid following the release of its Q1 2025 results, which marked a return to profitability. The positive sentiment extended to the banking sector, where Zenith Bank (+2.27%), UBA (+2.80%), GTCO (+1.69%), and AccessCorp (+2.49%) all posted solid gains. Other strong performers included International Breweries (+10.00%), UCAP (+7.49%), and Transcorp (+1.20%).
However, the session saw some weakness in select names, with First HoldCo (-3.46%), Fidelity Bank (-2.86%), Oando (-1.50%), and Sterling (-4.72%) closing in the red.
Market turnover stood at ₦7.2 billion ($4.5 million), driven by trades in Zenith Bank, AccessCorp, Fidelity, GTCO, and Nigerian Breweries. Year-to-date, the index has gained 1.77%. We anticipate a continuation of the positive momentum in the next session, as investor appetite remains supported by corporate earnings releases and bargain hunting in fundamentally strong names.