The Nigerian stock market continued its upward trajectory, with the NGX All-Share Index (ASI) closing at 121,989.67 on Wednesday—a 0.28% gain—edging closer to the 122,000-point threshold.
Key Sector Performances
- Electronic Technology:Â +8.33%Â (Top gainer)
- Producer Manufacturing:Â +7.33%
- Consumer Durables:Â +4.44%
- Market Breadth:Â 11 of 20 sectors closed positive
- Decliners:Â Commercial services, tech services, consumer non-durables, and energy minerals
Large-Cap Stocks & Corporate Debt Activity
Notable Stock Movements
- Unchanged:Â BUA Foods, MTN Nigeria, Dangote Cement, BUA Cement
- Gainers:Â Guaranty Trust (GTCO), Zenith Bank, Nigerian Breweries
Corporate Debt Updates
- Champion Breweries: Launched ₦10 billion commercial paper issuance
- Fidson Healthcare: Offering ₦20 billion under its debt program
- Sunbeth Energies: Secured distribution deal with Dangote Petroleum Refinery
Nigeria’s Economic Outlook & Market Risks
Upcoming GDP Data
- Q1 2025 GDP figures expected soon
- Previous quarter (Q4 2024): 3.84% YoY growth (highest since Q4 2021)
- Services sector (52% of GDP):Â +5.37%Â (Key driver)
External Risks
-
U.S. tariffs on BRICS-aligned nations (including Nigeria) may impact export diversification
Market Forecast: Bullish Sentiment Prevails
Despite global uncertainties, Nigeria’s equity market remains resilient, supported by:
- Strong sectoral performances
- Corporate debt market expansion
- Domestic economic reforms
Analysts expect further upside potential if current trends hold.