Airtel's Strong Performance Pushes Nigerian Stock Market to Record High, Investors share N1trn

• Nigeria's stock market recorded an improvement on Tuesday, thanks to the strong performance of Airtel Africa stocks
• The telecommunications giant led the pack of gainers as its share price increased by 10%, followed by Omatek Ventures
• Airtel Africa is currently in the second tranche of its $100 million share buy-back programme, which is attracting investors

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian Exchange Limited (NGX) on Tuesday, May 27, 2025, recorded a historic surge as the All Share Index (ASI) soared past the 111,000 points mark, closing at 111,606.22 points

Data showed that at the end of trading, the ASI jumped from 109,884.93 to a record-high of 111,606.22, gaining 1.57% as it crossed both the 110,000 and 111,000 marks.

Market capitalisation also rose by 1.50% to reach N70.377 trillion by the close of trading, up from N69.2 trillion in the previous session.

This means that investors made a whopping N1.086 trillion after 4 hours of trading activities.

Snapshot of stock market performance on Tuesday

The standout performer driving the rally was Airtel Africa Plc. The company is currently executing a $100 million share buy-back programme, now in its second tranche following the successful completion of the first phase announced on 23 December 2024.

In summary, investors exchanged 409,571,113 shares valued at N9.869 billion across 15,992 deals on the NGX on Tuesday.

Here is a snapshot of the losers and winners

Top gainers

• Airtel Africa led the day’s gainers, rising by N215.60 from N2,156.90 to N2,372.50 per share (+10.00%).
• Omatek Ventures gained N0.06, moving from N0.65 to N0.71 per share (+9.23%).
• Cornerstone Insurance rose by N0.27, from N3.13 to N3.40 per share (+8.63%).
• Nigerian Aviation Handling Company added N6.25, increasing from N74.50 to N80.75 per share (+8.39%).
• University Press gained N0.31, moving from N4.79 to N5.10 per share (+6.47%).

Top losers

• On the flip side, MCNichols topped the losers’ chart with a 9.80% decline:
• MCNichols dropped N0.24, falling from N2.45 to N2.21 per share (−9.80%).
• Computer Warehouse Group lost N0.95, decreasing from N10.00 to N9.05 per share (−9.50%).
• Champion Breweries declined by N0.55, from N7.45 to N6.90 per share (−7.38%).
• Red Star Express fell N0.31, from N6.71 to N6.40 per share (−4.62%).
• Jaiz Bank dropped N0.15, moving from N3.36 to N3.21 per share (−4.46%).

Top traded stocks by volume

In terms of trading activity, Custodian Investment led the market by volume:

• Custodian Investment recorded 37.59 million shares valued at N752.12 million
• Fidelity Bank followed with 36.99 million shares worth N676.32 million.
• Veritas Kapital Assurance exchanged 33.01 million shares valued at N34.10 million.
• Zenith Bank traded 27.43 million shares worth N1.33 billion.
• Access Holdings recorded 23.69 million shares valued at N519.56 million.

Reacting to the market performance, Gilbert Ayoola, market analyst, explained:

"Insurance stocks on the NGX, long ignored due to poor returns, are now showing signs of revival in 2025, contributing to the market’s overall growth.

"Firms like Cornerstone have led the way. Several insurers, including Nem, Custodian, Lasaco, and AIICO, are gaining momentum as the sector undergoes reforms. This could signal a broader re-rating of insurance stocks if the trend continues.

"Investors are encouraged to watch these emerging players closely."

Naira's value drops against US dollar

Earlier, Legit.ng reported that the value of the naira depreciated again in the foreign exchange market against the US dollar on Tuesday.

Data showed that the Nigerian currency suffered losses both in the official and unofficial foreign exchange markets.

The Central Bank of Nigeria has conducted FX intervention, selling $50 million to authorised dealer banks

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng