Nigerian Stock Market Dips N81 Billion Amid Bearish Trend, NGX Reports Q1 Profit

The Nigerian Exchange Limited (NGX) closed Wednesday, April 30, 2025, on a bearish note, with investors losing N81 billion as market capitalization fell by 0.12 percent to N66.496 trillion from N66.577 trillion the previous day. The All-Share Index mirrored this decline, dropping 0.12 percent or 130.33 points to 105,800.85, down from 105,931.18. The downturn was primarily driven by sell-offs in heavyweight stocks, reflecting cautious investor sentiment amid economic uncertainties. Despite the overall market slump, the NGX Group reported a robust 58 percent profit increase to N2.1 billion for the first quarter of 2025, up from N1.34 billion in Q1 2024, signaling resilience in its operational performance.

Market breadth remained positive, with 39 stocks advancing against 25 decliners, indicating selective investor confidence. Leading the gainers, University Press and Vitafoam each surged by 10 percent, closing at N3.74 and N52.80 per share, respectively. Livestock Feeds rose by 9.97 percent to N8.49, while C & I Leasing Plc and McNichols Plc gained 9.89 percent and 9.88 percent, closing at N4.00 and N1.89, respectively. These gains were attributed to strong investor interest in fundamentally sound companies, despite the broader market’s bearish tilt.

On the losers’ side, Ecobank Transnational Incorporated and International Breweries each plummeted by 10 percent, ending at N28.80 and N7.38 per share, respectively, reflecting heavy sell-offs. Ikeja Hotel Plc dropped 9.89 percent to N12.30, Cadbury Nigeria shed 9.80 percent to N29.00, and Austin Laz and Company Plc fell 9.52 percent to N1.71. The declines in these large-cap stocks significantly weighed on the market’s performance, underscoring the impact of profit-taking in key sectors like banking and consumer goods.

Trading activity saw a total of 392.99 million shares valued at N12.755 billion exchanged across 17,519 transactions, a notable decrease in volume from Tuesday’s 733.05 million shares worth N35.288 billion in 16,619 deals. United Bank for Africa led the activity chart with 38.858 million shares traded for N1.36 billion, followed by Wema Bank with 26.616 million shares at N400 million, and Fidelity Bank with 25.39 million shares worth N525.05 million. The high trading volumes in these banking stocks suggest sustained investor interest despite the market’s downward trend.

The bearish session aligns with recent market volatility, as posts on X noted the NGX All-Share Index’s struggle to maintain upward momentum amid profit-taking and mixed corporate earnings. However, the market’s year-to-date return remains positive at 2.79 percent, bolstered by earlier gains of N3.73 trillion from January to April 2025, driven by federal government reforms. As investors navigate this cautious phase, the NGX’s Q1 profit underscores its operational strength, offering a glimmer of optimism amid the market’s short-term challenges.