Nigerian Stock Market Posts Marginal Gain as Stanbic IBTC, Zenith Bank Lead Activity
Nigerian stock market closed the latest trading session on a cautious note, posting only a marginal gain as investors continued to trade selectively across key stocks. The NGX All-Share Index (ASI) rose by 10.8 points, ending the day at 166,267.60, a performance that reflects a market struggling to find strong direction despite pockets of active trading.
Market capitalisation remained largely flat at about ₦106.4 trillion, reinforcing the picture of a market that is stable but lacking the momentum needed for a broad-based rally. While prices barely moved, trading activity told a slightly different story, with investors positioning in a few high-profile names, particularly within the banking sector.
The highlight of the session was the dominance of Stanbic IBTC Holdings and Zenith Bank Plc in terms of value traded. Stanbic IBTC emerged as the most traded stock by value, recording about ₦2.78 billion, closely followed by Zenith Bank with roughly ₦2.74 billion worth of shares exchanged. Their strong showing underscores sustained investor interest in large, liquid banking stocks, especially at a time when the broader market appears indecisive.
Other notable contributors to value traded included Nigerian Breweries and GTCO, further highlighting how investors are concentrating their positions in fundamentally strong, well-capitalized companies rather than spreading bets widely across the market.
On the gainers’ chart, several stocks recorded impressive price movements despite the overall sluggish market tone. McNichols, RT Briscoe, and NCR each advanced by the maximum 10 percent, pointing to pockets of aggressive buying interest in select counters. On the flip side, stocks such as UPDC REIT and Champion Breweries closed lower, reflecting ongoing profit-taking in some segments of the market.
By volume, ZICHIS Agro Allied Industries, NSLTECH, and Access Holdings led activity, indicating where short-term traders were most active during the session.
By volume, ZICHIS Agro Allied Industries, NSLTECH, and Access Holdings led activity, indicating where short-term traders were most active during the session.
Overall, the market’s modest advance pushed its year-to-date return to about 6.85 percent, suggesting that while optimism has not disappeared, investors are clearly exercising restraint. The dominance of Stanbic IBTC and Zenith Bank in value terms reinforces the trend of capital gravitating towards established banking names amid uncertainty.
For investors, the session sends a clear message: the market is not bearish, but conviction remains weak. In the near term, trading is likely to stay selective, with blue-chip financial stocks continuing to anchor activity until stronger macroeconomic or corporate earnings signals provide clearer direction.
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