Nigerian Stock Market Weekly Report
Period Covered: Monday, June 23 – Friday, June 27, 2025
Year-to-Date (YTD) Return: +16.30%
Market Summary
The Nigerian stock market delivered a week of mixed signals, starting with optimism and strength and ending with profit-taking and cautious positioning. The NGX All-Share Index (ASI) closed the week at 120,772.68 points, reflecting a -0.64% decline on Friday. Despite that softness, the market sustained a robust year-to-date return of +16.30%.
Investor behavior during the week was defined by rotation between sectors, speculative bursts in penny stocks, and institutional interest in high-dividend counters. While Monday to Wednesday reflected strong bullish sentiment, Thursday and Friday showed signs of exhaustion as traders booked profits, especially in overbought names.
Weekly Market Performance Highlights
On Monday, June 23, the ASI gained 0.37%, driven by selective buying in penny stocks and speculative counters. Market breadth was mildly positive, showing cautious optimism.
Tuesday, June 24 saw the market advance by another 1.02%, with a wide breadth — 68 stocks gained versus 25 that declined — a clear sign of broader participation across sectors.
By Wednesday, June 25, momentum peaked. The index jumped 1.22% to close at 121,257.69 points. Market turnover rose by 9.44%, reaching ₦23.35 billion, as investors piled into both growth and dividend stocks.
However, Thursday, June 26 marked a shift in tone. The ASI dropped by 0.39% due to profit-taking in overheated stocks. Retail-led volatility returned, and market breadth turned slightly negative.
The week closed on a muted note on Friday, June 27, with the ASI down by 0.64%. Trading activity slowed, and turnover fell by over 32%, indicating caution as traders positioned for the new week.
Top Gainers of the Week
NEIMETH was the star performer, surging by 45.9% within the week. This rise came on the back of significant volume activity, but its Relative Strength Index (RSI) of 86.6 signals that it’s extremely overbought.
CHAMPION gained over 33% early in the week but experienced a pullback by Thursday, losing about 8.3% and reflecting fading momentum.
FTNCOCOA posted a 27% weekly gain. A sharp volume surge of over 738% fueled this performance, though its RSI nearing 80 points to high-risk territory.
ELLAAHLAKES rose by 19.5%, largely on the back of speculative retail buying. With an RSI of 81, it appears to be approaching exhaustion technically.
DANGSUGAR also gained 19.1%, benefitting from a technical breakout. However, it dipped slightly on Friday, showing that profit-taking is now beginning to set in.
CWG and PRESCO delivered strong double-digit gains too, supported by positive sentiment in their respective sectors and consistent YTD momentum.
Top Losers of the Week
OANDO declined by 10.6% despite high trading volumes. Sentiment around the stock remained weak, and investors may be staying on the sidelines due to volatility in the oil and gas space.
BUACEMENT experienced a sharp weekly drop of 9.92%, with the biggest hit coming on Friday. Its RSI stood at a very high 92.9, suggesting that the sell-off was largely driven by a correction from overbought conditions.
DAARCOMM dropped by 4.69% as previous speculative interest waned, and weak technicals began to dominate.
RTBRISCOE fell by 6.12%, reversing earlier gains and indicating a loss of momentum among small caps.
MCNICHOLS lost 8.4%, despite offering a decent dividend yield. Its chart showed bearish patterns, and the stock struggled to attract buying interest during the week.
Sector and Technical Insights
The banking sector saw renewed institutional interest midweek, with ZENITHBANK and JAIZBANK standing out due to their bullish chart formations and improving fundamentals.
In agriculture, both PRESCO and ELLAHLAKES posted impressive weekly gains, although both appear technically overextended, which could lead to a pullback.
The oil and gas sector delivered mixed signals. OANDO’s sharp drop weighed on the segment, while FTNCOCOA — though technically a food/agri company — exhibited high volatility common to energy plays, largely due to speculative retail flows.
Food products delivered a mixed performance. DANGSUGAR showed technical strength with a breakout earlier in the week, while National Breweries (NB) showed signs of quiet accumulation without major price movement.
Among insurance stocks, NEIMETH stole the spotlight with an aggressive rally. However, its current technical position suggests a potential near-term correction.
In the ETF space, the MERVALUE ETF recorded a strong rebound of about 10%. On the other hand, GREENWETF moved into oversold territory, with an RSI of 28.6, making it one to watch for a contrarian bounce.
From a technical perspective, several stocks flashed overbought signals. BUACEMENT’s RSI of 92.9 is the highest of the week, followed closely by NEIMETH at 86.6 and FTNCOCOA at 78.5. These levels suggest caution is warranted.
On the flip side, GREENWETF showed an RSI of 28.6 — typically seen as oversold and ripe for a rebound. Similarly, THOMASWY dropped by 10% in a single session and could be setting up for a reversal if support holds.
There were also multiple volume shockers this week. ELLAHLAKES saw a 596% increase above its 90-day average volume. NEIMETH followed with a 235% jump. JAPAULGOLD recorded 589%, while CAVERTON experienced the largest spike — a 748% jump in volume — which may suggest institutional interest or a brewing breakout.
Dividend Corner
NEIMETH, while technically stretched, offers a dividend yield of 3.38%, making it attractive for income-focused investors, albeit with caution. FIDELITYBK presented a more balanced dividend profile, yielding 5.48%, with moderate price volatility — making it one of the more stable dividend plays this week.
UPDC stood out with a remarkably high yield of 34.25%, although this may raise red flags regarding long-term sustainability and possible value-trap concerns.
JAPAULGOLD declared a 4 kobo dividend, with payment scheduled for July 4. The announcement may drive additional interest in the stock in the days ahead.
️ Weekly Watchlist Poll
As we head into the new week, here are five notable stocks to watch based on recent performance, technical indicators, and investor sentiment:
1. NEIMETH – Riding a powerful wave of momentum with a weekly gain of nearly 46%. However, its RSI above 86 suggests it’s technically overheated. Will the rally continue or face a reversal?
2. FTNCOCOA – One of the most actively traded stocks last week, with volume surging over 700%. The stock’s RSI nearing 80 means it’s hot — but is there still room to run?
3. CHAMPION – After a solid early-week rally, the stock dipped on Thursday. Can it bounce back, or has the rally fizzled?
4. OANDO – A major laggard last week, yet some investors may see it as a contrarian bet. Will it rebound or remain under pressure?
5. DANGSUGAR – Combining strong fundamentals with consistent dividend performance, DANGSUGAR could appeal to investors seeking stability in a volatile market.
Let us know your pick! Cast your vote in the community poll and share your reasoning in the comments. Your insights help everyone stay informed and connected.
Period Covered: Monday, June 23 – Friday, June 27, 2025
Year-to-Date (YTD) Return: +16.30%
Market Summary
The Nigerian stock market delivered a week of mixed signals, starting with optimism and strength and ending with profit-taking and cautious positioning. The NGX All-Share Index (ASI) closed the week at 120,772.68 points, reflecting a -0.64% decline on Friday. Despite that softness, the market sustained a robust year-to-date return of +16.30%.
Investor behavior during the week was defined by rotation between sectors, speculative bursts in penny stocks, and institutional interest in high-dividend counters. While Monday to Wednesday reflected strong bullish sentiment, Thursday and Friday showed signs of exhaustion as traders booked profits, especially in overbought names.
Weekly Market Performance Highlights
On Monday, June 23, the ASI gained 0.37%, driven by selective buying in penny stocks and speculative counters. Market breadth was mildly positive, showing cautious optimism.
Tuesday, June 24 saw the market advance by another 1.02%, with a wide breadth — 68 stocks gained versus 25 that declined — a clear sign of broader participation across sectors.
By Wednesday, June 25, momentum peaked. The index jumped 1.22% to close at 121,257.69 points. Market turnover rose by 9.44%, reaching ₦23.35 billion, as investors piled into both growth and dividend stocks.
However, Thursday, June 26 marked a shift in tone. The ASI dropped by 0.39% due to profit-taking in overheated stocks. Retail-led volatility returned, and market breadth turned slightly negative.
The week closed on a muted note on Friday, June 27, with the ASI down by 0.64%. Trading activity slowed, and turnover fell by over 32%, indicating caution as traders positioned for the new week.
Top Gainers of the Week
NEIMETH was the star performer, surging by 45.9% within the week. This rise came on the back of significant volume activity, but its Relative Strength Index (RSI) of 86.6 signals that it’s extremely overbought.
CHAMPION gained over 33% early in the week but experienced a pullback by Thursday, losing about 8.3% and reflecting fading momentum.
FTNCOCOA posted a 27% weekly gain. A sharp volume surge of over 738% fueled this performance, though its RSI nearing 80 points to high-risk territory.
ELLAAHLAKES rose by 19.5%, largely on the back of speculative retail buying. With an RSI of 81, it appears to be approaching exhaustion technically.
DANGSUGAR also gained 19.1%, benefitting from a technical breakout. However, it dipped slightly on Friday, showing that profit-taking is now beginning to set in.
CWG and PRESCO delivered strong double-digit gains too, supported by positive sentiment in their respective sectors and consistent YTD momentum.
Top Losers of the Week
OANDO declined by 10.6% despite high trading volumes. Sentiment around the stock remained weak, and investors may be staying on the sidelines due to volatility in the oil and gas space.
BUACEMENT experienced a sharp weekly drop of 9.92%, with the biggest hit coming on Friday. Its RSI stood at a very high 92.9, suggesting that the sell-off was largely driven by a correction from overbought conditions.
DAARCOMM dropped by 4.69% as previous speculative interest waned, and weak technicals began to dominate.
RTBRISCOE fell by 6.12%, reversing earlier gains and indicating a loss of momentum among small caps.
MCNICHOLS lost 8.4%, despite offering a decent dividend yield. Its chart showed bearish patterns, and the stock struggled to attract buying interest during the week.
Sector and Technical Insights
The banking sector saw renewed institutional interest midweek, with ZENITHBANK and JAIZBANK standing out due to their bullish chart formations and improving fundamentals.
In agriculture, both PRESCO and ELLAHLAKES posted impressive weekly gains, although both appear technically overextended, which could lead to a pullback.
The oil and gas sector delivered mixed signals. OANDO’s sharp drop weighed on the segment, while FTNCOCOA — though technically a food/agri company — exhibited high volatility common to energy plays, largely due to speculative retail flows.
Food products delivered a mixed performance. DANGSUGAR showed technical strength with a breakout earlier in the week, while National Breweries (NB) showed signs of quiet accumulation without major price movement.
Among insurance stocks, NEIMETH stole the spotlight with an aggressive rally. However, its current technical position suggests a potential near-term correction.
In the ETF space, the MERVALUE ETF recorded a strong rebound of about 10%. On the other hand, GREENWETF moved into oversold territory, with an RSI of 28.6, making it one to watch for a contrarian bounce.
From a technical perspective, several stocks flashed overbought signals. BUACEMENT’s RSI of 92.9 is the highest of the week, followed closely by NEIMETH at 86.6 and FTNCOCOA at 78.5. These levels suggest caution is warranted.
On the flip side, GREENWETF showed an RSI of 28.6 — typically seen as oversold and ripe for a rebound. Similarly, THOMASWY dropped by 10% in a single session and could be setting up for a reversal if support holds.
There were also multiple volume shockers this week. ELLAHLAKES saw a 596% increase above its 90-day average volume. NEIMETH followed with a 235% jump. JAPAULGOLD recorded 589%, while CAVERTON experienced the largest spike — a 748% jump in volume — which may suggest institutional interest or a brewing breakout.
Dividend Corner
NEIMETH, while technically stretched, offers a dividend yield of 3.38%, making it attractive for income-focused investors, albeit with caution. FIDELITYBK presented a more balanced dividend profile, yielding 5.48%, with moderate price volatility — making it one of the more stable dividend plays this week.
UPDC stood out with a remarkably high yield of 34.25%, although this may raise red flags regarding long-term sustainability and possible value-trap concerns.
JAPAULGOLD declared a 4 kobo dividend, with payment scheduled for July 4. The announcement may drive additional interest in the stock in the days ahead.
️ Weekly Watchlist Poll
As we head into the new week, here are five notable stocks to watch based on recent performance, technical indicators, and investor sentiment:
1. NEIMETH – Riding a powerful wave of momentum with a weekly gain of nearly 46%. However, its RSI above 86 suggests it’s technically overheated. Will the rally continue or face a reversal?
2. FTNCOCOA – One of the most actively traded stocks last week, with volume surging over 700%. The stock’s RSI nearing 80 means it’s hot — but is there still room to run?
3. CHAMPION – After a solid early-week rally, the stock dipped on Thursday. Can it bounce back, or has the rally fizzled?
4. OANDO – A major laggard last week, yet some investors may see it as a contrarian bet. Will it rebound or remain under pressure?
5. DANGSUGAR – Combining strong fundamentals with consistent dividend performance, DANGSUGAR could appeal to investors seeking stability in a volatile market.
Let us know your pick! Cast your vote in the community poll and share your reasoning in the comments. Your insights help everyone stay informed and connected.