Nigeria’s stock market ended March on a negative note, falling by 1.99 per cent, despite a late rebound that saw a 0.67 per cent gain in the final trading week, adding ₦438 billion to market value.
The Federal Government declared Monday, March 31, and Tuesday, April 1, 2025, as holidays to celebrate Eid-el-Fitr.
Weekly Gains Despite Monthly Drop
However, during the week, the market gained 0.67 per cent, allowing investors to add ₦438 billion to their portfolios.
The Nigerian Exchange (NGX) recorded three days of positive closes, which outpaced two days of losses and increased the market’s year-to-date return to +2.67 per cent by Friday.
Analysts Predict Shift To Defensive Stocks
Meanwhile, analysts at Vetiva Research highlighted the market’s recent volatility and suggested that investors may shift towards defensive stocks to seek greater stability.
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Additionally, they anticipated that asset managers’ activities would shape the market’s direction as the first quarter drew to a close.
Key Market Indicators Rise
By the end of the week, the NGX All-Share Index (ASI) climbed from 104,962.96 points to 105,660.64 points, while market capitalisation rose from ₦65.819 trillion to ₦66.257 trillion, demonstrating renewed investor interest.
Sector Performance Varies
Throughout the week, investors sold off oil and gas stocks, while increased demand for industrial, banking, insurance, and consumer goods sectors drove growth in those areas.
As the market enters the second quarter, investors continue to monitor how they will navigate ongoing volatility and shifting market conditions.
