Nigerian Stock Market Increased Further As 2 Banks Near N100 per Share

• Stock market extended its gains after trading on Tuesday as more investors bought shares of Okomu Oil Palm, Beta Glass, Dangote Sugar Refinery
• Data showed that LivingTrust Mortgage Bank, Royal Exchange, Fidelity Bank, Access Holdings and Zenith Bank were the most actively traded stocks
• Two Nigerian banks, Stanbic IBTC and Guaranty Trust Holding Company PLC, are nearing the N100 per share mark

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.

Nigeria’s stock market gained for a second consecutive session on Tuesday, June 24, amid investors’ appetite for new consumer goods shares.

Data from the Nigerian Exchange Limited (NGX) showed that the market All-Share Index rose from 118,579.65 points in the previous session to 119,790.82 points.

While the market capitalisation also increased to N75.576 trillion, up from N74.812 trillion. Indicating a N764 billion gain for investors.

How the stock market performed

Okomu Oil Palm led Tuesday’s rally, jumping 10% to close at N748 from N680, adding N68. Beta Glass followed with a 10% rise to N333.95, up from N303.60.

Dangote Sugar Refinery also rose 10%, gaining N4 to close at N44.

Other notable gainers included Champion Breweries, which rose by 9.98% to N9.92, and UPDC, which climbed 10% to N3.30.

Trading activity remained robust with 868.7 million shares valued at N23.71 billion changing hands in 22,207 deals.

The most actively traded stocks included LivingTrust Mortgage Bank, Royal Exchange, Fidelity Bank, Access Holdings, and Zenith Bank.

Despite the strong performance, Vetiva Research analysts in a note expressed a cautiously optimistic tone, explaining that while the market maintains positive momentum, it could reverse.

Here is a snapshot of the winners and losers on Tuesday

Top gainers

• Dangote Sugar Refinery Plc gained N4.00, rising from N40.00 to N44.00 per share (+10.00%).
• Okomu Oil Palm Plc gained N68.00, increasing from N680.00 to N748.00 per share (+10.00%).
• UPDC Plc gained N0.30, moving from N3.00 to N3.30 per share (+10.00%).
• Beta Glass Plc rose by N30.35, climbing from N303.60 to N333.95 per share (+10.00%).
• Champion Breweries Plc gained N0.90, rising from N9.02 to N9.92 per share (+9.98%).

Top losers

• DAAR Communications Plc declined by N0.05, falling from N0.64 to N0.59 per share (−7.81%).
• Prestige Assurance Plc lost N0.06, decreasing from N1.08 to N1.02 per share (−5.56%).
• International Marine and General Services Plc (IMG) dropped N1.50, moving from N34.90 to N33.40 per share (−4.30%).
• NPF Microfinance Bank Plc fell by N0.09, dropping from N2.12 to N2.03 per share (−4.25%).
• Aradel Holdings Plc lost N21.80, decreasing from N536.80 to N515.00 per share (−4.06%).

Top traded stocks (by volume and value)

• LivingTrust Mortgage Bank Plc: 112,269,345 units traded, valued at N415,675,435.00
• Royal Exchange Plc: 103,584,171 units traded, valued at N113,795,841.88
• Fidelity Bank Plc: 83,927,799 units traded, valued at N1,632,768,400.50
• Access Holdings Plc: 55,602,690 units traded, valued at N1,263,475,279.55
• Zenith Bank Plc: 34,211,315 units traded, valued at N1,768,437,660.90

Two banks near N100 per share

Meanwhile, two Nigerian banks, Stanbic IBTC and GTCO Holdings, are showing strong performance as their share prices edge closer to the N100 mark.

Stanbic IBTC holds the title of the highest-priced banking stock on the Nigerian Exchange (NGX), currently trading at N87 per share.

GTCO Holdings, the parent company of GTban,k follows closely with a share price of N83.6.

So far in 2025, GTCO has gained 46.7%, while Stanbic has appreciated by 51%.

Access Bank acquires Standard Chartered Bank Tanzania

Access Bank Plc has fully acquired Standard Chartered Tanzania’s Consumer, Private, and Business Banking division.

The move will now allow Access Bank to provide financial services to SMEs, women, and high-net-worth individuals.

Access Bank also announced that it has taken over Standard Chartered in the Gambia after 130 years of operations.

Source: Legit.ng