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, 2025, 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.
Source: Getty Images
The data also showed that the market capitalisation increased to N75.576 trillion, up from N74.812 trillion, indicating a N764 billion gain for investors.
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
Source: Getty Images
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 GTBank, 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
Earlier, Legit.ng reported that Access Bank Plc 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.
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Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
