NGX on Fire! Top Stocks Blaze to New Heights
Investor Confidence Soars as Key Sectors Lead Nigerian Stock Market Rally
The Nigerian Exchange (NGX) has yet again witnessed another bullish session on May 15, 2025, as several stocks surged to fresh 52-week highs, reflecting strong investor confidence and positive market sentiment. The rally cut across key sectors—consumer goods, industrials, financial services, and agriculture—highlighting broad-based buying interest.
Some companies have continued to maintain regular appearances, while new ones have emerged, adding to the list. Here’s a breakdown of the star performers that achieved a new 52-week high, signaling robust demand and potential upside momentum:
1. BETA GLASS (BETAGLAS) – N213.70 (+9.98%)
The glass manufacturing giant saw a near-limit gain, closing at an all-time high. The surge is attributed to strong earnings expectations, increased demand for packaging materials, and strategic expansion plans.
2. HONEYWELL FLOUR MILL (HONYFLOUR) – N16.50 (+10.00%)
The flour milling company hit its upper circuit breaker, gaining a full 10% on the day. Improved revenue from its diversified product lines and favorable commodity pricing may be driving investor optimism.
3. NESTLE NIGERIA (NESTLE) – N1,331.00 (+10.00%)
The multinational consumer goods leader recorded another impressive 10% jump, reinforcing its position as one of the most valuable stocks on the NGX. Strong brand loyalty, pricing power, and resilient demand for its products continue to attract institutional investors.
4. CHELLARAMS (CHELLARAMS) – N13.11 (+9.34%)
The conglomerate, with interests in manufacturing and distribution, extended its rally, nearing a 52-week peak. Market watchers attribute this to improved earnings and potential restructuring gains.
5. NORTHERN NIGERIA FLOUR MILLS (N. NIG. FLOUR MILLS) – N109.00 (+9.49%)
Another flour milling stock is on the rise, benefiting from increased food demand and operational efficiency gains.
6. NPF MICROFINANCE BANK (NPFMCRFBK) – N2.35 (+9.81%)
The microfinance lender surged close to its daily limit, possibly due to improved loan portfolio performance and rising financial inclusion trends.
7. SKYWAY AVIATION (SKYWAY AVIATION) – N66.40 (+9.75%)
The aviation services provider soared amid renewed interest in travel and logistics stocks, likely driven by recovering air travel demand and government infrastructure investments.
8. OKOMU OIL PALM (OKOMUOIL) – N574.00 (+3.42%)
The agro-industrial firm continued its upward trajectory, supported by strong palm oil prices and export opportunities.
9. NASCON ALLIED INDUSTRIES (NASCON) – N54.70 (+1.30%)
The salt and seasoning producer inched higher, maintaining its bullish run on steady consumer demand.
10. CHAMPION BREWERIES (CHAMPION) – N6.20 (+1.64%)
The brewer recorded modest gains, possibly due to seasonal demand upticks and strategic market expansions.
Drive Behind the Rally?
– Improved Earnings Outlook: Many of these companies have posted strong Q1 2025 results, boosting investor confidence.
– Sectoral Rotation: Funds are flowing into consumer goods, agriculture, and industrial stocks as inflation expectations stabilise.
– Market Sentiment: Positive macroeconomic indicators, including FX stability and GDP growth projections, are encouraging equity investments.
– Technical Breakouts: Several stocks breached key resistance levels, triggering momentum buying.
Expert Insights
“The consistent 52-week highs across multiple sectors suggest that investors are positioning for long-term growth, particularly in companies with strong fundamentals. However, investors should remain cautious of profit-taking activities in the near term.”
The NGX’s bullish momentum reflects underlying strength in key sectors, with these 52-week high stocks leading the charge. While the uptrend is encouraging, investors should assess valuation metrics and market conditions before making further commitments.
Credit: Market Force Africa; Texts excluding Headlines.
