August 23, 2025 — The Nigerian Exchange (NGX) closed on a positive note on Friday, with the All-Share Index (ASI) rising by 0.48% as strong demand for mid-cap stocks helped lift market sentiment, while Zenith Bank Plc emerged as the most traded stock by value.
The benchmark index advanced by 526.13 points to settle at 110,324.61, compared to the previous day’s 109,798.48. This upward movement pushed the market capitalization higher by N288 billion, closing at N62.53 trillion.
Trading data showed Zenith Bank topping the chart in terms of value turnover, reflecting renewed investor appetite for banking stocks. Market watchers attributed this to the lender’s consistent earnings performance and strong dividend history, which continue to position it as a top choice for both retail and institutional investors.
Mid-cap stocks, particularly in the consumer and industrial goods sectors, also recorded notable gains, further boosting the overall index. Analysts said bargain hunting by investors seeking opportunities in undervalued counters played a key role in sustaining the bullish momentum.
Meanwhile, the market’s breadth closed positive as more equities posted price appreciation than losses, signaling a healthy rebound in investor confidence.
With the NGX trending upwards for the second consecutive session, analysts forecast that the combination of corporate earnings releases and sustained interest in financial and consumer goods stocks could maintain market stability in the coming week, barring external shocks.