The local bours slightly rebounded in April 2025, after registering a 0.12% increase by the month end. The tender positive sentiment was driven by the positive sentiment observed in WAPCO (+298.78pts), ZENITHBANK (+263.80pts), GTCO (+206.41pts), MTNN (+186.91pts) and TRANSCOHOT (+181.52pts) which outweighed losses recorded in DANGCEM (-1502.18pts), FIRSTHOLDCO (+217.54pts), OANDO (+143.83pts), PZ (+59.06pts) and ETI (+20.22pts). 

We expect a continuous positive sentiment for the equities market in May 2025. We believe that investors will begin bargain hunting against markdowns. Also, dividend payouts and subsequent portfolio adjustments may introduce short-term volatility. The upcoming MPC meeting and macroeconomic data releases, including April’s CPI and Q1 GDP reports, will be critical in shaping market sentiment.

Kindly find HERE, our report, covering our analysis and considerations.