July 14, 2025/CSL Research

Equities Market Highlights

• The Nigerian equities market extended its bullish momentum last week, as the All-Share Index (ASI) surged by 4.27% week-on-week (w/w) to close at 126,151.04 points.
• The market recorded gains in all five trading sessions, with the Year-to-Date (YTD) return of the index climbing up to 22.56%.
• Top gainers were FTNCOCOA (+60.60% w/w), REDSTAREX (+60.57% w/w), OMATEK (+60.44% w/w), CILEASING (+60.33% w/w), and MEYER (+60.07% w/w).
• Top decliners were LEGENDINT (-12.50% w/w), INTENEGINS (-6.75% w/w), OANDO (-6.09% w/w), PRESTIGE (-5.30% w/w), ETRANZACT (-4.92% w/w).
• Corporate Updates: On the corporate front, Presco Plc declared a final dividend of ₦42.00 per share. GTCO debuted on the London Stock Exchange, listing 2.29 billion shares on the Main Market, followed by an additional listing of 2.28 billion shares on the Nigerian Exchange. Chapel Hill Denham released its H1 2025 results for the Nigeria Infrastructure Debt Fund, announcing an income distribution of ₦5.20 per unit. Geregu Power Plc also published its Q2 2025 financial results, providing a snapshot of its half-year performance.

Fixed Income Market Highlights

• System liquidity decreased to c.₦118.11bn short at the close of the week, with intra-week pressures coming from fundings for OMO sales and DMBs exposures at the SLF window of the CBN.
• Open Buy Back (OBB) rate increased by 467 basis points w/w to 31.50%, while the Overnight (OVN) rate increased by 475 basis points w/w to 32.17%.
• Average NTB yield declined by 209bps w/w to 18.02%.
• Average domestic FGN Bond yield dropped by 53bps w/w to 16.67% while average FGN Eurobond yield inched up by 2bps w/w to 8.24%.

Foreign Exchange (FX) Market Highlights

• Naira depreciated by 15bps w/w against the U.S. Dollar, closing at ₦1,530.25/$ at the NFEM window.
• Domestic FX reserves increased by US$174.28 million to US$37.36bn on 10 Jul 2025 from US$37.18bn on 04 Jul 2025.

July 2025 Top 10 Stock Picks

Kindly click on the below link to download the full weekly report and the July 2025 monthly stock picks.

​​​​​​​​​​​CSL Nigeria Weekly – 14 July 2025.pdf​​​​​

​​​​​​​​​CSL Nigeria Monthly Stock Picks – July 2025..pdf