Access Holdings, Universal Insurance top most actively traded stocks

Access Holdings, Universal Insurance and eight others have emerged as the top most actively traded stocks as the financial services sector accounted for more than half of the total trading volume so far this year.

In 2025, trading activity on the NGX has been majorly driven by investors positioning themselves based on the market’s strong performance from the previous year. While earnings reports have remained a key driver of market movements, their impact has been somewhat subdued compared to previous years.

Between January and February 2025, the exchange recorded a market turnover of 24.179 billion shares, valued at N558.3 billion. This volume of trade propelled the NGX to a 4.8percent year-to-date gain by the end of February.

In this analysis, BusinessDay tracks the most actively traded stocks on the NGX between January and February. The metric is based on their average trading volume during the period under review.

1. Access Holdings – 44.388 million shares

With an average trading volume of 44.388 million shares between January and February 2025, Access Holdings remains the most actively traded stock on the NGX. Investor positioning following its rights issue has fueled this momentum.

By the end of February, the stock had gained 7 percent from the start of 2025, closing at N25.60. Following the announcement of its rights issue completion on December 24, it surged 14 percent to a one-year high of N28.15—a 43 percent premium on the rights issue price, underscoring strong investor confidence.

Read also: NGX records first gain in March

2. Universal Insurance – 23.382 million shares

After a 154 percent return in 2024, Universal Insurance started the year strong, rising 30 percent in the first trading week. However, profit-taking wiped out gains, leaving the stock down 2 percent year-to-date by February’s close.

The stock has an average trading volume of 23.382 million shares, making it the second most actively traded stock this year.

3. AIICO Insurance – 22.930 million shares

AIICO Insurance ranks as the third most actively traded stock on the Nigerian Exchange (NGX), with an average trading volume of 22.93 million shares. Notably, trading activity peaked on January 7, when over 120 million shares changed hands.

Following an impressive 79 percent return in 2024, AIICO appeared poised to extend its bullish momentum, delivering a 33 percent gain as of January 10. However, investor enthusiasm tapered off in response to underwhelming earnings results, leading to a slowdown in the stock’s upward trajectory. The stock closed February with a share price of N1.70, representing a 19 percent year-to-date return.

4. Zenith Bank – 22.647 million shares

Zenith Bank, like other banking stocks, has enjoyed bullish sentiments in 2025. At the end of February, Zenith achieved a return of 6 percent, driven by an average trading volume of 22.647 million shares. The bullish sentiment on Zenith Bank is driven by the announced oversubscription of the bank’s combined rights issue and public offer programme.

Bulk of trading of Zenith Bank shares happened in February, as the stock recorded a turnover volume of 122.23 million shares on February 28.

5. First Holdco – 21.938 million shares

First Holdco, formerly FBN Holdings, had an average trading volume of 21.938 million shares between January and February 2025. At the end of February, First Holdco produced a 4 percent return.

Although the group has made headlines in 2025 due to ownership disputes, there has been no significant transfer of shares.

6. UBA – 17.037 million shares

UBA’s bullish trajectory on the NGX this year has been driven by an overall bullish sentiment on banking stocks this year. At the end of February, the stock achieved an 8 percent return, driven by an average trading volume of 17.037 million shares.

The bullish run of UBA has seen it cross the N1 trillion market capitalization mark. At the end of February, the stock had a market capitalization of N1.26 trillion.

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7. Fidelity Bank – 15.404 million shares

Fidelity Bank Plc has experienced significant trading activity in 2025, with an average trading volume of 15.404 million shares. As of the end of February, the stock recorded a 2 percent year-to-date return.

A notable highlight was the stock’s surge to an all-time high of N20.85 per share on January 28, a 125 percent premium over its rights issue price of N9.25. This sharp gain triggered profit-taking, leading to substantial sell-offs from mid-February following the listing of newly created shares.

8. Sterling Holdco – 15.221 million shares

Sterling Holdco has witnessed significant trading activity, averaging 15.221 million shares in volume as of the end of February. Despite a strong 19 percent rally between December 2024 and January 2025, the stock recorded a 2 percent decline by February’s close, as investors engaged in profit-taking.

9. GTCO Holdings – 13.772 million shares

The most valuable banking stock features prominently on this list, with an average trading volume of 13.772 million shares. As of the end of February 2025, the stock had delivered a 7percent year-to-date return.

GTCO’s strong bullish momentum at the start of the year propelled it to an all-time high of N64 per share on February 6. By the end of February, the stock’s market capitalization stood at N2.09 trillion ($1.39 billion).

10. Jaiz Bank – 13.534 million shares

Jaiz Bank recorded an average trading volume of 13.534 million shares as of the end of February 2025, with heightened trading activity driving the stock to a 17 percent return over the same period.

While no specific corporate actions appear to be fueling investor interest in Jaiz Bank, the broader market has shown a strong preference for financial services stocks. This trend is largely attributed to investor uncertainty surrounding the earnings performance of other sectors.