Price performance: top 10 stocks that outshone the market in Q3 2025

Nigeria’s equities market closed the third quarter of 2025 on a bullish note, recording an impressive 18.95 per cent growth. Between June 30 and September 30, 2025, the All-Share Index climbed to 142,710.48 points, while market capitalisation rose to ₦90.58 trillion.

A total of 102 equities gained value during the quarter, while 22 declined. At the centre of the rally were insurance, manufacturing, and consumer goods companies, with several stocks more than doubling their share prices within three months.

Below are the top 10 performing stocks in Q3 2025:

1. Mutual Benefits Assurance (+248.18%)

Mutual Benefits emerged as the star performer, soaring from ₦1.10 on June 30 to ₦3.83 on September 30. The insurer’s stock touched a 52-week high of ₦4.70 before settling at ₦3.65, representing an upside potential of over 22 per cent from current levels. With a free float of just 21.72 per cent, the stock remains tightly held by major investors.

2. Eunisell Interlinked Plc (+205.02%)

The technical services and manufacturing firm rallied from ₦12.95 to ₦39.50, hitting its 52-week high. The gain was buoyed by strong full-year results, with revenue nearly doubling to ₦1.41bn and profit after tax surging 90 per cent to ₦190.5m. Analysts expect profit-taking to create new entry points for investors.

3. NCR Nigeria Plc (+166.67%)

NCR shares jumped from ₦6 to ₦16, a new 52-week high. The IT solutions and services provider swung from a ₦1.4bn loss in Q2 2024 to a ₦44.7m profit in Q2 2025, helping drive the rally.

4. Regency Assurance (+150%)

The insurer rose from ₦0.64 to ₦1.60, closing the quarter 21 per cent below its year-high of ₦1.94. The stock remains attractive for investors betting on further upside in the sector.

5. Tripple Gee and Company Plc (+148.89%)

Tripple Gee climbed from ₦2.25 to ₦5.60, its highest level in years. It now trades near a 52-week high of ₦6.05, and profit-taking is expected to create fresh entry opportunities.

6. Sovereign Trust Insurance (+123.88%)

The stock rose from ₦1.34 to ₦3.00, after hitting a one-year high of ₦3.96. Currently trading at ₦2.75, it offers investors up to 31 per cent upside potential from current levels.

7. AIICO Insurance (+121.52%)

AIICO surged from ₦1.58 to ₦3.50, with the price later climbing to ₦4.03. Having touched a 52-week high of ₦5.11, the stock still has about 21 per cent growth room.

8. Thomas Wyatt Nigeria Plc (+111.17%)

Thomas Wyatt doubled from ₦1.88 to ₦3.97 in the quarter, also hitting a new year-high. It currently trades at ₦3.24, leaving an 18 per cent growth margin.

9. Guinness Nigeria Plc (+108.98%)

Guinness shares jumped from ₦88 to ₦183.90, close to their 52-week peak. While profit-taking is expected, analysts say any price shed may open a fresh window for investors.

10. Nigerian Enamelware Plc (+108.65%)

The household goods manufacturer rose from ₦18.50 to ₦38.60, later touching ₦42.45. A pullback is anticipated as investors book profits, but long-term fundamentals remain strong.

Outlook

With the insurance sector dominating the leaderboard, analysts see room for further growth as companies leverage recapitalisation, technology, and new underwriting models. However, several of the top gainers are already near their 52-week highs, meaning the coming weeks may see bouts of profit-taking before the next rally leg.