The Nigerian Exchange (NGX) closed flat on Wednesday, October 1, 2025, with the All-Share Index (ASI) steady at 142,710.48 points, unchanged from the previous session.
Likewise, the market capitalization remained stable at ₦90.58 trillion, reflecting subdued activity as investors weighed recent rallies against profit-taking pressures.
Market Activity
Trading volume was robust at 1.24 billion shares, significantly driven by heavy movements in Fidelity Bank, which dominated with 793.03 million units valued at ₦15.88 billion. This accounted for over 60% of total turnover value, highlighting renewed institutional interest in Tier-2 banking stocks.
Top Gainers
The session’s positive performance was led by:
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UPDC (+9.98% to ₦6.61)
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Nigerian Enamelware (+9.97% to ₦38.60)
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Eterna (+9.95% to ₦33.70)
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Aradel Holdings (+9.82% to ₦615.00)
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The Initiates Plc (TIP) (+9.77% to ₦14.60)
These strong gains came largely from industrial goods, oil & gas, and mid-cap consumer stocks, underscoring sectoral diversity in price appreciation. Aradel’s surge above ₦600 per share remains a standout in the oil and gas segment.
Top Losers
On the flip side, profit-taking dragged:
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Union Dicon Salt (-10.00% to ₦8.10)
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Champion Breweries (-7.09% to ₦13.75)
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Royal Exchange (-5.96% to ₦2.05)
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Wema Bank (-5.56% to ₦17.00)
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Custodian Investment (-5.12% to ₦40.80)
The losses were concentrated in insurance and banking stocks, consistent with the trend of capital rotation out of financials into industrial plays.
Most Traded Stocks
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Fidelity Bank – 793.04m units, ₦15.88bn
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NCR – 66.77m units, ₦1.07bn
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Zenith Bank – 49.41m units, ₦3.42bn
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Sterling Financial Holdings – 28.29m units, ₦220.55m
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FCMB – 25.34m units, ₦269.88m
The dominance of Fidelity Bank and Zenith Bank reflected the banking sector’s continued role as the liquidity driver of the NGX.
Fixed Income & ETFs
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Bonds: The sovereign bond segment remained flat across all instruments, with no price change recorded in FGN and corporate bonds.
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ETFs: Activity was mixed. VETINDETF rose by +5.56% to ₦47.50, while NewGold ETF inched marginally higher to ₦51,200.04. Other ETFs closed unchanged, reflecting limited institutional repositioning.
Market Outlook
The NGX’s flat close on October 1 reflects a consolidation phase following recent gains. Market breadth, however, leaned negative with more losers than gainers, showing that profit-taking is weighing on banking and insurance counters.
That said, renewed strength in oil and gas (Aradel, Eterna), industrial goods (Enamelware), and consumer stocks (UPDC, TIP) could sustain market resilience into the new month. The heavy turnover in Fidelity Bank signals that investors may be repositioning ahead of possible Q3 earnings releases in the financial sector.