The Nigerian Exchange Limited (NGX) closed the week marginally lower as sustained portfolio rebalancing and defensive positioning outweighed gains recorded in hospitality, industrial, and select financial stocks.
The All-Share Index (ASI) depreciated by 0.14% to close at 143,520.53 points, while market capitalisation fell to ₦91.286 trillion amid a soft bearish momentum despite improved market breadth.
Market Activity Strengthens
Investors exchanged:
| Metric | Weekly Total |
|---|---|
| Turnover Volume | 4.140 billion shares |
| Turnover Value | ₦115.889 billion |
| Total Deals | 102,351 |
Turnover increased 54.2% week-on-week in volume terms, driven by heavy interest in financial services counters.
The Financial Services Industry led activity with:
The Services and Consumer Goods sectors followed, accounting for 148.27 million shares and 143.64 million shares respectively.
Three major stocks — Cornerstone Insurance, GTCO, and Access Holdings — accounted for 48.43% of total volume and 41.02% of total value traded.
Market Performance by Day
| Date | Volume | Value (₦) | Advancers | Decliners |
|---|---|---|---|---|
| 24 Nov | 694.77m | 28.66bn | 17 | 27 |
| 25 Nov | 556.11m | 18.67bn | 27 | 20 |
| 26 Nov | 738.34m | 35.53bn | 29 | 27 |
| 27 Nov | 324.53m | 13.03bn | 34 | 20 |
| 28 Nov | 1.83bn | 19.99bn | 33 | 21 |
Buying interest improved significantly in the latter part of the week.
Index Performance
Despite the overall decline, several major indices advanced:
| Index | Weekly Change |
|---|---|
| NGX CG Index | +0.62% |
| NGX Premium Index | +0.50% |
| NGX Banking Index | +0.67% |
| NGX Pension Index | +0.53% |
| NGX AFR Div. Yield Index | +0.94% |
| NGX MERI Value Index | +0.52% |
| NGX Lotus II | +0.33% |
| NGX Sovereign Bond Index | +0.24% |
Major laggards included:
Insurance remains under pressure with a 12.06% decline month-to-date.
Market Breadth
Market sentiment improved compared to the previous week:
| Category | This Week | Last Week |
|---|---|---|
| Gainers | 38 | 20 |
| Losers | 36 | 60 |
| Unchanged | 73 | 67 |
More advancers than decliners for the first time in three weeks.
Top 10 Gainers
| Company | Open | Close | % Change |
|---|---|---|---|
| Ikeja Hotel Plc | ₦20.85 | ₦30.25 | +45.08% |
| NCR Nigeria Plc | ₦41.10 | ₦54.65 | +32.97% |
| UACN Plc | ₦70.00 | ₦78.90 | +12.71% |
| CWG Plc | ₦16.05 | ₦17.95 | +11.84% |
| Veritas Kapital Assurance Plc | ₦1.60 | ₦1.78 | +11.25% |
| Academy Press Plc | ₦6.70 | ₦7.35 | +9.70% |
| R.T. Briscoe Plc | ₦3.15 | ₦3.44 | +9.21% |
| E-Tranzact Plc | ₦13.25 | ₦14.45 | +9.06% |
| Nigerian Exchange Group Plc | ₦51.60 | ₦56.20 | +8.91% |
| Prestige Assurance Plc | ₦1.47 | ₦1.60 | +8.84% |
Hospitality and ICT stocks led the upside.
Top 10 Decliners
| Company | Open | Close | % Change |
|---|---|---|---|
| Meyer Plc | ₦16.15 | ₦13.10 | -18.89% |
| Sunu Assurances Nigeria Plc | ₦4.60 | ₦3.92 | -14.78% |
| UPDC Plc | ₦5.70 | ₦5.02 | -11.93% |
| Tantalizers Plc | ₦2.51 | ₦2.25 | -10.36% |
| Abbey Mortgage Bank Plc | ₦6.50 | ₦5.85 | -10.00% |
| Regency Assurance Plc | ₦1.13 | ₦1.04 | -7.96% |
| Sovereign Trust Insurance Plc | ₦2.90 | ₦2.70 | -6.90% |
| Deap Capital Plc | ₦1.61 | ₦1.50 | -6.83% |
| C&I Leasing Plc | ₦5.30 | ₦4.96 | -6.42% |
| Caverton Offshore Support Plc | ₦5.50 | ₦5.15 | -6.36% |
Insurance names remained heavily sold.
Market Update – Corporate Action
Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF)
▪ Additional 243,424 units listed on the NGX
▪ Increases total units to 1,056,257,953
This listing followed the 2025 Q3 Scrip Dividend distribution.
Outlook
Equity positioning suggests selective accumulation in:
Hospitality
Consumer mid-caps
Premium banks
Tech and payment services
However, risk aversion remains high, with continued hedging via:
Expected catalysts heading into December:
-
Dividend qualification plays
-
Inflation and interest rate guidance
-
Renewed foreign portfolio participation
Investors are likely to continue balancing growth opportunities with safety-first allocations.