The Nigerian Exchange Limited (NGX) closed the trading week ended Friday, October 17, 2025, on a positive note as the All-Share Index (ASI) and market capitalization appreciated by 1.35% and 1.36% to close at 148,977.64 points and ₦94.561 trillion, respectively.
Despite a reduction in total transaction value, overall market sentiment remained positive, supported by strong performance across key sectors, particularly insurance, consumer goods, and industrial stocks.
Market Activity
A total turnover of 2.422 billion shares valued at ₦76.618 billion was exchanged in 126,591 deals, compared to 2.286 billion shares worth ₦90.280 billion traded the previous week in 138,177 deals.
The Financial Services Industry maintained dominance in volume terms, accounting for 1.662 billion shares valued at ₦32.565 billion in 56,253 deals, representing 68.65% and 42.50% of the total equity turnover volume and value, respectively.
The ICT Industry followed with 184.884 million shares worth ₦8.662 billion in 11,500 deals, while the Services Industry ranked third with 154.537 million shares valued at ₦1.066 billion in 5,975 deals.
Top traded equities during the week were Consolidated Hallmark Holdings Plc, Fidelity Bank Plc, and Access Holdings Plc, which jointly accounted for 618.549 million shares valued at ₦9.220 billion in 9,277 deals, contributing 25.54% and 12.03% to total equity turnover volume and value, respectively.
Market Performance by Indices
All major indices closed higher except for NGX CG (-0.19%), NGX Banking (-0.13%), NGX AFR Bank Value (-0.51%), NGX AFR Div Yield (-0.93%), NGX MERI Growth (-0.97%), NGX MERI Value (-0.68%), and NGX Growth Index (-2.08%), which declined.
The table below highlights the performance of major indices for the week:
| Index | 10/10/2025 Close | 10/17/2025 Close | Change (Pts) | % Change | YTD (%) |
|---|---|---|---|---|---|
| NGX All-Share Index | 146,988.04 | 148,977.64 | +1,989.60 | +1.35 | +44.74 |
| NGX 30 Index | 5,362.52 | 5,439.14 | +76.62 | +1.43 | +42.69 |
| NGX Premium Index | 14,712.18 | 14,954.70 | +242.52 | +1.65 | +53.86 |
| NGX Insurance Index | 1,257.46 | 1,289.59 | +32.13 | +2.56 | +79.61 |
| NGX Industrial Goods | 5,292.32 | 5,440.11 | +147.79 | +2.79 | +52.29 |
| NGX Consumer Goods | 3,429.45 | 3,495.80 | +66.35 | +1.93 | +101.87 |
| NGX Lotus II | 12,355.16 | 12,618.11 | +262.95 | +2.13 | +81.40 |
The data shows significant appreciation in Insurance, Industrial Goods, and Consumer Goods indices, reflecting increased investor interest in defensive and dividend-paying equities.
Market Breadth
Market breadth closed positive with 52 gainers, up from 51 in the previous week. 41 equities declined, same as the prior week, while 53 remained unchanged, down from 55 recorded the week before.
This indicates sustained accumulation of positions, particularly in low and mid-cap stocks, as investors continued selective buying ahead of third-quarter earnings releases.
Top 10 Price Gainers
| Company | Open (₦) | Close (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| Sovereign Trust Insurance Plc | 3.21 | 3.57 | +0.36 | +11.21% |
| Royal Exchange Plc | 2.16 | 2.40 | +0.24 | +11.11% |
| Eunisell Interlinked Plc | 44.00 | 48.40 | +4.40 | +10.00% |
| SFS Real Estate Investment Trust | 381.10 | 418.75 | +37.65 | +9.88% |
| Omatek Ventures Plc | 1.37 | 1.50 | +0.13 | +9.49% |
| Transcorp Power Plc | 314.00 | 342.00 | +28.00 | +8.92% |
| Stanbic IBTC Holdings Plc | 109.00 | 118.00 | +9.00 | +8.26% |
| Universal Insurance Plc | 1.11 | 1.20 | +0.09 | +8.11% |
| Vitafoam Nigeria Plc | 81.00 | 87.00 | +6.00 | +7.41% |
| Prestige Assurance Plc | 1.69 | 1.80 | +0.11 | +6.51% |
Gains were primarily concentrated in insurance, industrial, and energy sectors, with Transcorp Power and Stanbic IBTC sustaining investor interest on strong earnings expectations and growth momentum.
Top 10 Price Decliners
| Company | Open (₦) | Close (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| Tripple Gee & Co Plc | 6.05 | 4.91 | -1.14 | -18.84% |
| Academy Press Plc | 9.60 | 7.88 | -1.72 | -17.92% |
| Regency Assurance Plc | 1.65 | 1.42 | -0.23 | -13.94% |
| LivingTrust Mortgage Bank Plc | 5.20 | 4.50 | -0.70 | -13.46% |
| Industrial & Medical Gases Nigeria Plc | 35.95 | 32.40 | -3.55 | -9.87% |
| Sunu Assurances Nigeria Plc | 5.77 | 5.25 | -0.52 | -9.01% |
| UAC of Nigeria Plc | 72.70 | 66.50 | -6.20 | -8.53% |
| Austin Laz & Company Plc | 3.15 | 2.90 | -0.25 | -7.94% |
| Ellah Lakes Plc | 14.44 | 13.40 | -1.04 | -7.20% |
| Chams Holding Company Plc | 4.30 | 4.00 | -0.30 | -6.98% |
The week’s decline was largely driven by price adjustments following corporate actions from Academy Press Plc and Regency Assurance Plc, as both companies traded ex-dividend and ex-bonus during the period.
Corporate Actions
| Company | Ex-Div Date | Dividend | Bonus | Ex-Div Price (₦) |
|---|---|---|---|---|
| Regency Assurance Plc | 13/10/2025 | NIL | 1 for 3 | 1.24 |
| Academy Press Plc | 17/10/2025 | ₦0.15 | 1 for 5 | 7.88 |
Both corporate actions contributed to temporary markdowns in their share prices as investors adjusted for post-dividend valuation.
Market Summary
| Metric | Last Week | Previous Week | % Change |
|---|---|---|---|
| Volume | 2.422 billion | 2.286 billion | +5.9% |
| Value | ₦76.618 billion | ₦90.280 billion | -15.1% |
| Deals | 126,591 | 138,177 | -8.4% |
| ASI | 148,977.64 | 146,988.04 | +1.35% |
| Market Cap | ₦94.561 trillion | ₦93.285 trillion | +1.36% |
Outlook for the Week Ahead
Market performance in the coming week is expected to be driven by:
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Q3 earnings releases, particularly from banking and consumer goods companies.
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Investors’ reaction to macroeconomic developments, including interest rate expectations and FX market stability.
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Continued portfolio rebalancing across insurance, consumer goods, and industrial sectors, which have maintained upward momentum.
Analysts expect mild profit-taking on select large-cap stocks, but overall sentiment is projected to remain positive, sustained by corporate earnings optimism and dividend positioning.