The Nigerian Exchange Limited (NGX) closed slightly lower for the second consecutive session on Tuesday as investors continued mild profit-taking following last week’s bullish close.
The All-Share Index (ASI) declined by 0.09% to 155,353.20 points, from 155,496.15 points on Monday, while the market capitalization dipped by ₦91 billion, closing at ₦98.607 trillion, compared to ₦98.698 trillion in the previous session.
Despite the decline, trading activity remained resilient, supported by improved sentiment in select insurance and industrial equities, even as profit-taking in banking and hospitality stocks dragged the overall market lower.
Market Summary
| Indicator | October 27, 2025 | October 28, 2025 | % Change |
|---|---|---|---|
| ASI (Points) | 155,496.15 | 155,353.20 | -0.09% |
| Market Capitalization (₦) | 98.698 trillion | 98.607 trillion | -0.09% |
| Deals | 39,972 | 32,430 | -18.9% |
| Volume (Shares) | 503.00 million | 525.45 million | +4.5% |
| Value (₦) | 24.94 billion | 25.39 billion | +1.8% |
Market turnover rose modestly, with 525.45 million shares worth ₦25.39 billion traded in 32,430 deals, up from 503.00 million shares valued at ₦24.94 billion the previous day. The slight increase in volume and value reflected sustained institutional positioning in select blue-chip stocks despite the overall index decline.
Top Gainers
| Company | Previous (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| Sovereign Trust Insurance Plc | 4.05 | 4.45 | +0.40 | +9.88% |
| Aso Savings & Loans Plc | 0.72 | 0.79 | +0.07 | +9.72% |
| Berger Paints Nigeria Plc | 38.90 | 42.50 | +3.60 | +9.25% |
| FGSUK2033S6 | 99.00 | 106.95 | +7.95 | +8.03% |
| Wapic Insurance Plc | 2.90 | 3.10 | +0.20 | +6.90% |
Insurance and construction stocks dominated the gainers’ chart, with Sovereign Trust Insurance (+9.88%) and Aso Savings (+9.72%) maintaining strong momentum following consecutive sessions of gains.
Berger Paints (+9.25%) led industrial stocks after renewed interest in building materials, while Wapic Insurance (+6.90%) continued its recovery, reflecting sustained investor confidence in the insurance sector.
The appreciation in FGSUK2033S6 (+8.03%) reflected slight adjustments in secondary bond pricing on the NGX platform.
Top Losers
| Company | Previous (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| McNichols Consolidated Plc | 3.29 | 3.00 | -0.29 | -8.81% |
| Lasaco Assurance Plc | 2.90 | 2.65 | -0.25 | -8.62% |
| John Holt Plc | 6.50 | 6.00 | -0.50 | -7.69% |
| Livestock Feeds Plc | 7.80 | 7.20 | -0.60 | -7.69% |
| Ikeja Hotel Plc | 20.50 | 19.00 | -1.50 | -7.32% |
The losers’ chart was led by McNichols (-8.81%) and Lasaco Assurance (-8.62%), reflecting a broad retreat in small- and mid-cap insurance stocks.
Livestock Feeds and Ikeja Hotel also declined amid short-term portfolio rotation and profit-taking from previous week’s gains.
John Holt (-7.69%) extended its losing streak for a third consecutive session following speculative selling pressure.
Top Traded Stocks
| Company | Volume (Shares) | Value (₦) |
|---|---|---|
| Sovereign Trust Insurance Plc | 42,645,345 | 187,291,806.74 |
| Fidelity Bank Plc | 41,965,897 | 797,229,955.50 |
| FBN Holdings Plc | 37,729,078 | 1,188,895,367.95 |
| Zenith Bank Plc | 28,141,691 | 1,800,400,217.50 |
| Stanbic IBTC Holdings Plc | 27,509,172 | 3,026,385,930.80 |
Trading remained dominated by tier-one banking stocks — FBN Holdings, Fidelity Bank, Zenith Bank, and Stanbic IBTC — accounting for over 35% of total market value.
However, insurance stocks such as Sovereign Trust also contributed significantly to volume, reflecting renewed activity in low-priced equities.
Fixed Income Market
| Instrument | Previous (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| FG192053S3 | 98.38 | 103.50 | +5.12 |
| FG202033S6 | 118.03 | 119.10 | +1.07 |
| FG6B2029S5 | 100.00 | 100.00 | 0.00 |
| FGEUR2033S11 | 100.00 | 100.00 | 0.00 |
| FGS202139 | 85.00 | 85.00 | 0.00 |
The bond segment recorded a mixed session, with modest appreciation in select FGN securities such as FG192053S3 (+5.21%), driven by adjustments to secondary yields and investor positioning for fixed-income stability amid cautious equity trading.
Exchange-Traded Funds (ETFs)
| ETF | Previous (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| STANBICETF30 | 510.00 | 525.00 | +15.00 |
| VETBANK | 17.10 | 17.20 | +0.10 |
| MERVALUE | 200.00 | 200.00 | 0.00 |
| VETINDETF | 59.40 | 59.40 | 0.00 |
| VETGOODS | 37.00 | 37.00 | 0.00 |
ETF trading was mostly flat, with the exception of STANBICETF30 (+2.94%) and VETBANK (+0.58%), which recorded minor gains on renewed interest in banking and industrial ETF baskets.
Market Interpretation
The NGX sustained a mild downward correction for the second straight session, as profit-taking outweighed new buy positions in major sectors.
Despite the negative close, market fundamentals remain solid — with value turnover rising and insurance stocks showing renewed accumulation.
Key takeaways:
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Insurance sector outperformed all other sectors in terms of price gains and liquidity.
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Banking sector held firm but witnessed targeted selling in tier-one counters.
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Hospitality and agricultural stocks (Ikeja Hotel, Livestock Feeds) experienced moderate sell pressure.
Outlook
Analysts expect a technical rebound in midweek trading, supported by:
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Anticipated Q3 earnings from major banks,
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Sustained activity in insurance and industrial sectors, and
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Stable exchange rate and oil price outlook.
However, cautious sentiment may persist as investors reassess valuation levels after last week’s ₦4.23 trillion market rally. The 155,000-point mark remains a critical support level for short-term market direction.
Summary Snapshot
| Indicator | Value |
|---|---|
| ASI | 155,353.20 (-0.09%) |
| Market Cap | ₦98.607 trillion |
| Volume | 525.45 million shares |
| Value | ₦25.39 billion |
| Deals | 32,430 |
| Sentiment | Mildly bearish due to profit-taking |