The Nigerian Exchange Limited (NGX) sustained its rebound on Thursday, November 13, 2025, as investors continued to recover positions lost during the heavy selloff earlier in the week.
The All-Share Index increased by 1.08% to settle at 146,981.17 points, up from 145,403.83 points recorded in the previous session. As a result, the market capitalization rose by approximately ₦1.0 trillion to close at ₦93.48 trillion.
Thursday’s performance marked the second consecutive session of positive sentiment driven by renewed interest in insurance, aviation handling and oil and gas equities, while banking stocks remained the dominant contributors to overall traded liquidity.
However, despite the broad-based recovery, total market turnover moderated compared to Wednesday’s session.
The volume of shares traded declined from 806.40 million to 599.71 million shares, while the total value of transactions fell sharply from ₦50.78 billion to ₦22.70 billion across 23,675 deals. This indicates that although sentiment has improved, investors remain cautious.
Top Gainers
Five equities topped the day’s gainers’ list, all appreciating by almost 10%:
| Company | Previous (₦) | Current (₦) | % Change |
|---|---|---|---|
| Linkage Assurance Plc | 1.60 | 1.76 | +10.00% |
| Custodian Investment Plc | 35.00 | 38.50 | +10.00% |
| Oando Plc | 39.60 | 43.55 | +9.97% |
| Legend International | 5.22 | 5.74 | +9.96% |
| NAHCO Plc | 96.90 | 106.55 | +9.96% |
The session saw increased demand for insurance counters, while Oando extended its bullish run supported by energy market repositioning. NAHCO continued to attract investor confidence in the growing aviation logistics sector.
Top Losers
| Company | Previous (₦) | Current (₦) | % Change |
|---|---|---|---|
| Austin Laz & Company Plc | 2.61 | 2.35 | -9.96% |
| Union Dicon Salt Plc | 7.75 | 7.00 | -9.68% |
| LOTUSHAL15 | 92.80 | 85.35 | -8.03% |
| Sterling Financial Holdings | 7.75 | 7.30 | -5.81% |
| NGX Group Plc | 55.55 | 52.60 | -5.31% |
A mix of profit-taking and weak sector sentiment contributed to the declines across industrial, food processing and leasing-related securities.
Banking Stocks Lead Market Liquidity
The banking sector maintained its role as the liquidity driver:
| Top Traded Stocks | Volume | Value (₦) |
|---|---|---|
| Wema Bank Plc | 98,434,830 | 1,948,700,426.80 |
| UBA Plc | 52,971,236 | 2,213,304,844.20 |
| Access Holdings Plc | 50,886,902 | 1,174,696,242.40 |
| Fidelity Bank Plc | 41,198,563 | 783,968,569.05 |
| Zenith Bank Plc | 40,768,870 | 2,631,104,698.80 |
The sustained interest in tier-1 and mid-tier lenders reflects investor focus on stocks with solid earnings resilience and consistent market activity.
Fixed Income and ETFs Remain Attractive
Investors extended positioning in alternative asset classes:
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FGS202791 gained significantly as demand for listed government savings bonds increased.
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STANBICETF30 rose from ₦615.00 to ₦676.50, indicating continuing preference for diversified exposure to large-cap equities.
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Moderate improvements were also recorded in MERVALUE, MERGROWTH and VETBANK.
Market Outlook
The back-to-back gains recorded on November 12 and 13 suggest a gradual sentiment recovery following the sharp decline earlier in the week. However, the steep drop in value traded compared to Wednesday indicates that the rebound remains measured and selective.
Analysts expect the market to continue trading in a mixed pattern as investors assess ongoing earnings releases, macroeconomic indicators, and sector-specific news.
For now, renewed accumulation in insurance, aviation handling, oil and gas and tier-1 banking stocks may continue to support near-term stability in the equities market.