The Nigerian Exchange (NGX) began the week on a negative note as the All-Share Index (ASI) fell by 0.24% to close at 141,498.22 points, while market capitalisation declined by ₦219.94 billion to ₦89.52 trillion.
The downturn was driven by profit-taking in consumer goods and hospitality stocks, led by Nigerian Breweries and Ikeja Hotel.
Market Snapshot
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ASI: 141,498.22 (–0.24%)
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Deals: 28,621
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Volume: 488.56 million
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Value: ₦13.72 billion
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Equity Cap: ₦89.52 trillion
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Bond Cap: ₦51.15 trillion
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ETF Cap: ₦29.09 billion
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Market Cap Change: –₦219.94 billion (from ₦89.74 trillion on Sept 19 to ₦89.52 trillion on Sept 22)
Critical View: Despite moderate trade volumes, value turnover at ₦13.72bn reflected narrow participation, with activity concentrated in banking and brewery stocks. The market breadth turned negative, confirming broad-based selling pressure.
Top 5 Gainers
| Symbol | Last Close (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| ROYALEX | 2.04 | 2.24 | +0.20 | +9.80% |
| NSLTECH | 0.75 | 0.80 | +0.05 | +6.67% |
| CHAMS | 3.10 | 3.29 | +0.19 | +6.13% |
| PRESTIGE | 1.74 | 1.84 | +0.10 | +5.75% |
| DAARCOMM | 1.06 | 1.12 | +0.06 | +5.66% |
Insight: Gains were concentrated in micro and penny stocks, led by ROYALEX (+9.8%) and NSLTECH (+6.7%), suggesting retail-driven speculative trading. CHAMS, PRESTIGE, and DAARCOMM also posted modest upticks.
Top 5 Losers
| Symbol | Last Close (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| MCNICHOLS | 3.70 | 3.33 | -0.37 | -10.00% |
| IKEJAHOTEL | 22.95 | 20.70 | -2.25 | -9.80% |
| FTNCOCOA | 6.00 | 5.50 | -0.50 | -8.33% |
| NB | 75.95 | 70.15 | -5.80 | -7.64% |
| HONYFLOUR | 22.10 | 20.60 | -1.50 | -6.79% |
Insight: Heavyweights Nigerian Breweries (NB) and Honeywell Flour led declines in consumer goods, while Ikeja Hotel shed nearly 10% on weak sentiment in hospitality. MCNICHOLS topped the losers’ chart with a full 10% drop.
Top 5 Trades
| Symbol | Volume | Value (₦) |
|---|---|---|
| UNIVINSURE | 79,558,019 | 95,069,072.81 |
| ZENITHBANK | 58,602,490 | 3,861,270,214.70 |
| NB | 32,534,268 | 2,408,604,788.30 |
| UBA | 31,981,450 | 1,385,564,349.50 |
| NSLTECH | 22,195,878 | 17,837,145.70 |
Critical View:
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ZENITHBANK remained the liquidity leader with ₦3.86bn traded.
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NB also posted strong turnover (₦2.41bn), reflecting investor exit pressure.
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UBA supported financial sector activity, while UNIVINSURE and NSLTECH confirmed speculative flows in penny stocks.
Bonds Market
| Symbol | Last Close (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| DAN2029S2TB | 100.00 | 100.00 | 0.00 |
| DIF2029S1TA | 100.00 | 100.00 | 0.00 |
| FG162029S1 | 98.00 | 98.00 | 0.00 |
| FG172035S1 | 20.00 | 20.00 | 0.00 |
| FG182042S1 | 100.00 | 100.00 | 0.00 |
Insight: The bonds market was flat across all instruments, consistent with investor focus on equities and selective ETF hedging.
ETFs
| Symbol | Last Close (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| VETINDETF | 49.00 | 49.00 | 0.00 |
| NEWGOLD | 54,000.00 | 54,000.00 | 0.00 |
| VETBANK | 14.95 | 14.95 | 0.00 |
| VETGRIF30 | 50.00 | 50.00 | 0.00 |
| MERVALUE | 200.00 | 200.00 | 0.00 |
Critical View: ETFs remained flat, mirroring the cautious investor stance and limited inflows into passive instruments.
Critical Summary
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ASI fell by 0.24%, dragging market cap down by ₦219.94bn to ₦89.52tn.
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Consumer goods stocks (NB, HONYFLOUR, FTNCOCOA) and Ikeja Hotel drove losses.
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Turnover value stood at ₦13.72bn, with ZENITHBANK leading trades by value.
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Penny stocks dominated the gainers’ chart, reflecting speculative retail participation.
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Bonds and ETFs were flat, indicating limited cross-market shifts.
Outlook
The decline underscores profit-taking in large-cap consumer names that rallied in previous sessions. With speculative trades driving gains, the NGX may remain under pressure unless institutional inflows return to stabilise the market.