The Nigerian Exchange Limited (NGX) began the final trading week of October on a mild bearish note, halting its four-day winning streak.
The All-Share Index (ASI) fell by 0.10% to close at 155,496.15 points, compared to 155,645.05 points at the end of the previous session on October 24, 2025.
Consequently, the market capitalization declined slightly by ₦95 billion, closing at ₦98.698 trillion, down from ₦98.793 trillion recorded on Friday.
The market pullback was primarily driven by profit-taking activities in select consumer and insurance equities, even as industrial, energy, and tech-linked stocks remained resilient.
Market Summary
| Indicator | Previous (Oct 24) | Current (Oct 27) | % Change |
|---|---|---|---|
| ASI (Points) | 155,645.05 | 155,496.15 | -0.10% |
| Market Capitalization (₦) | 98.793 trillion | 98.698 trillion | -0.10% |
| Deals | 31,000 (approx.) | 39,972 | +29.0% |
| Volume (Shares) | 1.21 billion | 503.00 million | -58.5% |
| Value (₦) | 31.48 billion | 24.94 billion | -20.8% |
The mixed start to the week reflected a rotational shift in investor sentiment, as market participants locked in profits following last week’s 4.48% rally. While activity levels fell across major sectors, deal count rose sharply by nearly 30%, signaling continued participation from institutional investors in high-value transactions.
Top Gainers
| Company | Previous (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| Aradel Holdings Plc | 790.00 | 869.00 | +79.00 | +10.00% |
| NEM Insurance Plc | 30.00 | 32.90 | +2.90 | +9.67% |
| Aso Savings & Loans Plc | 0.66 | 0.72 | +0.06 | +9.09% |
| Eterna Plc | 40.00 | 43.50 | +3.50 | +8.75% |
| Chams Holding Company Plc | 3.95 | 4.25 | +0.30 | +7.59% |
The day’s rally was anchored by Aradel Holdings (+10.00%), which extended its strong upward momentum from the prior week.
NEM Insurance (+9.67%) gained amid renewed interest in the insurance sector after previous sessions of correction, while Eterna Plc (+8.75%) benefitted from sustained demand in the oil and gas sector.
Aso Savings & Loans Plc (+9.09%) continued its post-suspension rebound, attracting increased retail attention for a third consecutive session.
Top Losers
| Company | Previous (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| Deap Capital Management & Trust Plc | 1.75 | 1.58 | -0.17 | -9.71% |
| Champion Breweries Plc | 16.60 | 15.00 | -1.60 | -9.64% |
| Lotus Halal ETF 15 | 77.00 | 70.00 | -7.00 | -9.09% |
| Red Star Express Plc | 11.00 | 10.05 | -0.95 | -8.64% |
| Wapic Insurance Plc | 3.10 | 2.90 | -0.20 | -6.45% |
The decliners’ list was dominated by consumer and logistics stocks, with Champion Breweries (-9.64%) leading losses following last week’s gains.
Lotus Halal ETF (-9.09%) remained volatile, mirroring recent fluctuations in Islamic-compliant investment products.
Deap Capital and Red Star Express also declined on light volume, signaling mild sell pressure in lower-tier equities.
Top Traded Stocks
| Company | Volume (Shares) | Value (₦) |
|---|---|---|
| Access Holdings Plc | 68,918,625 | 1,620,739,797.25 |
| FBN Holdings Plc | 66,571,538 | 2,089,453,626.85 |
| Universal Insurance Plc | 19,160,768 | 21,232,531.56 |
| Sovereign Trust Insurance Plc | 19,089,177 | 73,972,796.60 |
| Zenith Bank Plc | 18,176,902 | 1,200,934,683.35 |
The financial sector remained the most active, with Access Holdings and FBN Holdings leading both in volume and value. Together, they accounted for over 26% of total market volume.
This trend reflects institutional positioning in tier-one banking equities ahead of their third-quarter earnings disclosures.
Fixed Income Market
| Instrument | Previous (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| FGS202793 | 95.00 | 95.00 | 0.00 |
| FGS202886 | 80.00 | 80.00 | 0.00 |
| FGS202896 | 100.00 | 100.00 | 0.00 |
| FMN2029S2 | 100.00 | 100.00 | 0.00 |
| TSL2030S1 | 100.00 | 100.00 | 0.00 |
The bond market was stable with no price changes across all listed instruments, reflecting steady yields and limited secondary market volatility.
Exchange-Traded Funds (ETFs)
| ETF | Previous (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| NEWGOLD | 52,500.00 | 55,555.00 | +3,055.00 |
| STANBICETF30 | 500.00 | 510.00 | +10.00 |
| VETGRIF30 | 55.00 | 59.00 | +4.00 |
| VETBANK | 16.40 | 17.10 | +0.70 |
| VETGOODS | 36.55 | 37.00 | +0.45 |
ETF performance was broadly positive, led by NEWGOLD (+5.82%), which benefitted from a modest uptick in global gold prices.
VETGRIF30 (+7.27%) and VETBANK (+4.27%) also advanced, reflecting mild accumulation in financial and diversified ETF baskets.
Market Interpretation
The NGX recorded a soft pullback of 0.10% after four straight sessions of gains, suggesting short-term profit-taking by traders who capitalized on last week’s ₦4.23 trillion rally.
Despite the decline, the market remained structurally strong, with broad sectoral resilience in industrial, energy, and technology-linked equities.
Key observations:
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Trading volume declined 58%, suggesting reduced retail participation after prior heavy activity.
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Value traded stayed relatively high at ₦24.94 billion, supported by banking and industrial large caps.
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Market breadth closed slightly negative, with five major losers outnumbering five significant gainers in overall market capitalization impact.
Outlook
Analysts expect a cautious rebound in the next session, as investors react to:
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Imminent release of Q3 corporate earnings,
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Sectoral rotation between financials and industrials, and
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Potential moderation in profit-taking pressures.
The 155,000-point zone remains a key technical support level for the NGX All-Share Index, and holding above this mark will likely sustain investor confidence through the final week of October.
Summary Snapshot
| Metric | October 27, 2025 |
|---|---|
| ASI | 155,496.15 (-0.10%) |
| Market Cap | ₦98.698 trillion |
| Volume | 503.00 million shares |
| Value | ₦24.94 billion |
| Deals | 39,972 |
| Sentiment | Mildly bearish due to profit-taking |