The Nigerian equities market extended its losing streak across the first three sessions of the week ended Wednesday as persistent profit-taking in heavyweight stocks dragged market performance into negative territory.
The All-Share Index (ASI) retreated from 145,159.77 points on Monday to 144,646.01 points on Wednesday, representing a 3-day total decline of 0.35%. Market capitalisation correspondingly fell by an estimated ₦327 billion to close at ₦92.002 trillion.
While sell pressure dominated blue-chip and industrial counters, investor appetite remained strong for energy, banking, insurance, and consumer small-cap plays.
3-Day Performance Snapshot (17–19 November 2025)
| Session | ASI Close | % Change | Market Cap (₦) | Remarks |
|---|---|---|---|---|
| Mon, 17 Nov | 145,159.77 | -1.26% | 92.329tn | Large-cap selloff led by Dangote Cement |
| Tue, 18 Nov | 144,986.51 | -0.12% | 92.219tn | Insurance & consumer gains cushion decline |
| Wed, 19 Nov | 144,646.01 | -0.23% | 92.002tn | Banking & energy turnover spike |
Key takeaway: Market selling pressure persists, but liquidity remains intact — a rotation, not an exit.
Top Gainers (3-Day Standouts)
| Stock | Highlight Driver |
|---|---|
| NCR Nigeria Plc | Strongest upward run — gained every session |
| Tantalizer Plc | Most active penny stock — consistent demand |
| Caverton Offshore | Aviation services sentiment improves |
| UPL | Renewed interest in agriculture-linked stocks |
| MBENEFIT / Sovereign Insurance | Insurance stocks continue to attract defensive inflows |
Insurance and consumer plays were the most consistently bid-up segment.
Top Decliners Dragging the Index
| Stock | Impact |
|---|---|
| Dangote Cement Plc | Monday’s -10% collapse — biggest drag on ASI |
| Enamelware & LivingTrust | Sharp mid-cap correction |
| ABCTRANS, Chellaram | Speculative rotation pushed exits |
| Select industrials | Triggered downward momentum in broad market |
Industrial sell-offs outweighed gains in the rest of the market.
Most Active Stocks Over 3 Days
| Counter | Dominance |
|---|---|
| Access Holdings Plc | Highest cumulative volume (driven by Wednesday spike) |
| Aradel Holdings Plc | Controlled majority of turnover value across sessions |
| Zenith Bank Plc | Strong institutional repositioning in banking |
| Tantalizer & Japaul Gold | Retail traders’ favourites — consistent high volumes |
Liquidity remains highly concentrated in a few heavy-traded names.
Passive & Fixed-Income Rotation Strengthens
FGN Savings Bonds
Instruments such as:
-
FGS202766, FGS202892
-
FGSUK2031S4, FG162049S2
…posted strong price appreciation — signaling preference for safer yield-backed assets during equity volatility.
ETFs
Broad-market trackers such as:
-
STANBICETF30
-
SIAMLETF40
-
VETINDETF
…delivered consistent gains across the 3 sessions, reinforcing defensive portfolio hedging.
Market Sentiment & Outlook
Overall trading pattern shows:
| Trend | Interpretation |
|---|---|
| Sell pressure in industrial blue chips | Short-term profit-taking |
| Capital inflow into insurance & penny names | Bargain-hunting and quick-cycle speculation |
| Strong ETF demand | Risk-aware diversification |
| Rising FGN bonds pricing | Yield-seeking safe-haven shift |
If banking and industrial leaders stabilize, a rebound remains possible toward end-week trading.
Investors are monitoring macro clarity and corporate guidance before extending long positions.